something to keep on watch here. QCOM got a positive reaction after earnings which sent it flying on a gap up. Friday was an inside day and has a good shot to fill the gap above to $160. Be cautious, as the las two times prior to reaching this level, it sold off hard. Watch the week ahead and an invalidation would be a daily close below $145.
I often go to the same well many times, and here I am back with NFLX. It has traded in this range above and below for more than a year, and currently trading in the middle of the range. The volume doesn't quite tell me its ready to make a move to the upside just yet. We may see it test that $500-504 area one last time. If the NAS can get going and it break $521...
Really hard to play any names this high up. While SPY has formed a rising wedge, it makes it almost impossible to play anything with any conviction without some type of pullback. As traders we don't have crystal balls but I would expect a healthy pullback to 433-436 before making its next leg up. This isn't a signal to short or go long. Just an analysis. Its a...
I believe there are only two short term scenarios for it this week. Moon or tank. Bull flagging on the daily can send us straight to 780 which is also the -.618 and the last hard rejection up there. If the market craters we could see if right back down to the golden pocket where it would visit 650 then 620. I don't think it chops around much longer
one of my favorite names and I believe there are two possible paths that ultimately end up in the same place, at or around $31. You can see algos clearly reacted to the .5 Fibonacci tracement and held it to the penny. Here good starter entry point understanding there may be an opportunity to add on at the golden pocket if it reaches there. Trade invalidated with a...
Must keep a close watch on PTON heading into earnings in a few week. Has made a nice recovery after being beaten down on bad news. However in a very difficult spot, as it failed to make a higher high on the daily timeframe, and could be looking for one more move lower to flush retail out before making an earnings run. This is one of the rare times I will look for...
Looking for a test of the upper trendline but not before filling the gap below. PINS has ran pretty hard after bouncing off the .786, a fib level I typically do not trade off of, but here we are. Another name just to watch, in hope that the gap does fill. Otherwise wait for the breakout of the upper trendline on volume.
UBER has based here for two and a half months, and you know what they say “the longer the base, the higher the space”. Another golden pocket play with expectation of a breakout from the region. First targets would be the .382 and .236. Trade is invalidated with a daily close below $47.50
Playing a long position here, as we have a clear bounce from the golden pocket with two separate touches wicking off the .707 and .618. This is clear indication of algo behavior. This is a good chance to layer into a positions for an earnings run up. 4 target listed above. Trade would be invalidated on a break of the triangle with volume and a loss of the .618.
One of my top trades going into the week as long as the indices cooperate. Looking for another breakout of the pattern. Wouldn’t want to be early, but a break above the trend line is a go signal for me. $287 to the downside is important to hold. However a loss of last weeks low of $285 invalidates the trade.
pretty straight forward here - infrastructure bill play. retrace back to golden pocket $235 area, and then we see. Target $235, $245, and $263
pretty straight forward here - infrastructure bill play. retrace back to golden pocket, $235 area, and then we see.