About meActive trader for 5 years. I study market disruptors and emerging technologies for long term investing and trade options shorter term for income. Only recently started publishing ideas. Stay tuned for more.
After 12 weeks of consolidation BAC broke out last week. Suggested increase of 13.4% or around a $4.00 move.
Two things to keep in mind are:
1. The resistance that will be met at 33.05, the highest price since 2009
2. One week didn't touch the mode, usually I don't chart a consolidation unless every candle in the consolidation touches. This was otherwise a...
SPY reached the resistance level and top of the left shoulder in a head and shoulders pattern (286.69).
Also coinciding with this on the weekly candle the stochastics have signalled sell.
Been waiting for this signal, bought 287 puts this morning when the price was at 287.07.
The other day when I posted my SPY chart this is what should have posted. I guess the window I had opened that I hit publish on didn't have the finished chart.
This is the rest of the points that were supposed to be included
Interesting pattern in SPY forming. Similar idea as my last post just a bit more historical detail.
Dotted forecast line is hypothetical based purely on the percentage drop below the 200EMA relative to how much it was above the 200 at the top in Oct 2008.
SPY approached the resistance level I suggested and pulled back yesterday after to coming to within 1 dollar....
Strong resistance if we go as high as 279. I don't think we will get that far past the 200EMA though. Either way it looks like a head and shoulders setting up.
On the monthly candle we have a consolidation forming which if it broke out would indicate a 20.26% Drop by august.
The red trend line is a similar pattern I called in November. I never posted it here...
USD and Gold prices are usually inversely correlated which was the case up until around sept 17th when they started to both go up together. Daily candles indicate gold has good momentum but the dollar is set up for a reversal.
Silver prices are typically directly correlated to gold and they are both moving together as you would expect. The dollar is the one...
This is a stock I was hoping to see a bullish rally emerge in but it now looks like the opposite is suggested. The yellow line was a long 11 month consolidation period that now looks like we may not see a confirmation. (still possible but not in the next month). More likely however, I believe this stock will go down. Monthly stochastic showing a crossover and...
6 week consolidation followed by a downtrend confirmation last week suggests a 10% dip in SPX before Christmas.
MACD crossover signaling a downtrend about to emerge also.
Monthly prices at the end of 2017 closed above the upper Bollinger. Then have dropped below this month. This indicates a likely drop in price.
Look for a drop below the 2600 resistance level to...
6 week consolidation followed by a downtrend confirmation supported by a MACD crossover suggests a further 9.28% drop by Dec 17. Bought Dec Puts.
RSI indicates there is still selling pressure and the 30 day MA has turned downward.
4% drop suggested in the next week based on a 7 day consolidation with a down trend confirmed. Trend is in line with two other weekly trends I had charted earlier. I bought $146 puts for Nov 16 looking for a quick ROI of about 50% if target is reached by expiration.
I'm actually long on NFLX stock but I think it'll drop over the next quarter. Overvalued compared to the other streaming services but lots of original content and a huge expected increase in subscriptions to streaming services over the long term.
This chart is based on a monthly consolidation but I am showing the weekly candle to show that my last 5 forecasts...
I'm not actually getting in on this trade, there is too much uncertainty around Musk and Tesla for my liking at the moment. I have traded TSLA in the past. This is a stock I would like to see get less unpredictable. That being said, the monthly candle suggests conditions for a bull run.
Last 2 weekly forecasts were reached. Now a drop in price is suggested on the monthly. Option pricing isn't great based on the suggested duration and leaves a small margin for error. Could be a play to buy puts if earnings estimates miss tomorrow.
Every time the monthly RSI has dropped to todays levels over the last 16 years we have seen a rally. With a retrace of even the smallest run here (39.55%) we could expect a price target of 170. In consideration with the RHT acquisition this could be significantly higher. I don't usually chart off RSI alone so this is purely speculation. I'm not looking to trade...