FiboTrader1

FiboTrader1 Updated 

AVGO reports earnings after the close tomorrow and if setting up similarly to CRWD. RSI on the 1D through 3D are at all time highs and todays daily candle is signaling the top is in. My first target $235 and expecting a later drop to $187 in the next 4 to 6 weeks.

FiboTrader1 Updated 

If you look at the monthly chart for NFLX, you will see how NFLX has screamed to new ATH over the last few weeks. Analysts have increased Netflix's price target to an absurd $1400+ while P/E sits at a very high 57.60. Over the next few weeks, I am expecting the broader market to selloff into July and have a PT of 1175 and 1106 for NFLX through the end of June...

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This week I am expecting a final rally to 608 to finish wave 5. SPY broke above 595.50 resistance today, but with RSI at incredibly high levels on the 1HR chart I am anticipating a minor pullback tomorrow and the final push up to occur Thursday and Friday. Jobless claims are released Thursday and unemployment rate released on Friday. These are the two major data...

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DDOG has settled at a major support zone and is expected to make a big breakout to the upside. Targets are $133, $140, and $147

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The market has experienced consolidation at the 575 level and with RSI in the basement I am expecting a powerful reversal to the upside by Friday that will last several weeks. Wave 2 targets are at 597 (0.618) and 604 (0.786) before a larger selloff begins in April.

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SPY appears to be in a descending wedge (bullish) or a descending triangle (bearish). I'm expecting a rally to 597 on Monday, but we will likely see a rejection at the resistance line. I'm leaning towards the descending triangle and we see a fall through support to 567, but either of these patterns supports a drop to at least 577.

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JEF is well above the 55 and 85 SMA on the weekly chart, so expecting earnings to bring JEF down to 64-63 after earnings on Jan 8

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TSM is too far above the larger SMA's on the weekly chart to continue higher without a correction. Expecting earnings to bring this down to my target of 159-148 by the 3rd week of January

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TSLA has risen well above larger SMA's and is due for a large correction in January. First PT is 385, then 336-326.

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SPY RSI on the monthly chart is showing an acceleration of selling going into the next few weeks, the 1.618 fib extension from today's high shows a perfect placement to the support created on Nov. 1 2024, and the EW count is showing today's high as the end of wave 2 retracement wave. Wave 3 will be the highest volume wave and will bring SPY down to 568 at the end...

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DDOG is sitting on an island at 155 range and is well above it's SMA's. Expecting a large pullback in the next week or two to $140.

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NVDA has fallen below the 30 SMA and has been rejecting the 30 SMA as resistance. Over the next 8 trading days, I am expecting NVDA to fall to 129.

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NFLX has risen well above the SMA's and has seemingly topped out at the 906-908 level. This recent high of 902 shows two fib confirmations (retracement and extension) that NFLX will retrace to as low as 932 in the coming week or 2. If the SMA's continue upward after this retracement, I am still bullish. However, if they begin to rollover with a price drop, then...

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TSLA has shot up tremendously over the last week, but I feel the parade is over (for now). Expecting a retrace to 307, then 275 (severe case: 249), before continuing back up to possibly 382 and 411.

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SPY is in a bullish channel and has rejected the channel resistance at 600. Expecting a retracement to either the 0.382 (566) or 0.5 (556) Fibonacci retracement over the next several weeks, before seeing any continuation higher.

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In September, I was able to call the next major target for Bitcoin around 88K by using Fibonacci extensions and using the resistance line was able to determine the time frame for that to happen to be sometime in November. Well, here we are at 88K, but what's next? Using Fibonacci retracement, we have two potential targets: $74k and $69k. Due to high exuberance in...

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In July 2024, V perfectly retraced to the high of July 2021 which provides us with 2 fib extension targets going into earnings tonight. PT 1 301, PT 314. The larger fib extension created by taking the high of July 2021 and the low of October 2022, gives us the stronger of the 2 targets - 301. Calls are cheap for this Friday's expiry.

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AMD broke out of a bullish descending wedge in late September and has since shown little sign of a significant breakout to the upside. We are seeing higher highs and higher lows as well as an upward continuation in the weekly SMA's. I have drawn out to Fibonacci extensions from the high and low of Aug/Sept and another using the high and low of October leaving us...