Michael_Huang1

Michael_Huang1

W pattern formation and breakout very good chance. Good probability of testing $31. Less likely to break it, but still likely to go up to 32.25. MU has an intrinsic value of over $40 based on discounted cash flow assuming 5 year growth of 11.23 % and 15 year terminal growth of 4% with a discount rate of 11%

Michael_Huang1

Technicals point to big move. Fundamentals point up. Description on chart. $SPY $QQQ $IWM

Michael_Huang1

The pattern IWM has been showing has two long red candles with a gap in between each time it goes on a large dip. Today also showed a larger drop on higher than average volume indicating selling with some conviction. I would expect this move to continue a little lower at least down to 112.40. Although I could be wrong when Santa comes to town to buy up...

Michael_Huang1

We are now stupidly parabolic.

Michael_Huang1

Some very short term upward momentum in IWM should bring it up to around 116 tomorrow. After it reaches the trend channel top it should fall sharply as it continues its negative divergence and moves with the larger downtrend. I very highly doubt that IWM will hit the bottom soon as SPY and QQQ have not quite started to follow down with IWM. I plan on buying...

Michael_Huang1

It looks like energy stocks bounced too early. Look out below!

Michael_Huang1

Here is an amazing long term growth and value play. Description on chart $$$$$$$$$$

Michael_Huang1

Currently the market is overbought and there few good deals left. The IWM is starting its long fall. I am betting that it will fall to 110.50 with a stop at 119.90. Generally speaking the volume is so low now because no one wants to buy at this level. The technicals look very grim for IWM. Most stocks are priced higher than what they will probably earn over...

Michael_Huang1

Everywhere I look I see high flying unrealistic evaluations. Just a month ago everyone was calling for a correction at levels below these. While earnings has come in pretty positive as I expected, investors and traders have still driven the prices up speculating in high flying nonsense. I find it disturbing that the few companies that are actually priced less than...

Michael_Huang1

Everywhere I look I see high flying unrealistic evaluations. Just a month ago everyone was calling for a correction at levels below these. While earnings has come in pretty positive as I expected, investors and traders have still driven the prices up speculating in high flying nonsense. I find it disturbing that the few companies that are actually priced less...

Michael_Huang1

Update: Stopped out, Its in a down trend more so than a bull flag. The current setup gives an excellent opportunity for good risk/reward. The trade has a high probability because of the psychological impact of all time high. Currently the stock also has the underlying fundamentals to achieve this.

Michael_Huang1

QQQ will be pulling back to 99.71 as momentum drops off for a bit but as it does this it will become oversold and hit a major support. Expect QQQ to break through 102 in the next move up after bouncing off support. I would be surprised to see another dip past 99.71 so soon after a 10% pullback. Market will most likely go higher for a little while.

Michael_Huang1

Tomorrow is a critical day for QQQ and other indices. QQQ will be approaching the top of a down trend at the same time as a major resistance level from the July 24th top. If it manages to break this level it then has to contend with the 50 day moving average. Currently the momentum looks to be in favor of continued upside. This major resistance may only serve...

Michael_Huang1

QQQ is barely hanging on to its 200 MA and bouncing off of the 90.34 fib level. The RSI indicates QQQ is extremely oversold in the short term. I believe it should have a relief rally to the 94.30 fib level. Watch for whether it breaks that level or bounces back down. That level should be critical for whether or not we enter a longer term bear market. Overall...

Michael_Huang1

Currently QQQ is in a rising wedge and overbought with a negative divergence on the RSI. A correction to previous fib levels would make the chart look healthier.

Michael_Huang1

Several major technical indications are pointing to a turnaround in the current sell off. With QQQ bouncing off of 84.20 a major double bottom is likely to form. Also the past couple of weeks a falling wedge is forming indicating a sharp turnaround. Lastly a positive divergence in the %BB indicates a big up move.

Michael_Huang1

Ford is breaking out of a downtrend during this current dip buying rally. It just broke through the 200dma and will likely establish a steep uptrend to test new highs.

Michael_Huang1

Description on chart