Eclubtrading

Eclubtrading

The overall market had an impressive rally in July as it reached its 200SMA where it was rejected at the first attempt. Jackson Hole proved to be a turning point for the markets as the FED continues to be determined to fight inflation at all costs. Despite better than expected inflation readings, the markets continued to drift lower. We are approaching an...

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The overall market had a fast pullback after it touched its 200SMA last week. After a drop of 20 points, the market is currently oversold on the daily chart. Yesterday we filled the CPI gap from August 9th. See if we get a reversal candle ahead of the FED meeting on Thursday-Friday. $417 is an important resistance area below. In case the selling continues,...

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Loop Capital issued a $100 price target for this small battery play. Yesterday it had good volume and managed to get above its 8EMA. We are long as a swing with a stop at $18. Next big resistance level above is $24-26.

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The biotechs led the market from the lows in July. Last week, the sector had a sideways move as it rebuilds above the moving averages. Keep it on your radar in case it triggers above $95.18 for a move past $100 in the coming sessions. $90 is active support for the week.

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$TSLA managed a classic reversal on Friday as it reclaimed $857.50 for a move above $900. The overall chart pattern looks like a cup and handle which will trigger above $915-930 for a move past $1000. See if it absorbs early weakness today and manages to stay above $890 in order to keep this pattern intact. We are long calls for this week and for mid-September in...

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Last week the strong jobs report weakened the markets as analysts expected the FED to approach a more hawkish attitude based on this reading. However, yesterday’s CPI which came in softer-than-expected and created a goldilocks situation. A strong US jobs market coupled with a lower inflation are a perfect recipe for the stock market moving forward. As long as the...

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The tech sector had an impressive July and managed to get above the $300 psychological level. It is building once again a bull flag above the moving averages. Last time around in June, the channel broke to the downside as the sellers returned. Will this time be any different? From a macro perspective, the recent inflation readings and FED policy seem to favor a...

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$AMD had an impressive active sequence in July and managed to clear the recent channel high around $91.5. Earnings are due tomorrow after the closing bell. The stock is priced for perfection given the recent move. Other chip makers delivered mixed results so it will be very important to see if $AMD can continue to outperform in the long term. Guidance for the...

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$GOOGL delivered a strong report last week when it announced quarterly earnings. The stock has underperformed the tech sector this year. On Friday, it managed to clear $115 and is currently en route for a re-test of $119 if the overall tech sector remains strong. It is not as extended as some of its peers so it is definitely worth a look. The longer it holds above...

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Nasdaq posted its best month in July since 2020. Better-than-expected earnings from the tech giants helped the $QQQ clear $300 for a rally up to $316. The market is currently overbought so a few inside sessions will create a better set-up for the next leg higher. In case $AMD delivers a strong report tomorrow, we expect the $QQQ to continue higher. If it manages...

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Bitcoin had an impressive active sequence in July as it managed to get out of the recent channel. After a few inside days, the chart is getting tight once again. The longer it holds above $22.400, the higher the probability we will see a rally to the next resistance area around $26.500. Buying dips and selling rips will continue to work as long as the overall...

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With earnings out of the way and a new clean energy bill signed, $TSLA looks set for the next leg higher. Yesterday, the stock defended its 200EMA and made a push above the post-earnings high of $842. With better-than-feared earnings from $AAPL and $AMZN, the market looks set for higher prices in the coming period. As a result, the coast is now clear for $TSLA to...

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After an impressive oversold bounce, the overall market looks set to close the last gap on the chart to $401. The earnings season is mid way through and so far the companies met the expectations. Depending on how the big guns $AAPL, $AMZN, $GOOGL and $MSFT perform, we may see a push to $407-410 in the coming week. A few digestion days above $390 will be...

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$AMD has been battered and bruised in 2022. The stock is down more than 60% from the highs of last year. Any meaningful bounce in the overall market needs to start from this sector. Watch $AMD and $NVDA as overall barometers of the market. $AMD in particular is quite oversold and may offer a bounce up to $80 if the market gets more constructive during this short...

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$GOOGL posted a bottom tweezers formation on the daily chart. We continue to believe that this stock will have some sort of oversold bounce into the split this month. We are long the $2250 calls for July 22nd. The first big resistance area for this week is $2217. Reclaiming the 8&21EMAs around $2240 will be an important aim for the active bulls this week. See if...

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The overall market posted a higher low on Friday and closed strong as we witnessed some window dressing ahead of the July 4th weekend. For this short trading week, see if we close the gap to the 21EMA around $386. The lower than expected PCE number should offer a decent bounce at least in the short term. See how the market reacts to the FED minutes and the June...

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Palantir got a price upgrade this week from Bank of America and managed to close the recent gap on the chart at $9.42. If the small caps starts to act better and if the $IWM can reclaim $175, we have some space up to $11 before encountering more resistance.

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The overall market is en route for a new green week, the second in the last 12. For next week, we expect the $SPY to attempt to close the first gap up to $390 if the market conditions remain similar. A close today above $382 is the first step for the active bulls!