Finished with a bearish engulfing on the daily chart.. Spy is 5/5 on a follow up lower low on bear engulfing patterns..
Tomorrow, if we break 406 that would be a break in our uptrend since 380 low.
If that were to happen we would probably keep selling until 401.50 then dead cat bounce to retest before finishing the leg down.
Do we have to dead cat bounce at 401? No but that usually happens when the indicators go oversold on the hourly.
Same double top played out in Feb
The NYSE or NYA
Rejected at prior support
And the same with dow
So I don't see any help coming from cyclicals.
I'll be looking for QQQ to test 300 or trendline support
Similar double top as the spy.
Below 312.70 and we head straight to 307 gap close.
The biggest sector on the spy Is XLK
There's a bear flag playing out there, first target will be 144 gap close... I like to keep my eye on this sector because the market tends to go wherever this does, so I'll be watching 144
Besides Dow jones transportation The chip sector SMH looks the most bearish seriously
SMH was already trading inside a rising wedge
But now there's a Head and shoulder fully formed inside of it
I know longer think we'll get 415 gap close anytime soon. I think 395 gap close is a higher probability
Tomorrow, if we break 406 that would be a break in our uptrend since 380 low.
If that were to happen we would probably keep selling until 401.50 then dead cat bounce to retest before finishing the leg down.
Do we have to dead cat bounce at 401? No but that usually happens when the indicators go oversold on the hourly.
Same double top played out in Feb
The NYSE or NYA
And the same with dow
So I don't see any help coming from cyclicals.
I'll be looking for QQQ to test 300 or trendline support
Similar double top as the spy.
Below 312.70 and we head straight to 307 gap close.
The biggest sector on the spy Is XLK
There's a bear flag playing out there, first target will be 144 gap close... I like to keep my eye on this sector because the market tends to go wherever this does, so I'll be watching 144
Besides Dow jones transportation The chip sector SMH looks the most bearish seriously
SMH was already trading inside a rising wedge
I know longer think we'll get 415 gap close anytime soon. I think 395 gap close is a higher probability
Komentarz:
Stopped out on aapl..
Could've held for a lil longer.. but I like to stick to my stops.
Nq at the top of its range..
If it gets rejected we'll give all this back tomorrow..
If it breaks out then spy and QQQ are headed higher then yesterday's highs
Could've held for a lil longer.. but I like to stick to my stops.
Nq at the top of its range..
If it gets rejected we'll give all this back tomorrow..
If it breaks out then spy and QQQ are headed higher then yesterday's highs
Komentarz:
317.50 is the wall on QQQ
Komentarz:
DXY way oversold... due for a major bounce here .
Hourly RSI is having a meeting in the shadow realm...
Hourly RSI is having a meeting in the shadow realm...
Komentarz:
Here's QQQ daily..
Range trade all week.
313-318
FAWKERY stopped me out of apple and pulled right back
XLK pushed right back to resistance
And here's the spy 1hour chart
So you can see that everything this is at the top of its range again.
Now if we've been consolidating I would expect a breakout tomorrow.
If this is just distribution then we sell again back to bottom of the range
Range trade all week.
313-318
FAWKERY stopped me out of apple and pulled right back
XLK pushed right back to resistance
And here's the spy 1hour chart
So you can see that everything this is at the top of its range again.
Now if we've been consolidating I would expect a breakout tomorrow.
If this is just distribution then we sell again back to bottom of the range
Komentarz:
Added 282.50p
4/21
Here on MSFT
290 stop
Feels like a algo pump for the day...
4/21
Here on MSFT
290 stop
Feels like a algo pump for the day...
Komentarz:
Nq hit target 13,150..
If they are going to reverse it , we should see a pullback at this level .
Qqq 318.. both levels connected
If they are going to reverse it , we should see a pullback at this level .
Qqq 318.. both levels connected
Komentarz:
Qqq hasn't broken 318.. but spy is rising on the dow..
Dow is pushed right up to resistance at 33,900.
The dow is sensitive to Financials or XLF..
Bank earnings start tomorrow
Now everything is at the top...
We either see a epic rug pull tomorrow or a breakout..
P.S Vix is still having a meeting with Hades
Dow is pushed right up to resistance at 33,900.
The dow is sensitive to Financials or XLF..
Bank earnings start tomorrow
Now everything is at the top...
We either see a epic rug pull tomorrow or a breakout..
P.S Vix is still having a meeting with Hades
Komentarz:
Squeezed....
NQ
13,240
They probably get there 414 gap filled today on spy..
Took 3 trades today
Apple puts
Msft
Meta puts
Meta turned green for me +20% .. didn't take it at 217..
I'm still holding Msft and meta.
