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Bearflags

PPI Data, Rate Hikes, QQQ / SPX Support and Resistance- CPI data came in expected today, excpet core is 0.1% hotter market didn't really care since we need something really hot to not get a 0.25bps - PPI data likely will come in expected as well today, since CPI was pretty aligned so technical matter more now - SPX came close to 200 MA today rejected the 3940 area but QQQ is above 200 MA - QQQ and SPX reject resistance at the same time - QQQ broke 294.5 support (yesterdays triple top resistance) in the afternoon and bears didn't follow through bulls V shaped into close - KRE and XLF both still in daily bear flag territory. KEY QQQ & SPX BOTH is still under resistance even though we V shaped we closed right under it, so still in the chop range, I am neutral now yesterday i was bull lean and played the bull move this morning as i mentioned when we broke the triple top resistance at 294.5 QQQ I am going long. Now at this range its anyone's game since there are both bear thesis and bull thesis that are both correct at these levels. currently all cash took profit this morning likely scalping depending on which side we break tomorrow.
NASDAQ:QQQ
by ArcadiaTrading
2
What if Citron is right?Current market cap = 14.889b FY 22 sales = $2.57b Price to Sales ratio = 5.80 Etsy has been accused by citron research of selling counterfeit products look at the below tweet for their reasoning twitter.com Now here are the 3 big questions to be answered 1. Will ETSY face legal problems in removing all counterfeit products? 2. What % of their 2.57b revenue comes from that products? 3. How much will they have to cut on their ads spend once they deal with this potential problem? how will that affect their sales numbers in the future? I don't think Mr market likes companies in that kind of legal trouble! $12 market price = $1.48b market cap ;) P/S = 0.5-1 ??? My gain is your loss ;) it's a zero-sum game after all. Do your own research! Look first / Then Leap
NASDAQ:ETSYShort
by Philoslother
1
🚩 Bull Flags VS Bear Flags🚩What is a Flag Pattern? A flag pattern is a commonly observed technical analysis pattern used to identify potential continuation of current market trends. It is characterized by a period of consolidation, where the market experiences a relatively small range of movement, following a significant price movement. This pattern is formed as the market returns to a state of equilibrium, following a large move. The flag pattern is considered a continuation pattern, as it often indicates that the market will continue to move in the same direction as the preceding trend, once the flag breaks out. This breakout typically occurs when the price of the security breaches the upper or lower boundary of the flag, and it is usually accompanied by an increase in trading volume. 📈📉The difference between a Bull flag VS Bear flag The difference between a bullish and a bearish flag is in the direction of the price movement. With the bullish flag, the idea is to participate in a strong uptrend. Meanwhile, with the bearish flag pattern, the idea is to trade short in the direction of the prevailing downtrend. - Downtrend vs uptrend: Bull flag and bear flag are both continuation patterns that form when the price of a stock or asset pulls back from the predominant trend in a parallel channel. - Bull flag: A bull flag is a sharp, strong volume rally of an asset or stock that portrays a positive development. - Bear flag: A bear flag is a sharp volume decline on a negative development. - Bull flag and bear flag share the same traits: Traits of Flag Patterns include support and resistant levels, flag, flag pole, breakout points and price projections. 📍Entry opportunities The most important component of any flag pattern trade is the entry. It’s generally advisable to wait for a candle to close beyond the breakout point before creating any orders to avoid being burned by a false signal. In the example above, the entries are made on a High risk - High reward mindset with stop loss bellow the flag pattern. Most traders will enter a flag pattern trade on the day after the price has broken beyond the trend line. The length of the flag pole is typically used to calculate the profit target. Even when the formation of a flag pattern is obvious, there is no guarantee that the price will move in the expected direction. As with most technical analysis, you will get the best results from flag patterns by applying them to longer-term charts as you will have more time to consider your strategy and analyze the price action. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work , Please like, comment and follow ❤️
Education
by QuantVue
3
Who is going to win this one bears or bulls?What we are looking at here is the SPY on the Daily TF (on the Left) and the 10 Min TF (on the Right). Notice that the blue arrows show that we are in a mature bear flag and it is about ready to trigger more downside action. And, you will see that the chart on the Right with the green arrows is a nice mature bull flag. How high do you think the SPY will go before ultimately flushing to the yellow target support line? Let me know in the comments. Cheers.
AMEX:SPYShort
by GarethSolowayOfficial
11
NIO: Be careful with this BEARISH FLAG!• NIO is trading around the support level of a Bearish Flag chart pattern; • Yesterday, it tried to trigger the pattern, but in the end, it did a bullish reaction and it stabilized around the trend line; • If NIO triggers this flag, the bear trend will resume and the technical target of this pattern is around $5; • In order to avoid this bearish scenario, NIO has to react as soon as possible, and stays inside the Bearish Flag again. This would indicate another bounce, possibly to the $14 again; • Either way, we’ll have our answer soon. I’ll keep you updated. Remember to follow me to keep in touch with my daily analyses!
NYSE:NIO
by Nathan_The_Finance_Hydra