tech_yogi

tech_yogi

Some very long term support breaks. The narrative is cracking due to inflation. The high PE might not hold for long... Just a bad env. to be invested in Tech stocks right now.

tech_yogi

The week is just getting started but this looks like a strong breakout from a 3+ year downtrend. I guess people are looking for places to hide and earn some low 8%+ type safe yields and not be too exotic with "growth". First target is a retouch of 200 dma nicely aligning with one of the previous lower highs. From there we will see if this can pull a sustainable up...

tech_yogi

You can say what you want. Funamentalists out there seem to think they have the upper hand and the charts are for low grades but look how beautiful the charts have worked on QQQ. Also look how beautiful the support zones on trendlines are aligning with the 50 dma and 200 dma. First target 270. And if we do break into the channel again, a 200 dma touch to recheck...

tech_yogi

Long running trendline support is at $180. MSFT is still stronger than the rest of the tech plays but showing signs of giving up. Beware out there...

tech_yogi

Bears have been fighting the rising wedge for a long time now. With many pushes trying to breakdown. Well they finally managed to do it. However, to gain control they need to take out the $2850 which was the bottom of the wedge and has some amount of build up done. Once there, I think the next level down could be as low as $2k for this thing. Again, not wishing...

tech_yogi

Again, great disruptive companies but the charts are looking weak and escalators up is resulting in elevators down for some of these names. Again, the support levels where real buying may come in are wayyyy down below...

tech_yogi

Don't get me wrong. This is a great company and a money printing machine but 30x on fairly low growth with a high base seems a risky bet for forward returns. Technically it looks like it can fall further to the purple areas highlighted. Reasonable targets based on historical supports aligned to fib levels.

tech_yogi

This is a great little company focusing on growing Latin America market. Expedia of Latin America. Was beaten down with Covid and now it looks like it's breaking out of the downtrend. There is a lot of pent up demand for the next few Qs for them to capitalize one...

tech_yogi

An asset that trades purely on the promise of someone else buying it and no real economic value should be traded just based on charts and right now the charts are telling the first stop is $25k and the next stop is $9-12k range. The retail traders are taking hedgies out, expect some fight back and that can start here...

tech_yogi

Crazy thought on the long term structure. While the news of "frenzy" is everywhere (GME and the likes...) the market may continue to be irrational for a lot longer. Look at the Fib levels that perfectly match with key turning points. If this were true, we could go all the way till 430 SPY before taking a breather. Not too unrealistic given that just means ~10-15%...

tech_yogi

2 glaring gaps below and 1 "climb the wall of worry" ambitious target above. Which gaps will get filled first? 200 day MA sitting at ~3000. All good news out of the way - treatment - check, FED -check, Stimulus - check, reopening the economy - check, what could go wrong? Shorts getting hammered now - nothing new, has happened for this whole cycle. Bulls making...

tech_yogi

Interesting pattern on the hourly chart. Every time we have tried to cross the upper trendline there has been a clear negative divergence on stochastic. This time though, it looks different. Would we finally push above the trendline for a healthy retracement? Let's be clear - we are in a bear market so this move is nothing but a selling opportunity. Don't think...

tech_yogi

Target 1 reached but seems like the downward pressure is continuing. Any small bounces that happen intraday are being sold into intraday or overnight. At some point there will be a rally - vicious one but no signs of it yet. Until then, we are on a steady escalator down. Look what I did to the fib levels? The supports and fig level match exactly. The top that I...

tech_yogi

And gravity takes over. It has more room to go down still. Broken a major support (previous resistance) - next leg down should wash out permabulls and bring back shorts.

tech_yogi

Hope you learn from my emotional rollercoaster. PFF is supposed to be a stable monthly income play. In fact, some financial advisors treat it as cash/savings account. I was looking to park a large chunk of cash using this instrument in hopes to get a better yield than 1.5% I get from my savings account. Thankfully, I was scaling into the position which I got...

tech_yogi

AMZN is still holding onto the long term trend-line. It's likely going to break and that will trigger another leg down for the market. The Dec 2018 lows for the overall market are in kissing distance already. Likely a gap down will take that out tomorrow. Stay safe!

tech_yogi

What a strong finish today. The ball is in bears court now to prove the carnage was warranted. Next week's action will either bring back "buy the dip" traders out of closets or will squash any remaining hopes out there. Either ways, there will be large swings if you want to trade 'em (casino bets!)

tech_yogi

Doesn't look good for DOW when big stocks like BA are doing 20% moves down. In for some pain.