I think MSFT might be going for a gap fill from Mondays price jump Supporting technicals are annotated on the chart other S&P stocks are indicating a pretty bearish day tomorrow as well as VIX and DXY looking long
VIX is looking like its getting ready to break out of the falling wedge it's been trending in I could see it breaking out before EOD or early tomorrow at open Other supporting technicals are pointed out on the chart
AAPL looking to pull back a little bit It's been trending in a weird rising wedge (weird because of all the gaps) Further supporting technicals pointed out in chart
Seems like DXY is forming an inverse head and shoulder against the resistance line of the pennant it's formed. This pennant is also inside of a larger rising channel. RSI and MACD are also both at levels where we could see weakening of the downtrend and reverse.
NFLX is looking for a pullback after the big jump post earnings. In my opinion it seems like NFLX is overbought and forming a fairly big double top.
COST is currently trending in a rising wedge pattern and it's looking like it's coming to an end soon. Further analysis and supporting technicals are annotated in the chart.
So after this mornings rally its looking like most S&P stocks are overbought and overextended. I'm labeling this neutral because theres definitely a decent chance NFLX goes up but as the title says, my personal opinion is that it feels bearish to me. NFLX just hit it's fourth top and is looking bearish on the hourlies heading into it's earnings this afternoon....
Vix is currently trending in a falling wedge formation (possibly looking for a bullish brekaout) If it breaks the wedge then theres a chance VIX is forced to the top resistance line of the pennant its formed. Theres also a possibility that the breakout of the wedge forces it to breakout of pennant and push even higher. If this happens then we could see a VERY...
I think the sharp recovery that happened when we hit support today has set up the market for a bear trap at open tomorrow. 1. Lots of stocks ended the day at or near overbought levels, setting up for a selloff Friday open. I'm seeing same or similar setups on $COST $MSFT $AMZN all variations of rising wedges / rising flags 2. DXY: was trading in...
Last 2 earnings not great Rally today pushed it to overbought RSI and MACD levels and lastly its trading in a falling wedge pattern
I expect a second large drop on open tomorrow. When we hit support earlier today it sent most stocks into a near parabolic climb. Rising wedges are forming on a lot of stocks, I think this sets us up for a breakdown tomorrow morning.
I believe AAPL is going to have its third major drop this Thursday into Friday This should allow us to retest our previous low point and major support of $129 In theory AAPL should bounce here Friday and form a double bottom for some relief next week from this bear rally we've been in. I'll re-evaluate Friday if AAPL follows the chart and I see anything that...
Vix is bouncing in what looks to be a bullish pennant. I think VIX is going to test the previous high at 34.85-35ish In theory this should create a double top. Pennants can easily be bullish or bearish though depending on market sentiment and momentum really so there is a chance it breaks to the down side. If the pennant turns out to be bearish there's a...
I think we're gonna have some temporary relief here in this rising channel before falling out and either.... 1. COST breaks the support and drives down to $446/$448 levels. or 2. COST bounces at support and goes back up to retest a gap fill.
AAPL looks like it's ready to go for a gap fill of this mornings gap. I think it's gonna go back down after hitting 140.50-140.80 range. This should form the right shoulder of a H&S pattern.
A rough head and shoulders pattern forming inside of a potential double top. Some other indicators are pointed out in the chart to raise probability.
It seems like VIX may run up either tomorrow or sometime over the course of next week. VIX is trading in a falling wedge inside of a rising channel Theres a few other indicators I've highlighted in the chart to possibly back it up. Possible upside run to 35.00 The other possibility is that we're nearing the end of the rising channels lifespan and we see some...
All the other top weighted spy stocks ended in overbought or near overbought RSI levels after the steep bull rally today. Msft looks like its set up a double top and is ready to go down hard tomorrow morning.