Doordash appears breaking out of it's ascending cylinder after bottoming in 2022 and accumulating for the better part of 2023. If they have good earnings outcome and can get past the 130-135 zone, it has room to run. If they shit the bed with their earnings, can't imagine this holds the breakout. Regardless, leading up to their reporting, this is one of the...
Publishing the SPX and BTC price action side by side to look back at when it is all said and done. Interested to see how this plays out. Let's see how SPX behaves when it reaches 5100.
Looking at Blackstone - recovered from it's drop in 2023 and showing strength going into the 3d pivot. This reminds me of the SPX chart before it ran to ath. With earnings behind it, if can go through 132-135 range and hold it, that it goes to ath. Otherwise, look for the 118-120 range for some consolidation.
AFRM, moving like a crypto chart after it's last major sell off last year. After bottoming and accumulating throughout 2023, it went through a ramp up in Q4 '23 and started 2024 with a retest and is now moving back up. Similar to SQ, if this doesn't shit the bed in their earnings report, this has room to run to fill gaps through 60. Let's see how this plays out.
Tracking Block Inc., this has been consolidating in the same range over the last few months and looks to be forming a reversal inverse head and shoulders. Barring any major market shocks, I can see this jumping to the 75-80 range in the next few weeks - as long as they don't shit the bed with their earnings.
USO, looking to be forming a double bottom within a double bottom off a long-term trend line. Personally looking for its reaction in the 72-73 range before any further assumptions, but if this gathers steam, I could see this reaching 76. This is important for the overall inflation narrative, with energy being such a large component of the CPI.
GRPN went on an incredible run to close out 2023. It's filled the October '23 gap. But, that's 3 times it's gone at the same zone and failed to go through it. All this while forming a nasty negative divergence on the RSI. If this can hold $12 convincingly, i expect this to revisit sub-$10 come Q2. In my opinion, this is bearish until it can claim $14.25 and hold it.
BXMT looks ready for another leg down. After a down-only 2022, a bit of a recovery in the first half of 2023, then sideways for the last 6 months -- this finally looks topped. Personally expecting sub-$20 soon, before it catches a bid and finally going sub-$19 to the next volume cluster. We'll see how it goes.
Looking at EBAY continuing to show weakness throughout the last year after it topped in Q3 2021. Barring some crazy event for the company in the next few weeks, I am expecting it to go sub-$40, into the red zone that has acted as reliable support since it "bottomed" on October 2022. Until it can break above the upper red $43-45 zone, this remains bearish to me.
Starbux has been underperforming over the last few months. After topping in March of last year, it has been dragging along it's short-term averages. Currently revisiting its Q3-Q4 2022 break out area that it successfully retested in Sept '23. If thiat 89-92 zone doesn't hold, I could see this revisiting the long-term trend line in the low 80's. Should be interesting.
XPO looks like it is short-term topping around here. I am expecting it to revisit the 75-80 zone before we can see where it goes next. Unfortunately, fundamentals aren't on its side considering a cooling outlook.
XLE has been trading in this range for the better part of the last 2 year. The way I see it, the 82-85 price range determines how this moves through 2024. Once it trades side way in the zone for a bit, the way the price breaks will determine the next move. If it goes up, I'd expect something similar to the highlighted Q4 2024 -Q1 2023 price action. Breaks...
Publishing the daily chart of the SVXY to track the movement over the next few weeks. As mentioned before this is a short-term, short-VIX etf. This has been one of the more profitable longs over the last few months as the vix has gone to its lowest points of 2023. In my opinion where the short-vix products go, the markets follow. Not picking which way it...
LDO inverse head and shoulders, breakout, retest. Needs to get past the 2.60-2.70 mark before it can run as long as no crazy moves from bitcoin and the DXY remains weak.
Publishing the WOO chart before this starts to really move. It has all the fundamentals, the structure and the momentum. This one has the potential to be a mover this alt szn if it continues this way.
Publishing this CVNA chart, as it's been an interesting one to follow. Above all the moving averages and looking to be retesting previous resistance. Interested to see how this plays out considering the new, high interest rate environment and the current state of car sales. From it's 3.60 low to now it's gone through a 10x rise, let's see how it opens 2024.
Publishing the Exxon 3d chart to track this as it heads to an important volume zone. The entirety of the oil sector has been weak over the last few months and this is likely a guide on the overall market. If this cannot bounce in the next -3-5% zone (highlighted), I can see this heading towards the 80-90 range in the next few months. Previous USO idea: ...
Publishing the RNDR chart to keep an eye on it over the next few months. If this crypto rally has some legs, there is a high likelihood RNDR ends up making some major moves as well. Previous RNDR idea, The price action for RNDR has been consistent.