NQ is just too overbought right now.
Did you see the spy hourly candle squeezed outside its b bands?
Volume isn't there today but it's not needed with algos and squeezes.
Looking back , at my trades today I don't know why I went short on Tech when QQQ obviously held 313??...
We'll see what tomorrow brings.
Above 318 I would say QQQ wants 323 gap close .
.
Only 1% more to go
NQ
They probably get there 414 gap filled today on spy..
Took 3 trades today
Apple puts
Msft
Meta puts
Meta turned green for me +20% .. didn't take it at 217..
I'm still holding Msft and meta.
NQ is just too overbought right now.
Did you see the spy hourly candle squeezed outside its b bands?
Volume isn't there today but it's not needed with algos and squeezes.
Looking back , at my trades today I don't know why I went short on Tech when QQQ obviously held 313??...
We'll see what tomorrow brings.
Above 318 I would say QQQ wants 323 gap close .
.
Only 1% more to go
Komentarz:
Spy 1 hour chart
Went back to find support here for any pullback area
Going into tomorrow Spy has room for the 415 gap close.
If there's a gap down, white trendline will be support around 408-409
Went back to find support here for any pullback area
Going into tomorrow Spy has room for the 415 gap close.
If there's a gap down, white trendline will be support around 408-409
Komentarz:
Taking this opportunity to get out of Msft
Short position this morning .
I'm not taking any pullback seriously on tech unless QQQ breaks back below 315.50..
Just look at NVDA sitting on top of its 21ema at 263.00..
I like BAC calls over 29.. they have a gap to close at 30.30
Dxy is oversold they'll switch up and short GLD back to 186.50.
Spy nearest support is 411.90 or 412..
I don't see banks giving back there gains so unless tech sells hard , spy won't break 412 and will most likely close gap at 414 and 415.
Short position this morning .
I'm not taking any pullback seriously on tech unless QQQ breaks back below 315.50..
Just look at NVDA sitting on top of its 21ema at 263.00..
I like BAC calls over 29.. they have a gap to close at 30.30
Dxy is oversold they'll switch up and short GLD back to 186.50.
Spy nearest support is 411.90 or 412..
I don't see banks giving back there gains so unless tech sells hard , spy won't break 412 and will most likely close gap at 414 and 415.
Komentarz:
Took 2 trades
Qqq 320c
4/20.
316. Stop
BAC 30c
4/14
Lotto
Qqq 320c
4/20.
316. Stop
BAC 30c
4/14
Lotto
Komentarz:
Covered on BAC 4/14.
120%
Bought back in 31c
4/21
15% trailing stop on QQQ
Why ? Because NQ is approaching this resistance it couldn't get across before
If qqq breaks over 323 is coming
120%
Bought back in 31c
4/21
15% trailing stop on QQQ
Why ? Because NQ is approaching this resistance it couldn't get across before
Komentarz:
Watch spy here for a rejcection..
Tighten your stops
Tighten your stops
Komentarz:
Covered on Qqq..
NQ AT RESISTANCE + Spy approaching resistance = Take profit and chill
NQ AT RESISTANCE + Spy approaching resistance = Take profit and chill
Komentarz:
Watch apple at 166.. extreme resistance.. can't break across. If it reverse market will pull back
Komentarz:
320 is tough..
Notice how tesla extreme has resistance at 186
Apple at 166..
They can't push across it
When you see stuff like that, you have to tighten your stops even if you are not trading those 2 specifically
Notice how tesla extreme has resistance at 186
Apple at 166..
They can't push across it
When you see stuff like that, you have to tighten your stops even if you are not trading those 2 specifically
Komentarz:
Covered on BAC..
Didn't drop below 29 and I have time until next week but I don't like what I'm seeing on the dow
It's sitting on top of the prior blue resistance but can't break above yellow
Didn't drop below 29 and I have time until next week but I don't like what I'm seeing on the dow
It's sitting on top of the prior blue resistance but can't break above yellow
Komentarz:
I'm gone for the day guys...
They can keep the change.. I'll be back last hour to see how we finish
They can keep the change.. I'll be back last hour to see how we finish
Komentarz:
Keep your eye on XME sector..
It's flirting with a H&S pattern
If it breaks the support on the right shoulder trendline here you're
Going to see sell off on metal stocks
One of my favorite stocks to trade is X or United steel. You can see the same H&S on it as XME..
Looks like it's forming that right shoulder too just like XME
Could be a huge short setup
If it breaks the support on the right shoulder trendline here you're
Going to see sell off on metal stocks
One of my favorite stocks to trade is X or United steel. You can see the same H&S on it as XME..
