Just as many other symbols are going up and completing blow off tops with evening stars, here is another one. SOS has went up about 400% within 4 day with a major gap and gap down to end the move with an evening star. The target is about $4.50, which is the 1.618 fib extension level of the first leg down and also the structure area of the break out. The move...
IH&S pattern broke up the 200 weekly ema. Bond yields will most likely be testing around 1.66% and as long as the markets stay up I think we will enter a blow off top. I can see 1.66% on the 10 yr or maybe even higher with sp500 making a monster run blow off top to 4200 plus B4 any larger correction.
I've been getting questions from a few friends and people about when the "top" will be in and what my plans are to try and be part of the "smart money" that sells the top and buys the bottom. Now first let me be clear, if anyone knew when the top and bottom were going to be? They'd be the richest person in the history of time... but that's the point; No one knows...
We have all seen the madness of the markets and crowds this week, WSB heroes are killing off hedgies with no remorse. The last time we saw similar price action to today in tech stocks was June, and more recently September. These instances followed a well defined sequence. ✅ A large selloff in 30Y and 10Y bonds, followed by a bottom and recovery ✅ Massive FAANMG...
Timeframe Viewing behaviour from 1 year time frame perspective Trading from 1 month perspective The potential for downside Oscillator shows peaking Price is highly extended above trailing edge The potential for continuation : Volume Flow still shows good strength VIXY showing low risk environment Summary : Risks now outweigh Rewards Note: Reason...
This might get bought up heavily, but there is a chance we re-visit 25K to close CME gaps left from before the Christmas rally. Good places to buy 18-24 K for serious amounts of capital. ETH also experienced this as well, probably connected...surely a massive amount of longs were liquidated recently. Sold some #ETH into #BTC during the climb. Not much else.
Looking fully valued and real toppy. Set-up for correction IMO. Look at how overbought the indicators! Highest daily volume past week smells like a blow-off IMO. Fascinating ETF, outperformed NQ! Not investing advice; trade at your own risk, or don't trade now at all; GLTA!
ETH- is forming an ascending triangle on the 2H. Once we break $600 and close above it on the daily, next stop is $760. Happy Trading !
Chart shows target for where a potential blow off top might go based on comparison to the 2019 blow off top at 13.8 k. The 2019 blow off top extended 13 % out of the top resistance after pushing off it's 7th parabolic trendline, after which it immediately snapped back down 18 %, breaking the 7th parabolic trendline, and landing on the 6th, after which a lengthy...
Back in the channel the SPX looks strong after Fridays session! Expect a melt up scenario in the coming weeks. Targets: 1st 3800 points 2nd 4000 points
The weekly looks bearish unless it can breakout... the daily confirms H&S, plus has already touched down on 50ma -- that 90ma is weakkk support, so if it falls (through cloud), then it will drop sharply back to 200ma, and then likely build up tons of support here and continue back up. I say this because this market is clearly irrationally bullish, and this company...
Todays Chart – Nasdaq 100 Index – Trading in blue-sky territory respecting the parabolic curve. Points to consider: - V-shape recovery - Respecting parabolic formation - Bullish trend- consecutive higher lows - Fibonacci extension target approaching (4.236) - RSI above 50 - RSI bearish divergence - Multi confluence support (200 EMA + .618 Fibonacci...
Seasonality ends for June somewhere around the FOMC statement with a slight pullback into the end of the month. This looks like a classic blowoff wave here and we may need to come back to test previous support. I predict that the buying frenzy into this FOMC statement in tech and banks was predicated on national reopenings as well as the seasonal effect in...
As my followers know, I've been mostly sitting in cash and silver waiting for sanity to return to this market. Y'all bought stocks, and all I bought was popcorn, and it turns out the joke's on me. Here's how big the gap between price and fundamentals has gotten. On June 1, GDPNow reduced its Q2 GDP forecast to -52.8%. This is down over 10% in the last week. As...
Love the company, but be careful. NASDAQ:DKNG Been warned.
Looks like we could be dropping down to $3000 fairly quickly and then settling down around $2800. I think that the Coronavirus in combo with a possible top being reached could result in a major retrace. This is forward thinking and doesn't have the usual evidence that TA should. You can consider this to be speculation at best, this is certainly not financial advice.
SBUX forming lower high - double top. Its looking like the last leg up to ~$100 was the blow off top of an amazing run. Part of the 81% 2019 increase was due to their China success and growth; Coronavirus continuing to spread into different countries closing stores.