I think SMCI could easily go either way this week depending what NQ and NVDA do. So here's a follow up long idea to my previous short idea. If the market is bullish this could be a great long opportunity if it goes.back to test the trendline it broke out of. This area also has some previous lows for added confirmation. I expect good movement out of SMCI this week...
Given the strength of NVDA and other semis, it may not be the best idea to try and short into that much strength, but this could prove to be a great short opportunity if NQ falls off. SMCI has broken a shorter term uptrend to the downside, so I'll be looking for short entries on a retest. There's actually two different trendlines it could hit at the same time...
If ES can reclaim and remain above 5300, I'll be bullish. It could rally to tap this trendline/ATH and pullback before moving higher.
If you've been following the GME saga you probably already know about DFV's YOLO post on Reddit. Just as folks were starting to think things might be over, GME had been quietly holding the $20 area and began making higher highs and higher lows leading into close last week. All while the options chain was continuing to be hit over and over by large 6/21 call...
A video going over my thoughts and expectations for the week, I'll continue to post ideas and updates as things develop throughout the week.
BTC broke out of a longer term bull pennant and is now consolidating above and forming another bull flag on a smaller time frame. I'll be looking for longs on this and things like COIN if the breakout occurs, ATH would be the final obstacle.
ETH had been lagging behind BTC, but it's quickly catching up and could make a run to new all time highs this year. It had a nice longer term downtrend breakout and is now breaking out of a bull flag on a shorter time frame.
A different chart from what I posted earlier for COIN, there's always several different angles. But one thing remains the same, this chart also looks incredibly bullish. I expect COIN to be a top performer in the next 2-3 months if BTC and NQ continue to rally. If it can break above $286, COIN is over $100 away from my next target at $368.90 and over $200 away...
COIN made a big move up after finally breaking out of a bull flag it had been forming for months. It has pulled back recently, but I expect that to be a minor down trend. It's just a matter of how long it consolidates before moving higher IMO. This will be one of my top picks for a long if the market continues higher and BTC makes it's way to $100k. If the...
Today was great, had some awesome short setups earlier in the morning and I was able to capitalize. Thankful to have $3k profit after the first 14 days. I'll be taking MIL:1K out so I'll be trading with profits from now on.
I didn't post a recap for yesterday yet, so here it is along with my initial reaction to PCE and some trade plans for today.
I'm bullish on VX for now, but I'm open to a failure. These are.the paths I'd expect.
I'm still most bearish on RTY out of everything,.although if NQ.falls.it.could fall more than RTY. Here's some paths I'll be looking for after we get the reaction to PCE.
Some bullish paths if the reaction to PCE is bullish. See previous idea for bearish paths.
I'm bearish for PCE, but didn't think it was worth trying to predict so I'll be waiting to make some moves after the reaction. I'll have bullish paths in another idea.
I am bearish right now, but I went mostly cash before close yesterday. I'll trade the reaction in whatever direction that presents itself, but if ES can't hold 5240 and VX keeps moving higher I think ES.is headed to 5200 minimum.
Had the best day of the challenge so far and I'm hoping the momentum can continue into tomorrow.
RTY is my favorite short setup at the moment. Had a nice break of this ascending wedge and failed on a retest. I expect further downside, but being cautious with shorts while NQ and NVDA are this strong.