Steversteves

Steversteves

NVDA is trading incredibly strong. In fact, it is the strongest stock that I have been watching in this crazy market thus far. It is still poised to breakout of that descending resistance despite that damning news of CPI , and it has managed to hit my forecasted targets and maintain itself in its predicted range. Today, my predicted levels vs. actual were: High:...

Steversteves

SPY and its gaps. But I anticipate this newly created gap being filled by tomorrow. SPY has officially double topped as I anticipated. This gap up was right on time actually. Had SPY taken its sweet ass time going up to make this double top, it wouldn't have likely been able to create this strong technical pattern to signal its impending fate. The reason,...

Steversteves

Despite this morning gap up, TSLA still traded incredibly weak today and has not been able to break out of its bearish flag it seems to be making. I ended up playing TSLA long right off the open (which I like never do, especailly with TSLA ) but generally when we see these gap ups, my adjusted high calculations based on TSLA's open price are met. However, they...

Steversteves Updated 

If you are planning on playing QQQ tomorrow, wear a life jacket. Its going to be choppy. We are poised again for another yawn fest. QQQ is being really ostentatious with its bearishness. We have a head and shoulders type pattern (blue) topped off with a nice little bear flag (red). You would expect some good conviction with these patterns, but my calculation...

Steversteves

BA has managed to gain back some bullish momentum and is tracking its way up. It is making small and sustainable increases in price which I like to see. Slow and steady wins the race! Its going to be pretty much smooth sailing IMO for the next week. The problem will come when we approach the descending resistance channel around 222/225. My outlook has changed...

Steversteves

So I ended up closing out most of my long position today (the option portion, I'm now official, again, a XOM HODLer. Is that what its called these days? Wow. This was much faster than I expected. I didn't think we would hit 83 until end of February, but wanted to give myself till March. I am still holding a small long position (2 contracts). It's small because...

Steversteves Updated 

I stand corrected. I expected a boring day today and it was actually quite interesting! This morning was particularly interesting. It was like watching wack-a-mole for the stock market. Any time SPY managed to cross into the 450 zone, the market was like "Nope *WACK*". All jokes aside, the reality is today was a hot mess and SPY was full of both bear and bull...

Steversteves

Hello fellow trader love muffins, Its your token quantitative trader here. Expect a boring day tomorrow. Both bulls and bears are likely to be disappointed. This is based on my calculations and on the price action of futures. I was hoping for a bullish start to futures that sustained for most of the night (similar to January 24th) as this generally signals...

Steversteves

imgur.com imgur.com I am attempting to put in images via url, so lets see if this works. I may have to delete and try again. Anyway, as you all saw, SPY and DIA rallied on Friday, only to (as expected) sell off aggressively at end of day. However, I was just updating my projections this morning and seeing where that puts me with DIA (I am in a short...

Steversteves

SPY was a brat throwing a tantrum today. But it served a purpose. That unnecessary and quickly rejected bull run that happened yesterday aftermarket, yeah, that atrocity created a gap. SPY filled that gap today and in the process created a nice double top. There are still 2 more gaps that are on the table, one in the 400s, the other in the 460s. So where does...

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Steversteves Updated 

Leave a comment if you would like to learn how to calculate the formulas or you have any other questions. Hope you find this useful!

Steversteves

With BA I generally play price action. I spent some time last evening modelling it in SPSS for intra-day trading (I have a long term regression model of BA already). Came out with some intra-day price target regression formulas. I did some testing last night but got tired and went to bed. Today, I decided to try them out IRL (Which I usually never do without fully...

Steversteves Updated 

I honestly have never seen a more pronounced bull flag on a daily chart. Going to go long tomorrow, March 25th expiry contracts + add shares back into my holdings (not a day trade, just an investment). Projected conservative highs for March are around 83. If we continue to see the bullish momentum, highs exceeding 83 are to be expected. Analysts are giving this...

Steversteves

I don't think this one merits too much of an in-depth analysis :-). I don't generally trade TSLA but this seems pretty straight forward, no?

Steversteves Updated 

The stars aligned today! My predicted high of today was 458.03. We made an actual high of 458.12 followed by immediate rejection. This also happened to be VERY close to a descending channel of resistance. That was my que to take an aggressive short position (circled in red). I am trying to avoid swinging under these current conditions, but couldn't refuse this...

Steversteves Updated 

IWM is testing a descending channel. The flattening/pancaking of heikin ashi signals an aggressive impending move (up or down, who knows really). Odds are actually in favour of a move up, tbh. Probability of low less than or equal to 200 is 14% (Based on past 2 months of performance data). Probability of a high greater than or equal to 200 is 97% (Based on...

Steversteves

Hey swingers ;), I am not going to lie. This market has been tough for swing traders and stressful for intraday traders to say the least. The big names like SPY and DIA have been really dramatically bipolar. There is a diamond in the rough though and IMO that is XOM. As expected, XOM managed to breakout yesterday and today from its 2019 supply zone (see my...

Steversteves Updated 

XOM made for a predictable Short play today. XOM Retested that 2019 supply zone and was again rejected. It respected support at around 74 looks to be heading back up to re-test 2019 again. The two potential outcomes I see based on the chart are: 1. Retest of 2019 resistance followed by bounce back to that 74 support, followed by a bounce back up and potentially...