$BA has already slipped twice below the bullish trend line . We're set to test the 200 SMMA again tomorrow, but I think with some market exuberance, we first re-test the double top which sets me for a pretty good short entry. While COVID fears continue to rise and with very little $BA can do to address the current rate of cash burn, I think we pull back down to...
Great momentum on ARKK and I want to build a long position. I'll be watching this channel to see if the top of the channel smacks it right back down and will scale in little by little as we hit the middle of the channel.
Looking for a break on the highs to continue the bull run. I can do a 1:3 or a 1:5 based on the 1.272 fibs.
Sitting right at the bottom of the channel here affords us a tighter stop loss and a lot of room to run to the 200 SMMA
The right shoulder on the reverse H&S may have bottomed. It's important to note that the neckline is tilted on the upside, so I'm giving the bullish case extra weight. There's the 200 in the way and a trend line since the initial recovery, but with states easing, I think we can see it bump to $26 in the short term. Like I said, however, lots of things in the way...
Looking to retest at $444 and a revisit to the 0.618 (413) to complete the corrective wave on the bullish run we've gotten to enjoy
If we hold the line throughout the three day weekend, I suspect we run up to $295 for shorts to exit their impulse wave the last few days. At that level, the right shoulder could form and start a major impulse wave down. A sniff of any good news in terms of vaccine news, and we'll move to the top of the channel confirming the bull flag
NVDA is defending its trend line pretty well for the most part, but most importantly, it has now filled the gap to $290. VPVR shows strong volume at these levels, so if NVDA can solidify its position here and continue upwards, I'll move in for the play. If we wait for price confirmation, we can conservatively expect a 1:5 return, but if we hop in early and keep...
$BA for the most part has been trading in a range, but it's also started to form lower highs. Keeping my eyes on $BA as we approach the critical support level at $123.50 which it has now defended 3x. A break on that support level will trigger my entries for a conservative 1:3.5 risk/reward and upwards to a 1:5 return. A break on the descending triangle kills this...
Lots of momentum behind NFLX and we're clearly in an uptrend. The corrective wave is coming to an end as we bounce off the support . I'm looking for a retest or even a break past our previous high prior to earnings report after hours.
Why are we at October '19 lows? What justification do we have to be here? I'd like to reiterate the wise words of Warren Buffett, "The stock market is a device for transferring money from the impatient to the patient." We have managed to rally just 16% away from the all time highs in an extremely short period of time. I'm going to wait for more short indicators to...
CLX forming the right shoulder which could end its current channel, however if CLX defends the trend line, then we can continue to move in this channel and eventually break upwards.
If VPVR breaks ($1227.07), we can start to see downside on $BKNG since all of travel is still struggling. I believe we can conservatively see '99 IPO price of $987.04 sooner, but considering the gaps in volume, I think we can see the March '12 support in a pretty bad scenario. It's important to note, however, that the MACD is cooling off on the weekly and the...
NASAQ lagged behind S&P and DOW today. MACD cooling off, and we're bouncing off the bottom of the bb. 0.618 fib is right at the middle of the bb and the 200 EMA where we can expect some resistance.
A lot of confluence occurred towards the end of the day. SPY broke the 14 EMA, the 50 EMA, the trend line and has rejected a previous support 3x on the 15m chart.
MFI indicator diverged on March 26th and the 0.618 fib was rejected on March 27th; both indicators are showing weakness on the upside. The conditions that triggered this initial sell-off still remains and is expected to get worse. OIL is cheaper than my lunch, and COVID-19 stats are far from the apex due to lack of supplies and available tests. We're not done...
Using Fib Speed Retracement, MCD will close at either 0.382 / 0.5 fib. EMA's are starting to pull down towards the 200 EMA which leads me to believe it'll close lower.