Looks like it's forming that right shoulder too just like XME
Could be a huge short setup
Komentarz:
Dollar headed higher..
Gold lower.
They bought up Dxy right 2023 lows.
4hour rsi was 20.. you would thought it was pesos
Gold lower.
They bought up Dxy right 2023 lows.
4hour rsi was 20.. you would thought it was pesos
Komentarz:
Here's QQQ 30min chart..
Looks like it's headed for a retest of white trendline or 316..
It could either bounce there or fall through and head back to 313
Looks like it's headed for a retest of white trendline or 316..
It could either bounce there or fall through and head back to 313
Komentarz:
Here's IXIC nasdaq
Identical to Feb top price action.
Permabulls will say it's a bullflag but like I sad before, you don't normally see flags form when macd goes bearish.
Still needs to break and close below 11,900 for me to say it's completely bearish but it reeks of top distribution
You notice we reached an identical top as Feb while qqq made a higher high since Feb? That's because only the top 5 names on Tech have been pushing while the rest of nasdaq lags
Identical to Feb top price action.
Permabulls will say it's a bullflag but like I sad before, you don't normally see flags form when macd goes bearish.
Still needs to break and close below 11,900 for me to say it's completely bearish but it reeks of top distribution
You notice we reached an identical top as Feb while qqq made a higher high since Feb? That's because only the top 5 names on Tech have been pushing while the rest of nasdaq lags
Komentarz:
Look at that bounce on QQQ at trendline..
Wait for a drop below 315.20 before shorting this market again
Dow also near 33,700 purple support
And through it all NVDA ,meta and googl unfazed
Wait for a drop below 315.20 before shorting this market again
Dow also near 33,700 purple support
And through it all NVDA ,meta and googl unfazed
Komentarz:
Fawkery...
Vix still selling
1,2, and 3hour cci going oversold
1 hour rsi over
Wedge forming that should get us back to 20
I'm not seeing any economic news on the calender Monday that could help this pop so we just being going off technical ..
Spy finishing in a tight area
If you combine the white and yellow trendline supports you'll get 407.50 -409
It's only game over if we close beneath that.. same for qqq with 313..
Until than you just have to play the range.
I still think these SOB close that gap on qqq at 323 forreal. That would push spy back up to 418.. but let's see what happens
Vix still selling
1,2, and 3hour cci going oversold
1 hour rsi over
Wedge forming that should get us back to 20
I'm not seeing any economic news on the calender Monday that could help this pop so we just being going off technical ..
Spy finishing in a tight area
If you combine the white and yellow trendline supports you'll get 407.50 -409
Until than you just have to play the range.
I still think these SOB close that gap on qqq at 323 forreal. That would push spy back up to 418.. but let's see what happens
Komentarz:
Daily Candle finished with a indecisive spinning top and that's what I'm feeling going into the weekend..
The bear case
1. Dxy over sold, weekly candle on lower Bollinger band and Bullish engulfing daily Candle.
2. Vix oversold on hourly plus a bullish falling wedge on the hourly
3. Daily double bottom on 10yr chart
Bullcase
T-E-C-H
Lol..
Seriously
I told you premarket to watch NVDA and how they wouldn't let it drop below it's 21ema and even when nasdaq dropped 100 points they still propped it up
Meta is determined to close gap at 230 before earnings.
Googl wants to close gap at 110 for sure and maybe the gap at 120 by earnings .
Which leads me to believe QQQ may hit 323 next week
XLF banks look great! Jpm ,Citi and BAC specifically.
XLV is overbought still but not bearish..
With that being said, I'm in cash. I don't see a 80% setup here to swing.
Boeing looks crappy but the downside gap at 197 not worth it
Will post of what else I see in a new post this weekend
The bear case
1. Dxy over sold, weekly candle on lower Bollinger band and Bullish engulfing daily Candle.
2. Vix oversold on hourly plus a bullish falling wedge on the hourly
3. Daily double bottom on 10yr chart
Bullcase
T-E-C-H
Lol..
Seriously
I told you premarket to watch NVDA and how they wouldn't let it drop below it's 21ema and even when nasdaq dropped 100 points they still propped it up
Meta is determined to close gap at 230 before earnings.
Googl wants to close gap at 110 for sure and maybe the gap at 120 by earnings .
Which leads me to believe QQQ may hit 323 next week
XLF banks look great! Jpm ,Citi and BAC specifically.
XLV is overbought still but not bearish..
With that being said, I'm in cash. I don't see a 80% setup here to swing.
Boeing looks crappy but the downside gap at 197 not worth it
Will post of what else I see in a new post this weekend
Fake pop should fizzle...
I'm in aapl
160p
4/21
163.50 stop loss