Stockstradamus_

Stockstradamus_

Recap: SPY is currently in a corrective wave using price action on the higher timeframe. Corrective waves are completed after 3 legs (A, B, and C) … Each wave has 5, 3, and 5 legs per wave respectively. A (5 legs), B (3 legs), and C (3 legs). There are other specifics but I will not go into detail. For now we are operating within wave A, soon to be wave B which...

Stockstradamus_ Updated 

CL1! (Crude Oil) is forming a large head and shoulders pattern on 1hour chart. It is current retesting a previous support and holding at a demand area. A clean break below demand, below 84.85 would signal a price continuation down. For now, Jeanius is giving two buy signals which could be the beginning of another deep retracement upward. If we could get a strong...

Stockstradamus_

On SPY’s 3M chart, SPY has closed Q1 with a large bullish candle. The current closing 3M candle is accompanied by falling volume. It is also touching the upper Bollinger band, in confluence with a 3rd touch of an uptrend resistance zone. Note that the RSI is also overbought again with a bearish divergence. Heading into Q2, there's been some shaky economic...

Stockstradamus_

Watching BA at this major support level near 173.97 and 180.98 within this large expanding wedge. It's currently holding a lesser support level at 177.46 and 179.32. The current weekly candle has printed a bullish pinbar so far with 3 more days left on the week. I will be watching price action over the next week or so to confirm a shift from the current...

Stockstradamus_

On the Daily TF, Price Action on SPX is holding a strong uptrend on within a large ascending channel (bearish pattern). The current daily candle is an indecision candle which is being printed at the resistance area of the channel, accompanied by a Larkuidity Sweep signal via the Jeanius Algo. Note: There is an imbalance between 5088.79 and 5038.70. There is also...

Stockstradamus_ Updated 

DG (DOLLAR GENERAL) PRICE RECAP: DG has been on a selling spree since reaching its all time highs at 262.21. Along the way down, DG’s price began to trade into a channel where it finally broken out of following a bounce from the major support at 102.07 - 106.00. This area hadn’t been reached since December 2018, completing a 61.8% price retracement....

Stockstradamus_ Updated 

Price Action Recap: IWM has been ranging between 162.68 and 202.01 since April 2021. That's over 2 year of sideways price movement. The question now is, could small caps finally break above this range with the FED looking to begin cutting rates mid to late 2024? Currently, IWM has gapped up right into the major range resistance and is showing yet another...

Stockstradamus_

Rationale: Following the previous earnings beat, WMT (Walmart) has sold off -12% from all time highs. It made its way down to a major support area at 152.70 - 153.67 which it broke below and then reclaimed after yesterday's FED meeting. It also bounced off of a long term uptrend line in confluence with the 60% fibonacci level. Additional confluences: - Rising...

Stockstradamus_

SPY closed below structure (support) after a very bullish candle that was formed above structure (not resistance again) on November 20th. Note today's daily candle closing back below structure is also an indecision doji that was formed inside the previous candle (inside bar candle pattern). Added confluences: -Price action (candles) care squeezing into a...

Stockstradamus_ Updated 

Recap: During the precious 3 days, AMD printed a bearish candle below structur, reclaimed back above structure, then proceeded to print 2 inside - inside (a candlestick pattern illustrating price consolidation on a lower timeframe). Ahead of earnings on Oct 31st, AMD has printed a bullish engulfing candle above the highs of the previous 3 candles and is...

Stockstradamus_

AMD on the 4 hour chart is creating a possible head and shoulders pattern at a demand/support zone (Blue zone). Additional confluences: - Falling wedge at a key support/demand zone - RSI bullish divergence (Illustrated by blue slanted lines.) - MACD histogram bullish divergence (Illustrated by blue slanted lines.) - 4H candles creating a double bottom at the...

Stockstradamus_

So I am planning to pivot to futures. This is what I am watching on the Micro E mini SP500. The weekly chart is showing a possible bounce from the overall trendline. Not only that, price is forming a falling wedge and a nicely lower wicked candle indicating that buyers may be stepping in at this intermediate support level (Blue zone). To add more confluence to...

Stockstradamus_

NVDA has broken below a very structural low creating a CHOCH at 440.66. On the 4H chart, NVDA has arrived at a demand zone between 418.46 and 413.12 while also arriving at a support of a seemingly falling wedge that is forming. This possible retracement area is also in confluence with an intermediate uptrend line (green) on the 4H chart and the daily 50EMA. The...

Stockstradamus_ Updated 

Healthcare - XLV Health Care: Companies involved in healthcare-related services, including pharmaceuticals, biotechnology, medical devices, hospitals, and health insurance. Economic Cycle Sensitivity: Health care companies tend to be less sensitive to economic cycles. The demand for health care products and services remains relatively stable, driven by factors...

Stockstradamus_ Updated 

PYPL has reclaimed a major support zone (66.39 - 67.39) on the daily chart. Watch for a hold here over the next week or so to confirm level is still strong. Wait for price action to confirm a continuation of bullish movement. Trade Idea: Gap Fill play. With a continuation upward, PYPL is set to fill the gap between 69.60 and 74.97. Be mindful of the support...

Stockstradamus_ Updated 

Square broke a key resistance with strong volume and a strong bull candle. This was following a previous longterm trend failure on the larger green uptrend line back in late June. Price eventually reclaimed the trend-line and continued upward. I am watching for a retest of the broken resistance turned support or some indicator that price holds above here before...

Stockstradamus_ Updated 

On Friday June 16th, BABA hit a daily supply area following a CHOCH on the daily as well as a breakout of a longterm down trend that began back on January 26th. BABA has since retraced into the fib golden zone (50%-61.8%). It is currently sitting on a support between 83.04 and 83.99. BABA’s price action on the daily also seems to be creating a smaller inverted...

Stockstradamus_ Updated 

XLC Overview - Communication Services: Companies engaged in the transmission of information, communication, and entertainment, including telecommunications, media, and entertainment companies. Economic Cycle Sensitivity: Communication services companies are relatively stable and less sensitive to economic cycles. However, their performance can be influenced...