OptionsAddicts

OptionsAddicts

The Russell2000 needs to be stopped; the small cap index is filled with flaky names that have yet to make profit. These companies, for the most part, don't earn money. This index will continue to get crushed. We played the upside breakout to 240s, and we also played the downside break to 190s. I called the top on this index at 225. I am forecasting lower. The...

OptionsAddicts

Hello everybody, I'm giving a mid-week update to the market forecast from the other day. I typically do not change my market forecast mid-week, and if the price target isn't reached in the time limit that my line suggests then I typically extend it into the following week. My downside price target is around $344 to $343 on the Invesco Nasdaq 100 ETF. I put out...

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Ford has had an epic rally lately but it is simply overbought at these levels so I am expecting a slight pullback. Nothing major, just a small pullback.

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Energy has been on an absolute tear lately but it can't rise to the sky. It is very overbought according to the oscillators and RSI. I also am eyeing that open gap which lines up right with the 0.50 fib channel retracement level.

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THIS IS A QUICK TRADE BASED ON RSI AND RETRACEMENTS. I am thinking that the general markets are very weak and that Solana has ran up too much.

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Drop in vlume on the way up, doji forming, gaps open below the market, oscillators wayyy overbought — this is ripe for puts and I bought puts on BABA.

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Fib .50 and gap fill target to the downside; I just played AMAT calls and sold for +600% so I am trying to double whammy.

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I think that Dish is super overbought on a bunch of technical indicators that you can see on your screen. I'm expecting it to fill that gap first, and possibly reach the full length of the forecast line.

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I'm expecting a move to the downside to complete this ABCD pattern in $DIA. The gaps below the market will act as price magnets, and the same measurement from A to B from C would fill the bottom most gap. I love this setup, and I'm buying puts on various names within the index and broader market to play it. We could potentially see the pattern continue to the...

OptionsAddicts

I'm expecting a move to the downside to complete this ABCD pattern in $DIA. The gaps below the market will act as price magnets, and the same measurement from A to B from C would fill the bottom most gap. I love this setup, and I'm buying puts on various names within the index and broader market to play it.

OptionsAddicts Updated 

We officially filled the gap on Friday, 12/17, because we had actually bounced off the moving average before we could fully fill it on Tuesday and Wednesday. Gaps on equities will fill about 80% of the time, and then the markets tend to reverse 80% of the time after a gap fills. We have gaps immediately above and below the market right now; I think that...

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We closed out the week with a green candle on higher volume, and while the Dow was dropping. We have the stochastic moving higher, called a hinge, and the CCI is pointing lower but we have a positive divergence because of the lower lows on price action. I believe we test the new resistances at the highs from previous sessions. If the small caps rally this...

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We closed out last week with a spinning top on an increase in volume. I actually think we have to go a bit higher to fill that slightly-open gap to the upside before we pull back. Not all markets are going to be trading in sync, so pick and choose which positions you want and be careful with how you’re spreading the market in this particular point in time. So...

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CBOE Volatility Index, a real time index that represents both the market’s expectations and relative strength. You can also call it the ETN for Fear & Greed, or, FOR THE MOST PART, the inverse of the S&P 500. We closed with a long shadow above the candle, right at that 20 period moving average — I think that is bearish short term, but I think we will bounce...

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I think we will see a move up to that moving average, where we could see another pullback from the moving average reversing its role last week and turning into resistance during this week’s session — until we break it like we did in mid-October then we will see it as resistance. If you’re buying technology here, trail your stops or establishing sell stops...

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This is just for me to check on it later This is just for me to check on it later This is just for me to check on it later

OptionsAddicts

This is just what the charts are telling me so I would like to see what you all think too.