myceliium

myceliium

Its very possible that AVGO will be heading back to the 400 levels after rallying up to the resistance levels in the ~520s. Semis have had a strong run and the bounce on AVGO has been fairly significant without any convincing establishment of support levels on the way up. With this and the upcoming economic catalysts, its likely that a significant retrace is on...

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It's shorting season again and I've got my eyes set on this white whale. There's the potential for this to turn out to be a 4th wave completion but considering the multiple tops and market-wide weakness, its more likely to be a B wave of a larger ABC correction. Oscillators on the chart seem to support a retest of previous lows. Let's hope my analysis isn't being...

myceliium

Looking at the bearish divergence and fib retracements, CMG appears to have completed a fairly strong corrective wave after an initial sell-off form ATH. This suggest a C wave is inbound, either flat or a strong impusle leg down. Upside limited considering that the consumer behavior that led to strength supporting the current levels is likely to shift again in the...

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UNH has been an outstanding play for the number of years without any real signs of weakness. Despite being a darling of many portfolios, market-wide conditions will create conditions that will lead to profit-taking or portfolio reallocations when buying opportunities arise. The impact may be minimal but should lead UNH lower.

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Quick chart on S&P using Gann box/angles - been finding these to be a great asset when charting potential support and resistance zone. Chart on the left focuses on the next 6 months while the one on the right is for painting a picture of the larger correction that may be at play compared to previous significant correction. Sitting below the 200MA on the daily,...

myceliium

AAPL may be getting ready for another leg down. Looking to 165/163 area before years end with a strong bounce back to 170 levels when target reached.

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TSLA may be in a C wave - watching the 2.618 fib retrace from the peak of the last rally. Sub $900 possible before the end of the year.

myceliium Updated 

After opeing at ~16% lower a the start of the trading day, LCID has been on a tear to regain support @ 45. While this move has been impressive, it is likely that the bearish trend has been established and LCID will continue lower - possibly retesting 40 - lather this week. Keeping an eye on this one. LCID 40 PUT 12/17 could be the play

myceliium Updated 

Just wanted to put a closer view of the chart idea up - mostly for fun. I think the move will happen relatively quickly

myceliium

Revising my earlier idea because BTC is looking very weak right now. The accelerated selloff could take it down to break support at 40 K before the end of the week. Watching the 1. I 618 level if BTC fails to bounce at previous low

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After temporarily holding 50K support over the the weekend it looks like BTC is ready to go down again. I'm not sure whether or not it will read the previous low but a test of 45K or lower is likely. Bearish trend is being established. Resistance @ 50k & 54k

myceliium

AAPL has been running hot but a retest of previous support is now likely. 170 PUT 12/17 for very short term trade may pay off well

myceliium

BTC is currently sitting below support which also happens to be the 50% retrace of the last leg of the sell off - if it is able to break former support/current resistance level of 50k, it could run to 52k before attempting a retest of support. With that in mind, this week could see BTC range from 52k to 42k as support and resistance are tested before the next move

myceliium

The stocks are starting to fall and I think SOXS is poised for a rally once traders begin hedging considering the enormous gains made in the sector this year. 4 CALL 12/17 is what I'm looking at

myceliium

After some strong selling you UPST is resting on the 200 moving average on the daily - this is a great place for a strong bounce. Also on a fib level of support - not sure what the long term direction could be here but going long for the next leg short term.

myceliium

It looks like there's more pain on the way come in for LI considering a key Gann angle has been breached and support was also broken. Keeping an eye on this one - Could be a good short opportunity

myceliium

It's possible that MRVL is reaching the completion of its third wave after a multi year run where prices continue to increase with reason. After earnings the price shut up to the Fibonacci resistance level that would typically correspond with profit taking - that coupled market wide reflection on valuations may lead to a steady sell off over the next few months...

myceliium

It's very possible that Bitcoin is about to have a major correction - Play on the current selloff is pretty intense it wouldn't be surprising to see bitcoin retest the previous lows from July 2021 (~30,000) in early January 2022. It's been a while since I've made some public analysis of any financial asset so feel free to take my thoughts with a grain of salt. I...