ContraryTrader

ContraryTrader Updated 

The correction back to the primary trendline has started.. i had to to dust off the 100sma for a lot of stocks and indexes. Overalll technicals tell me we are headed lower than last week lows but a nice dead cat might be here near term. Dow jones Held that 37,800 support all week and finish the week with a break out of its down trend Looking for a short term...

ContraryTrader

Weekly chart.. Major rising wedge forming here.. Price is now correcting back to supporting trendline.. expect a move down to 50-53 before a final leg up to new highs.. Major correction coming 2025. Short entry for now is below 68.00.. 68 as you can see is major fib and also 100ma is around 69.. wait for a close below 68 and short with your first target 57$ gap...

ContraryTrader Updated 

I want to start off With DJI, NYA, IWM, XLF, And XLV. Those indexes and sectors are more cylicals and they led the slide this week. DJI (Dow jones) 37,800 is previous resistance of the bullflag.. 37,800 will now be support. I think we dead cat here before eventually sliding to 37,000. 37,000 is crucial for bulls to hold, its the previous ATH set from ...

ContraryTrader

Earnings mid next week.. Sitting here on support of channel from last earnings gap up. Over next few days i expect Meta to rebound to atleast 510.. a break over 510 and or that minor channel (White lines) and meta heads back to 520.. Long term i think this stock is headed for a major correction Bearish divergence On RSI has been playing out for last 2...

ContraryTrader Updated 

Looking for a gap close at 509 by End of week followed by a bounce back to 518-520 before the next leg down to 497.. Ascending broadening wedge here. Vix 4 hour chart.. is flagging for a move up to 18 . Dow jones Bear channel formed here. Next target is 37,800.. I expect a dead cat there before fi al target of 37,000 Nasdaq or IXIC Looking for 15,930...

ContraryTrader Updated 

Falling wedge building up here .. I think the price could drop as far as 160 to retest breakout (Whiteline) and this setup still be valid. Strong support at 165 then 160. Cut losses below 160.. bullish target is 182.. 182 will be a tough nut to crack. Any close over 185 and its back to 200 Below 160 and we head to the weekly 200sma at 150 ish. Aapl has never...

ContraryTrader

Look for a bounce back to 40-41 here off trendline support. Daily candle closing outside Bbands and hourly oversold! Long over 37.00 Target 40.00 or 200sma Stop loss 36.00

ContraryTrader

Channel trade here.. Approaching trendline resistance here around 157.50.. looking for a pullback to 150 before a final push up to 160.. Correction Mid - late May back to trendline support

ContraryTrader Updated 

Heading in to April The market cycle is upside down.. Usually you see a small correction late Feb- March from profit taking of the holiday rally Nov-Feb. April is usually bullish then its Sell in may and go away. Monthly Candle are outside Bollingerbands on Spy, DJI, and NYA. NYA is the most extended. NYA moved the most closely with IWM and Financials....

ContraryTrader Updated 

Besides aapl Tsla had the worst quarter among big tech. Price is in A downtrend but a bullish wedge is forming here. Also bullish divergence on the 1hour RSI and symmetrical triangle The target move would be top of channe1 or 200EMA. Best entry is a close above 183.. or a retest of Strong support at 172 Cut losses below 165

ContraryTrader

Nice move incoming in the next week or 2. Rising wedge setup here but looking inside the wedge and there range trade or (Flag setup) the range is 172-180 The 20sma has now move up to add support to the trendline around 175-176.. if Amzn breaks 175 then 172 is incoming. I dont think 172 will give way unless something very negative for amzn happens or overall...

ContraryTrader Updated 

Closed on trendline support, 20sma and 508 price action... I think there's a very high chance we could close gap at 515 and push to trendline resistance 515-516 early on in the week like so If 508 is broken early this week (Monday) the first stop would be 507 gap close, watch for a bear trap there and a bounce, i dont think we go for 503-505 until later in...

ContraryTrader Updated 

Major rising wedge here for the biggest stock on the market... In the scenario where this breaks wedge support and starts to correct the target would be 363 or the 200ma Until we can play the wedge! Price closed outside daily bollingerbands and hourly moneyflow is saying a 3-5% pullback is coming My target here is 415, look for any pullback near trendline...

ContraryTrader

Looks like a double bottom here off supporting trendline.. long over 500 ,Target 520

ContraryTrader Updated 

I think this week the 20sma will be tested on indexes and major stocks alike.. With the spy i expect a test of 505 early this week.. 505 is gap supoort from NVDA earnings and also the 20sma.. if spy breaks that support, 500 then 494 is next up. I like to take my correction 1 moving average at a time.. 494 will be close to the 50sma. If we bounce off 505 the...

ContraryTrader

Fallen Wedged here off support.. look for a push back to 177-180 in the next 2weeks

ContraryTrader

Most likely this goes to 1000 in the near future, but first i expect a pullback to 800 to test the 20sma. Tagged my yearly trendline from my last post.. looks like a minor H&S here..

ContraryTrader

Price is correcting back to 127 support... 127 is trendline support and price action support. Price is also showing a falling wedge here I think if price can hold 127 the next stop is 160 or ATH..