Later in the week, we kick off earnings season with a trio of financials: JPM, C, and WFC,* all of which announce on Friday before market open. Generally speaking, I haven't played a lot of financials in the past, since their background implied volatility never seems to bump up significantly enough. Here, however, with JPM's implied at 32, C's at 33, and WFC's...
MU looking bad for SMH stocks. Looks like all these stocks out of favor for a while from here.
This is the accelerated range for MU. Doesn't look good for $SMH stocks
NVDA in a whole lot of trouble right here. Bad for all SMH stocks. Watch SMH draw QQQ down for a while.
EARNINGS The earnings on tap aren't looking very enticing to me, as I generally look at getting in on these where the implied volatility rank is >70% and the background implied volatility is >50%. However, they might be worth watching running into earnings to see if implied ramps up. KMI (implied volatility rank 79/implied volatility 30) announces earnings on...
Minor supply zone from 2000 there too
completion at 10.12 although due to the overwhelming selling pressure I will play this one with careful. Preferable buy near 200MA (9.75) but I'm happy buyer near 10...will see it opens tomorrow.
I know it is crazy and hard, but I will still try. 76.69-78.58 is a stacked resistant zone for a iv wave correction. We may or may not finished iii wave. Look for a 5 dollar correction soon.
SHORT SMH LONG TLF Target 0,50 - Super retracement expected Unload Risky assets tactically (1-3 months) 14-15% Potential Gain Set your own Stop Loss.
Semiconductors have defied the gravity for sure! They act similar to IBB just before it rolled over. For now, it is consolidating above a major trendline. Probably another move up!
SPY, IWM and SMH have met their upside targets. If we close Below the $214.56 with minimum 100 million in Volume, we will see a major correction, till then stay put!
SMH extended the decline off the 60.13 peak (June 1, 2015) to breach 32-month rising trendline (from November 2012 low), suggesting scope remains for further downside. The immediate support lies at 50.40 (61.8% of 44.43/60.13 upleg) then 48.11 (76.4% of 44.43/60.13 upleg). Below there would expose the 44.43 key support (October 15, 2014 reaction low). The...
SMH expected to gap to 53.70 for a Retest Gap. To learn to trade this strategy for free go to www.RealLifeTrading.com
3-29 Here's the drill. Nice clearly defined uptrend channel that? Put in a Double Top and broke its uptrend to the downside. Now for shorting? Let it stage a snapback rally up to new resistance at either the red line around $52.00 or a Fib retracement zone (notice where the 61.8% zone is? Its at those levels one wants to see? Stalling, THEN one can think about...