JTI96

JTI96

We look to be completing a correction in pre-market from yesterday's morning pop. Still think there is time to go up until the green trendline is broken and closed below. Looking for a break, and attempt to reclaim it before a larger sell-off. We'll see.

JTI96

In a previous post we talked about how APPL had to retest that Green trendline before it could continue to make a decline. We're only a couple of dollars away from it now. Personally, I wouldn't touch it to the longside until it rejects the green line, and finds some support around the 195-197 area. With China and chip stocks still getting battered the way they...

JTI96

The tape isn't the same, but I think the January 2018 result is going to be the same. I'm not one to call these 10% 2-3 day drops, but if there ever was a time for one....it's now. Fed...fed...fed...the media has groomed every retail trader that "everything is going to be okay if the fed signals they will cut rates". First off, what part of "Fed expects no cuts...

JTI96 Updated 

I think that my original green box target from a couple months back is looking more and more likely to be hit before a big move down occurs. MACD likes to retest the median line before continuing a sell-off which has pretty well just happened, and the state of the economy says sell! sell! sell! but.... The charts and volume say otherwise to me. Volume over these...

JTI96

Pretty clear to me that we are in the Euphoric stage of this bull market. Just ask everyone buying into the market whenever there is news that there could be MULTIPLE rate cuts this year. Remind the last time that was a good sign for the economy? Or take a look at the 40 billion dollar cloud stocks that are yet to turn a profit. Cloud.COM in my honest opinion, but...

JTI96 Updated 

Down 7% and we are yet to see a panic sell? Can't imagine being bullish in the long term until there is one. Target is $270 in the next couple days. -270 has been the center of numerous bullish and bearish bounces over the past year and a half, and just so happens to line up with the trendline set from the lows back in early January 2018. -A bounce back to...

JTI96 Updated 

We're sitting right on a major support level for the Q's and at 50% retracement. Pick your poison: Long - Currently oversold, and saw a good bounce off 169.24 today. Expect a potential run up to the green box. Stop/Loss on a brake of today's lows on volume. Short - Don't really see any form of support until $160 if $169 breaks. If it does break with conviction,...

JTI96

Albeit I don't think we are done going down in the long term, I'm bullish short term. AAPL and BA both broke critical support/resistance areas. I'd be surprised if the $202 and $362 areas were not retested before there is further downside. Couple days of upside, and we'll see what happens from there. Looking for upside to the $289 area. If we break the area,...

JTI96 Updated 

It can't be this obvious can it? Volume spiked when we dropped to the 287 pivot both days. We gapped down the next day (much like today), had a minor dip buy for that day, tried to go higher the day after, but failed to hold the highs....and then boom, down we went. -That boom down we went day...would be this Friday. A repeat of exactly what happened less than...

JTI96 Updated 

It was the QQQs that heeded the early warning signs to get out of dodge back in October. Those signs are arising again. There is literally like 8 different wedge patterns you can draw up on the SPY, but none are quite as clear as the Q's have been. Last time we broke the wedge (2018), we ran back up trying to retest the bottom side of it before ultimately crashing...

JTI96

Green Trendline has been a major support line since 2016. We seen many bounces off of it, and when we broke it to the downside, it was retested. We retested it on the upside as well, meaning it's a very respected line by traders. Apple has come in very hot into earnings, how'd that work for GOOGL? $200 will be hit tonight likely in after hours. Whether we bounce...

JTI96

After seeing @DorofeevML's idea, I decided to do a little re-analyzing. One thing I've learned over the years is that finding points of confluence is very important. Green box = Target 1 - We can trade within in the range up until 300, which is: 1. A huge psychological number. 2. A point where we can see the wedge break. 3. Overhead resistance from the...

JTI96

Admittedly I've been a bear for awhile, but I'm turning more and more neutral for the long term now. indicators are telling me a correction is coming in the short term. Bearish divergence on the macd, RSI is overbought, volume is dropping more and more, inclining wedge. The question is how big of a correction do we see? The one indicator that changed my bearish...

JTI96

NFLX has been in a rising wedge, typically seen as a bearish pattern. I do think it is possible we see a false break here to complete an ABC pattern here. Then a pop back up to around $285. Buying in around $242, with very very tight stops. With the state that the market is currently in and how common it is for NFLX to make big moves in a short period of time,...

JTI96

Blue: If this is indeed a rising wedge that is being honored by the markets. We often see that final wave up fail to reach the upper/lower trendline. Sure the markets are bouncing back once again today. How is big tech doing though? AMZN, FB, NFLX, NVDA, GOOGL all are lagging the market today. How much farther can we push without them? Green: We could grind...

JTI96

I'm really not sure what is more humorous, my ability to create a chart, or Trump saying "We'll know if we have a trade deal within four weeks". We've been WEEKS away from a trade deal for MONTHS! If China has it their way, we'll be weeks away from a trade deal in November 2020. Why do people keep buying into this like it's new news? Regardless, people keep buying...