Steversteves

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...

Steversteves Updated 

Is it time to long IWM after today's bul run? To get to the point, IMO, No. Here is my analysis and plan with IWM: Fundamentally: Some of the biggest stocks with the most growth of 2021 were small cap stocks, which IWM tracks. These are the stocks that are being hit the hardest with this market correction. *cough* AMC *cough*. Historically: IWM has surpassed...

Steversteves

XOM has really been quite the little champ. It, as long as other oil stocks, have been able to maintain bullish momentum despite the massive crash happening in practically all other sectors. It has broke through his 8 year down trend resistance and has managed to hold this area, even through this selling off of SPX and Dow. I definitely regret selling my long...

Steversteves

BA has been maintaining a bullish sentiment. On the daily, it looks like a potential bear flag; however, historically BA daily charts don't really follow through with bear flags. I expect maybe a V shaped path followed by a fall to the downside. My linear regression model of BA shows to watch for highs of around 206 - 209 to the upside (there is strong...

Steversteves

We had a flat top bearish candle form yesterday on the daily chart with Heikin Ashi and it continued today. Historically, from the formation of the flat top bearish trend, BA falls on average of 12%. With earnings coming up next week (January 26th) I think we will have continued sell off. There is also a lot of psychology backing my thinking. BA has been...

Steversteves

Simple Supply and Demand Analysis of SPY using Heikin Ashi. Assuming that SPY is going to break the 449-451 support zone (which I have no reservations in believing it will), the next demand zone would be in the 442-445 area. If it bounces in this zone and remains above the demand zone, a 10% correction is unlikely at this time. However, if it pierces through, we...