Harry_Hood

Harry_Hood

Potential pattern forming. Bullish move will invalidate pattern. I am short to the neckline with a tight stop.

Harry_Hood

Right now is a great place to take a short position because the market doesn’t have to go very far to invalidate this theory. If we are in a corrective wave, then it looks like wave C is about to commence. Typically we get a small extension beyond the Wave A low, which puts my target at $445. As you can see, price is up against the second Fibonacci extension and...

Harry_Hood

If you pay attention to quarterly rotations - the timing of their occurrence, the breadth of selling and the actual rotation direction, read further. Quarterly rotations don’t always take place on the same time each quarter. Sometimes they strike early or late. This causes difficulty in determining when to take a position, which is why we build positions over...

Harry_Hood

With spending bill passed, market will continue to break out and find new highs. Break out will come back down to test the support then take off some more. I suspect price to find support at 1.618 so be prepared. Play the long, play the short, play it safe or sit on the sidelines. The choice is yours.

Harry_Hood

Get in on this short opportunity for $PTON on the final right shoulder. This could be a great ride down.

Harry_Hood Updated 

This is a great opportunity. $ETSY looked like a buy this morning and it raged! I was so happy. My account so happy. But when I zoomed out I noticed something troubling... We just completed a bull cycle and now commenced a bear cycle. I happened to time corrective minuette wave b at the perfect time. The good news is that I now know to sell, by puts targeting $80...

Harry_Hood

$GOOS is in it’s Cycle Wave III. It just completed Primary Wave 3, which means we have a corrective wave 4 over the next few weeks. This could be a good time to accumulate and there may not be dramatic change in price. You will want to have a nice position for when Primary Wave 5 begins. My ultimate price target is $36 by end of year. Buy zone should be $28 -...

Harry_Hood

This looks like an amazing opportunity as there is little downside risk here. Go long and set your stops below $72. I will have to update my targets as the Elliot Waves unfold but it looks like we potentially started Primary Wave 1 of Cycle Wave III. First price target is $85-87, which we will see the end of wave 1 and have a correction. Price ran up very...

Harry_Hood Updated 

From a broad perspective, $TSLA has just completed its corrective abc pattern wave 2 from it's initial wave 1 impulse drop. At the end of the trading day Friday 9/18 the market is looking like a sell-off. If Tesla follows suit with a gap down on Monday, we could be in the Cycle wave three and expect another impulse wave down below the initial wave 1. I am...

Harry_Hood

SPX sold off in a perfect impulse wave overnight Wednesday. On Thursday, SPX completed a flat wave 2 correction. Pretty textbook. Friday and Monday should extend lower via wave 3. Hard to say target but probably around 3200. Good Luck.

Harry_Hood Updated 

Equally weighted S&P 500 (RSP) and IWM had the smallest decline Thursday and Friday compared to other indices. This could signify that the sell-off was mostly over valued tech stocks and not a broader market sell off. Compare this to the price action in June, where RSP and IWM fell significantly, indicating a broad sell off of the S&P 500. Using this chart, I...

Harry_Hood

There is a big bullflag here and just last week the stock bounced off the fib level indicating strong support. However, it looks like it could also roll over soon. Looking back at how this stock cycles quarterly, a drop would continue this trend. I am waiting for confirmation of falling out of the flag formation before shorting. This could easily continue upward...

Harry_Hood

$SHAK is about to hit two levels of resistance - Fib and trend line. I expect it to get rejected around $70 and find support at $60 or even the .5 fib.

Harry_Hood

At close on Friday I opened a short position based off Elliot wave count and RSI. at the least this will pull back to $200 but if there is overall selling in the market could make a new low around $160.

Harry_Hood

If it falls below here, I am short but it looks like it may be consolidating a new support line. Looks bullish right now but that can change quick.

Harry_Hood

Long term support will hold around $200 but once that breaks this bearish trend will continue. Target 200, 160.

Harry_Hood

I know PG is a solid company but the rise in stock price is wild. Thinking about a short if the market turns. This chart reflect some the SP500 price action.

Harry_Hood

If you look at the detail, the stock hit resistance and is testing it again. If it fails I will open a short with a tight stop loss. The company has pretty good financials but is still over valued. The recent run up can easily come back down, similar to mid year the 2019.