TTWO current consolidation pattern presenting some good opportunity to establish some Leaps expiring 2021. Current support level for wave (4) at 149.5 setting up for a medium term wave (5) rally that could last for months. Check Video Update for exact trade execution details
The weekly chart (Long Term) shows our bullish count that portrays a major top into 3953. We are only using this count as a vehicle for the S&P to reach new highs and then will assess at that point.
The S&P could be unfolding into wave (ii) support at 3450 before moving higher in longer term wave (3) upside target that might reach 3800. We’re considering this sideways pattern to have a potential breakout with a remaining wave (3) rally to go but we’re in for major bout of volatility as a potential double top pattern at current resistance could move the S&P is...
A new trade to be added to our portfolio will be ALV. ALV is the world's largest automotive safety supplier, with sales to all major car manufacturers in the world. Autoliv Electronics has significantly strengthened its portfolio to include critical technologies required to enable autonomous driving.
The 4 hour chart on USO is showing a quality bearish trade with heavy resistance into 30-31. Is this (X) wave complete for a move back into 22-224 level? On the Minor time frame, look to execute bearish positions for USO expiring Jan 2021. Trade execution details in video update.
Our UBER Leaps has gone ITM we are updating the current breakout pattern. To the minor time frame, a minor corrective wave (ii) into 41-43 level before UBER sets up for another run completing an impulsive 5 waves higher into 2021. Will be looking to establish more longs if UBER drops into 41 with some Leaps.
Our WDAY longer term holdings is moving in and out of money. We are looking for a wave iii push higher into 275 once this consolidation is complete. The daily count shows we could be in a sideways market here but we will be holding on to our long-term holdings in long WDAY positions.
Updates on existing long position on Bonds. TLT contracting triangle pattern is setting up for a terminal move into wave (C) targeting the 170-175 range. Wave count invalidation at 151.90
Alternate wave count shows if resistance do hold at 3425, we might see lower levels on the S&P. This subdivision of wave (2) suggest wave (B) rebound is complete and a potential short term pullback into wave (C).
The daily chart shows our longer term bullish count that might break the Sept 1st high moving into the 3800 upside target of wave (iii). Moving away from the analysis that a multi-decade high is in, for now.
With tech as the leading index, we are labeling the NDX short term pullback with wave (2) support levels at 10,921 at 1st level of support at 23.6% retracement and then at 38.2% at 10,131. On the larger time frame, the overall bull trend is still intact. We are looking to establish a shorter term income trade like a butterfly spread on NDX as we’re in for a major...
TLT contracting triangle pattern is setting up for a terminal move into wave (C) targeting the 170-175 range. Triangle born in Aug 20’ still in progress and set to rebound before support is found and wave (B) rebound begins.
On the minor time frame hourly chart, looking for a minor rebound into wave ii resistance at 3350-3370 to deploy some downside hedge. So far, this wave count is suggesting a deeper corrective wave that could take us through Nov-Dec.
The S&P corrective wave (2) with support levels at 3032 and 2871setting up for an decrease into short term corrective wave (2). So far, volatility of the overall markets has increased and we’re looking to deploy some downside hedge on the overall markets with some butterfly spreads or verticals. Exact trade details on Video Update.
NDX current pullback into wave 2 is setting up same degree wave 3 increase towards 13000. If so, we could possibly see new highs into wave 3 carrying us well above 12000.
On the minor time frame, GLD is looking for Fib support at about 175 for a potential rally into wave iii. We’re considering establishing some longs on GLD heading into 2021 for a potential increase towards 190.
On the minor time frame, GLD is looking for Fib support at about 175 for a potential rally into wave iii. We’re considering establishing some longs on GLD heading into 2021 for a potential increase towards 190.
XLK current wave (2) correction is setting up for a terminal move into wave (3) targeting the 129-135 range.We are operating under the assumption that wave (2) should not break below 111 setting up a same degree wave 5 rally is in progress targeting 130.