Hope you followed our trade on $TSLA as it pushed above 742 for a 12 points move. Trim some here and see how it reacts to the next resistance levels 755 and 764.
Bitcoin is looking very vulnerable as it continues to trade below 48500. From a technical perspective the longer it stays below that level the higher the probability we see a continuation to the downside below 43K. This is the line in the sand between active bulls and bears. Yesterday's news of Litecoin's partnership with Walmart proved to be a hoax and the...
$MSFT has been in a continued downtrend for the past few sessions. Yesterday amid the market selloff it managed to post a reversal as it reclaimed Friday's lows. It is looking set for higher prices if the CPI numbers come in or below expectations. You can be long with a tight stop at 294. For better action it needs to reclaim 298-299 to exit this recent downtrend.
Watch how the market treats $AAPL's Iphone launch today. Usually this is a sell-the-news events once the actual presentation ends. It might offer a good entry point for a swing trade. See if yesterday's double bottom around 148.75 holds. For better action in needs to reclaim 151.7
The overall market is at an inflection point. Yesterday it dropped below Friday's low as the bears continued to be in control and managed to push prices lower after the initial gap up. For today, the CPI numbers will be in focus. In case of a hot reading above the 0.4% increase month over month, expect more selling pressure. A goldilocks report might offer some...
AMD dipped below Friday’s low but managed to show relative strength at the close. It has been in a long downtrend as it approached its 50EMA. We are long the stock overnight for a possible Turnaround Tuesday. A lot will depend on the CPI numbers tomorrow.
$BTC continues to build a bear flag beneath 48500. The longer it stays below this level the higher the probability we see a break below 44100 and 42900 which would confirm the formation of an ‘H’ type pattern post El Salvador temporary double top
The overall market has turned lower on Friday afternoon as investors booked summer profits. We are currently below the momentum moving averages and the next big support area is the 50EMA. See how the CPI and Retail sales numbers this week influence the complexion of the tape.
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