We see a bounce off this year-long trend line happening currently on the QQQ. I would like to see a close in a hammer formation. Really looking for that 370.75 area to be reclaimed. The weekly and monthly setups are still looking pretty bullish. The FOMC tomorrow could be the catalyst to push this either way. A break below 366.70ish is is an ugly event to me this...
BA has tested its 200 ema and consolidated on that level prior to falling back to confirm the double bottom formation. The coming months for BA are going to be interesting. An overall price target for BA will be in the 275-278 area. I can see this catapulting past that with a minor retracement. These levels haven't been seen since Mar 2021. I am bullish on BA in...
BBY is gearing up for a large move.
One direction or another the move BBY is cooking will be nice and quick, with follow-through hopefully into the next week.
On the left we see that BBY has completed a double bottom it's almost textbook.
I suspect we will consolidate into tomorrow afternoon on BBY.
The daily chart seems to confirm this with a similar double...
DOW has completed a head and shoulders pattern. We see this evident in the multiple breakouts confirming the pattern.
I suspect we will reach $59 before a pull back occurs. This is especially true if the SPY plays nicely with the DOW move.
We have a very small inverted hammer on the weekly. This is a bullish reversal. We need to see confirmation over the next couple days. The weekly 200ema is feeling the pressure of MSFT trying to push lower.
On the daily we see multiple attempts at the 9 EMA. We also see strong resistance and selling pressure in the 228.40-232.20 area. We also see similar...
Roblox has broken up a bit. We will see how it behaves around the up trend line. If we can get through $30 I think we have a clear move up to the $32-$33 area. A counter thesis would be a strong rejection off the $30 mark. Rejection would mean a test of support around $28.
TSLA is being played with by institutional Robos. I expect a pop up to the blue 8 EMA Line.
Watching 114.20 for resistance, 117.14 is a first target, 120 area being a nice wall to hit before dropping or moving further into the 125-130 area. If we hit the 120 wall I suspect we will retest today's highs for support. TSLA is finding its feet.
IF we are able to...
I am not sure how long it will last considering the condition of the market. However, this move is super strong. I am watching 202.50 as a profit-taking level. If we break that level we could see a push up to 205-210.
In the coming days the SPY could drag AMD down to it's previous Oct 2022 lows. Watching the $64 area closely for support. Also, watching the $67 area, as well as the 65.15 area for resistance.
I will be going short once $64 is broken convincingly, I would like to see $63.50 broken before taking a position.
Spy is looking weak right now. This huge spike-up couldn't hold this morning. It has respected this up trend line for 3 weeks now. I doubt this up line will hold another week. We may even see it collapse this week. The daily chart is just as ugly. I expect a big move to the downside is coming in the near future. buyers are drying up. Green volume is down. We will...
Algo support and overall market uptrend supports have been breached on the SPY. Next target is bearish down to 373.63. Upward resistance is now 382.50. Watch today to confirm my short bias.
Monthly SPX looking super bullish. A super bull flag has formed. I suspect either 2024 or even Q2/3 of 2023 could see a strong breakout of this flag's upward channel line.
Step 1 was to breach the downward trend line
Step 2. will be to do so convincingly
Note we do not expect a hard confident break of the downward trend line this month or jan-Mar.
I suspect...
IMO any deviation from this channel invalidates the run-up to $3. It's possible we could see pullback @ fib levels established off the last run-up to $1.80. However, I don't believe that will happen. Heres to watching little ALGO become a legend folks. Currently I don't have an exit point on this. I am a believer in ALGO and will HODL until I need the $$$$. Trade...
Looks like ole Algo is finally doing what it's meant to do in the last year. We needed to break the 1.80 ceilings, and Algo done busted that thing wide open and held it. I believe we will see a small pullback and then a run-up to 3 bucks before the end of the week. My projection is a test of the previous 3.33 level. I expect Algo won't be seeing >1.10 again for a...
here she goes. Vet looking to retest lower established support. All hourlys look good. Also, it seems to have broken away from following BTC for the time being. We'll see what the future holds for little VET.
