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Stocks Rally for Fourth Day StraightStocks have rallied for the fourth day in a row. They have gained strength off earnings and the potential of the Fed keeping interest rates unchanged. We are seeing some resistance at all time highs as identified by two red triangles on the KRI. The next target is 4632, but we are likely to see a pullback first. The Kovach OBV is still very strong, but at this point we are looking very over bought. The levels 4580, 4564, and 4545 may all be levels to consider buying back on a possible dip. A healthy correction could take us to 4521.
FX:SPX500Long
by quantguy
Biocon - At good support zoneHi Traders, As you can see from the above chart, currently BIOCON at good support zone at Rs.347/-, if the tomorrow price took the support at same level you can take the buy trade. You can take the trade after formation of 1 hour candle in the upward direction. You can take the trade at CMP and SL is based on your risk appetite and target is Rs.400 to 420/-. But if the support zone fails to provide the support to price and broke in the downward direction then you can take the short trade ( 1 hour candle should close below the support zone) to take the trade. Based on the price movement you need to assess and take the trade. I will also update about the trade you can check in the trading view under my ID. This analysis is for short term trade and not for Intraday. Note : This is not a financial advice and trade at your own risk. Thank you. Enjoy the trading.
NSE:BIOCONLong
by Sriramulu-Bonagiri
Stocks Climb Despite Hawkish Fed and Tech EarningsPoor tech earnings (especially from Intel) and Hawkish comments from Fed's Bostic were not enough to faze stocks. The S&P is still gunning for highs. It has leveled off at 4550. Our next target is at 4564, which could be within reach if we see another move higher. We are looking a bit overweight at the moment, and a technical correction is due. If so, watch for support at 4521 and 4504. The Kovach OBV is extremely strong, so there is no denying the bull trend.
FX:SPX500Long
by quantguy
Stocks Still Strong!!Stocks have pressed higher, but are currently rounding off. We tested 4545, the level we mentioned yesterday, but were unable to break through at the moment. A red triangle on the KRI denotes the resistance. We have since consolidated in a very narrow range between this level and 4521. We are getting strong support here, confirmed by three green triangles on the KRI. The Kovach OBV is still strong, but with this strong rally comes the risk of a technical retracement. If so, we should have further support at 4487 or 4462. If we see another breakout, 4564 is the next level, then we can consider new highs.
FX:SPX500Long
by quantguy
Stocks Rise Ahead of Key EarningsStocks have risen higher despite tapering and inflation worries. We have risen past the 4400 handle and have broken into the 4500 handle, but just barely. We have some key earnings today, so keep an eye on the news to determine if this rally will continue. We are starting to see some red triangles on the KRI suggesting that stocks may be facing some resistance. If so, watch for 4462 then 4400 to provide support. From above, 4521 is the next target. The Kovach OBV is pretty strong, suggesting stocks have returned to bull mode, if but for the moment.
FX:SPX500Long
by quantguy
Stocks Rally but Can they Sustain??Stocks have rallied to the mid 4400's, despite persistent inflation fears and a more hawkish stance from the Fed. We have topped off at around 4462. We came just a few ticks before the next level at 4487, before retracing. Currently, we are holding just above 4440. Two green triangles on the KRI suggest support here. The risk sentiment in the markets is mixed, and neutral at best, so it is likely that stocks will range today, assuming we do not see something change toward the open. The S&P is looking a bit top heavy, so there is more downside risk. If we retrace further, there is a cluster of levels below to provide support but 4408 seems likely to hold as a min lower bound for now.
FX:SPX500
by quantguy
$COIN Coinbase Support holdingAfter the IPO this one seems to have sold off and looks like it has now established an uptrend with defined support. Some risks involved in possible market regulation kept some investors at bay, but news yesterday from the Securities and Exchange Commission could bode well for companies like Coinbase in the future. Added some yesterday below $260 as part of a longer term portfolio. Last set of financial results looked very good with huge profit margins. "The Securities and Exchange Commission is poised to allow the first U.S. Bitcoin futures exchange-traded fund to begin trading in a watershed moment for the cryptocurrency industry, according to people familiar with the matter." -Bloomberg
NASDAQ:COINLong
by KoosKanmar
1
Stocks Drift UpwardsThe S&P 500 has drifted upwards, and is currently testing 4389. At the time of this writing it has barely broken through, hovering in the 4390's. The next target will be 4408. If we can muster the strength to hit that, then 4440 is the next target, a relative high before a vacuum zone to 4462, but we have several levels before 4440, so watch for some resistance before that, unless we get some serious momentum at open. If not, we could retrace back to 4327. The Kovach OBV has started to inch upwards, but the momentum appears weak, so the risk is more to the downside.
FX:SPX500
by quantguy
Stocks Slide, But Potential Breakout NearThe S&P 500 has slipped back below 4364, as anticipated in the last report. We found support at 4327, roughly the middle of the range stocks were holding between 4327 and 4364. Currently, we are testing the upper bound of this range, but a red triangle on the KRI suggests that we are meeting some resistance. There is a clear bull bias from the Kovach OBV, so watch for a potential breakout at open, especially if the tone of the news remains risk on. If so, we have several levels of resistance above, but 4408 would be the next target
FX:SPX500Long
by quantguy
Stocks Try to Avert Third Straight Day of LossesStocks have started the week flaccid, but have found support at 4327. We got a bit of a lift to 4364, but are likely to hold the range until more inflation data comes out. We have a cluster of levels above which will likely prove to provide resistance, such as 4340, 4389, and 4408, particular relevant level. The Kovach OBV has actually picked up a bit, suggesting a bit of a bull divergence. However if we break down past 4327, we will have encroached upon the range between 4272 and 4327, a previous value area.
FX:SPX500
by quantguy
Stocks Price in Debt CeilingStocks have gotten a lift from the debt ceiling news, however we are facing steep resistance from a cluster of levels in the mid 4400 handle, 4431 in particular. We are seeing a red triangle at this level confirming the resistance. Currently we are seeing support at 4389, as confirmed by a green triangle on the KRI. The Kovach OBV is strong, but has leveled off completely showing little or no conviction before the opening. If we do see a burst of momentum, we must first break 4431, then there is a vacuum zone to 4462. If we break down, 4364 should provide resistance.
FX:SPX500Long
by quantguy
1
Debt Limit Hopes Lift StocksStocks caught a lift later in the trading day yesterday after struggling with 4327. Positive news sentiment off hopes of a debt ceiling agreement brought us back to the upper bound of the range at 4389. The Kovach OBV has picked up notably, but is flattening out suggesting we are facing some resistance here. In order to breakout, we will need sufficient momentum to break through. The next major level is 4408, the first technical level of the 4400 handle. If we fail to muster the momentum to break out, we will likely retrace to the bottom of the range again, at 4293 or 4272.
FX:SPX500Long
by quantguy