Unraveller

Unraveller

Peleton has been on a healthy uptrend since May of 2020 and looks like it is going to test the lower channel of the trend. Expecting a bounce here at 64 level based on current accumulation but based on fundamentals, there could be a break of a trend as well.

Unraveller

SPY is still trading in range with momentum increasing on the short side. Will be ideal if spy can break below 320 tomorrow and break out of this range. The market certainly needs a pullback to key demand zones to get bulls interested before it can rally back to all-time highs ( if it were to happen). Good luck tomorrow!

Unraveller

SPY is currently trading in a tight range between key dark pool levels. With big earnings week ahead, we could break out of this range and make a significant move ( direction TBD). The market has been trading with a huge bearish divergence in fundamentals, momentum, and volume for quite some time now so will be nice to see a good correction to key demand zones...

Unraveller

SPY is currently trading in a tight range between key dark pool levels. With big earnings week ahead, we could break out of this range and make a significant move ( direction TBD). The market has been trading with a huge bearish divergence in fundamentals, momentum, and volume for quite some time now so will be nice to see a good correction to key demand zones...

Unraveller

Analyzing 4 HR chart of SPY: Counting the waves in a shorter timeframe makes it pretty clear that SPY has completed 5 impulse waves and is currently going through the corrective phase. Huge divergence on most momentum indicators, volume, and fundamentals can make the corrective wave C an extended one. Currently projecting a drop to 0.38 fib level ( 283) or 0.5 fib...

Unraveller

$TWTR has been accumulating in the mid 25-30 range for quite some time. It closed above 29 on Friday after good news catalyst after testing the lower channel of the 4H trend line. Expecting it to continue trend and break that 30 resistance level this week. Targetting 33.5 level in short term. Note: These ideas are my own and should not be considered as...

Unraveller

AMD started downtrend from ATH 59 level and created a new bottom at 37.64 thereby completing ABCD pattern on 3/18/20. It has since started a new impulse trend respecting ABCD harmonic pattern with fib levels acting as resistances. On March 30th, AMD completed 0.5 fib retracement 48.02 to complete wave B without going through a single pullback, therefore, it had to...

Unraveller

I was really surprised to see the market gap up the way it did on literally no news today but faith was restored as we saw a very bearish close. At one point, I was thinking that corrective wave C may get extended to 0.5 fib level 279 but the market sharply sold off to close at 0.38 fib level 265. Tomorrow's session will be interesting and without any good news...

Unraveller

I have been getting questions on why I think 0.38 fib level ( 265) is important and why I think the market may reverse from here. Most of you know I rely on Fibonacci levels for plotting supports and resistances in my charts. I also incorporate Elliot waves in my market analysis to study current price trends and predict future price trends. In my chart, you can...

Unraveller

SPY broke the short term trend line at 235 closed the day strong just short of 0.23 fib level/246.70 ( may fill gap AH today). As stated before, vix/vxx was rising throughout this bullish move indicating a rise in fear/ presence of bubble waiting to pop. Volume was also relatively low ( compared to previous big up/down days) so this is likely just another gap up...

Unraveller

Market opened flat yesterday and looked like it was going to be a choppy session but then it started to gain slowly throughout the session surprisingly amidst bad coronavirus news. Almost all sectors under the SP500 closed green making yesterday’s gain the biggest single-day gain since 2009. From a technical standpoint, SPY resumed the move up after last week’s...

Unraveller

$ZM is now consolidating nicely in 88-91 range in a tight channel after breaking out of the late 70 levels. It appears to be losing momentum and volume but the longer it stays in 88-91 range, chances are high that it breaks out of the channel to make the next move higher. That said, I have set alerts for both calls and puts since alerts set on both sides.

Unraveller

$COST showed strength last Friday when market was selling off and it looks primed to break all-time high resistance of 314.28. The stock has been accumulating heavily since last earnings and has broken out of the consolidation range of 290-300 recently. Investors are looking to add to value names due to current market sentiment and stocks like COST, WMT, etc. fit...

Unraveller

$Bynd was downgraded by JPM today due to valuation concerns and as a result it pulled back after initially opening green for the day. It has found support in 117-118 area and is sill within the trend lines. With some positive news catalyst, this looks ready for another big move before ER. Waiting for break and hold above 122 for calls.

Unraveller

WMT has been on a downtrend for quite a while now but now it is finding support in 114.5 area going through a consolidation phase. After two failed attempts to break downtrend last week ( albeit on low volume days), it now has three touches off support and decent accumulation at these levels. The chart is forming a descending triangle pattern near support so one...

Unraveller

$SHAK seems to have found it's bottom and is steadily consolidating in 57-60 range for some time now. Weak hands are selling now but there is heavy accumulation in the stock if you observe a shorter timeframe. WIth ER in March and a big gap to fill, expecting this to break out any day now. 62.5 is resistance so once it breaks this test, we can expect it to rally...

Unraveller

ADBE has been on a great run since December but it looks like it is on the last leg of this run as it overbought on multiple indicators whilst near resistance. We secured 100% gains by playing some call options in this run. WIll be watching what it does next week.