kflynn2018

kflynn2018

Market at a critical juncture. Wednesday inflation data probably key for knowing which way it moves.

kflynn2018

H&S pattern still in play but I’ll issue a “be careful here”... big volume off of critical support. Admittedly the stock is still somewhat in no mans land, but the bulls came out bigly today. The recent secondary got done at an average of 10% higher vs the current stock price. I’ll stick to my Elliott Wave count. Primary III is starting. Risk reward is very...

kflynn2018

Ok, I'm not sure I've ever seen so many members calling out an "obvious" head and shoulders pattern. If that many people see it as obvious, then I always become concerned it might be a fools pattern. I've laid out a potential Elliott Wave pattern that would be the exact opposite of the bearish breakdown of the H&S pattern. I agree the H&S does look quite...

kflynn2018

Ending triangle pattern could lead to rapid increase.

kflynn2018

WDC resolving out of the wedge to the upside. Stop is pretty clear in the low to mid-50s if it broke back under the triangle.

kflynn2018

not a great look... what seemed like the bottom of the channel was probably just the middle of the channel.... back to the sept low by election day is the call here...

kflynn2018

Long term log chart of the NDX. Back to the top of the channel that we've been riding since the end of the 2009 financial crisis. Are we destined to rippy rip higher to the broader channel dating back to the creation of the index in the mid 1980s, or go through a bigly correction of this current wave? Maybe back to 8500 or so?

kflynn2018

Chinese supply chain has been loading up on components out of fear the US govt shuts down supply of critical components... supply chain could be swimming in inventory soon....

kflynn2018

50% retracement of the move off the bottom and would be C=A for this pull back

kflynn2018

Looks like the fruit is probably headed back to the top of the channel..... Maybe top out at $425?

kflynn2018

I posted a bullish chart on MCHP last week, but wanted to follow-up with the downside risk. If market weakens then i think it could drop to ~$90 range which was support in 2019... would setup a nice inverse H&S pattern with a target of close to $160

kflynn2018

MSFT is key leadership in the market. Most of the market has been correcting since early/mid June while AppleSoft has continued to rip higher. Seems like this is more of a catchup trade vs the leadership rolling over. Very possible we need one slight lower low to complete the 5-3-5 flat, tag the bottom of the channel before moving higher. Thoughts??

kflynn2018

Breakdown or just a breather and then another rip higher?

kflynn2018 Updated 

LRCX broke out of the previous triangle for one last upward thrust. Now it's failed to consistently break higher through $360. Next move is likely a thrust down.

kflynn2018

MCHP hit the 50 day moving average today and the 1 hour 5 RSI was deeply oversold at the close. Might be a good spot to stab at it for a trade higher. Downside likely the June low at around $97

kflynn2018

Which way will LRCX break out of the triangle? What's your vote?

kflynn2018

On a short term basis this looks like it could be a top. Hit the upward sloping ling for the third time and reversed hard.