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Breakout in Stocks??Stocks are continuing to range. They have held the range between 4380 and 4431 for over a week. As we mentioned yesterday, the S&P 500 found support at the lower bound and has tended back to the upper bound, sitting just a few ticks below the upper bound at 4431. We will see today if stocks can finally muster the strength to break this level and acheive new highs again, or if they will continue to range. If we are able to break the range today, then 4462 is the next target. If we break down we will have further support from 4364 and 4350.
FX:SPX500Long
by quantguy
Stocks Continue to RangeStocks are continuing to range in their sideways corrective pattern. The S&P has been holding the range between 4380 and 4431 for over a week now. We rejected the upper bound yesterday, as we anticipated, which would have made for a nice mean reversion trade. Indeed, the S&P retraced the entire range, finding support at the lower bound. It is currently testing 4408, so watch for momentum at open to determine if we can test 4431 again. If so, the next target is 4462. If not, we should find support again at 4380, 4364, or 4350.
FX:SPX500
by quantguy
Amazon (AMZN) Analysis "Long-Term"Amazon NASDAQ:AMZN This profitable beast has been on fire for YEARS. Will the business be around in 5+ years? Absolutely. Amazon will continue to dominate. Shares took a hit after an earning disappointment (Don't let the COVID new cloud your thinking) and also they were also hit by a record $887M EU Privacy fine. The stock isn't going to "Tank" - as you can visually see, it's falling back into the range it's been in for the last 365 days. Shorting the stock would be a gamble (Long-term). Technically speaking there hasn't even been a lower high created - It's coming fresh off recent highs. It's range has been between: $3,000.00 and $3,600.00 (Some action happens around $3,400.00) The move here would be to play the range with a long-term mindset; which can be hedged with options. Seek buying opportunities while watching if that lower high forms. The $3,000.00 area line up with the 23%; which would be the next play. Further down there's major confluence on the 50% retracement ($2,600.00) with certain indicators lining up along with price action. A move that far down would be insane; but anything can happen. Strong buying areas are between: $2,800.00 - $3,000.00 (Previous Range) DCA Investment into the $2,600.00 Area (50.00% Retracement)
NASDAQ:AMZNLong
by UnknownUnicorn25387911
3
Stocks Trade SidewaysStocks rallied yesterday hitting our profit target to the tick before retracing back to the bottom of the range. The S&P seems to be in a sideways corrective pattern at the moment, finding good support at the bottom of the range at 4380. The Kovach OBV has dropped notably, so we will see at open if we have enough steam to hold the range. If so, expect a retracement at least to the mean at 4408 or so. Otherwise we will find support at 4364 and 4350. Our next profit target is 4462, which is garnered from the Fibonacci extension level of Fibonacci retracement levels anchored at the current range
FX:SPX500Long
by quantguy
1
Breakout for Stocks??The S&P 500 continues to range in a sideways corrective pattern. After its recovery from the dip and making new highs, this is a perfectly reasonable behavior and suggests that stocks may be gearing up for another breakout. We have held a very narrow range between 4389 and 4410. The more constrained the volatility in stocks, the more likely we are to see a breakout and today may be the day. Our next target is 4431. If we fail to breakout or continue the range, then 4380 or 4364 will provide support.
FX:SPX500Long
by quantguy
Stocks Due for a Breakout??After making new highs, stocks are trading sideways, which was our prediction from before. After recovering from renewed Coronavirus panic, the S&P had a V-shaped recovery and made all those losses back and then some, making new highs. It is reasonable for stocks to range or retrace after such a move. We should continue to see support from 4389 and 4380 but if not 4364 or 4350 should hold. Our next target is 4431. The Kovach OBV has dropped precipitously, suggesting that we will at least see more ranging at these levels before another burst of momentum.
FX:SPX500Long
by quantguy
1
Stocks Make New Highs!! What's Next??Stocks have broken out again to make new highs. We have fallen just short of our profit target of 4431. We have a cluster of red triangles on the KRI, indicating that the S&P is running into some resistance. We will see if it gets another burst of momentum at today's open or if we are due for a retracement. Such a retracement could take us back to support at 4389, or 4364. After making new highs it is reasonable for stocks to come up for air, unless we catch another bid at open. The Kovach OBV is strong but appears to be leveling off.
FX:SPX500Long
by quantguy
New Highs for Stocks!!Stocks have made new highs, finally reaching the target we set at 4408. We set this target before the sharp decline in stocks that followed renewed Coronavirus panic. However, the S&P made a V shaped recovery, and we have retraced this selloff and then some. We do appear to have returned confidently back to bull mode. We have established our next target at 4431. The Kovach OBV is strong, but has rounded off suggesting stocks may be coming up for air at the moment
FX:SPX500Long
by quantguy
ARK invest goodGreat opportunity here with ARK invest. Head n Shoulder now formed. The first wave of the daily EW was completed. Small retracement now to 142.55 giving a great buy opportunity with SL at 134.90. If you are a more conservative play on the resistance of the HnS neck. 189 the first target, looking to unlock some profit at that level, Final target 205, completing the 3 wave. This is a 9 RR, great play. Holding position 3- 4 months. I will share other opportunities soon...Few others are already at play. SHARE and spread the LOVE
AMEX:ARKWLong
by CFcryptoTA
Stocks Shrug off CoronavirusStocks have made an incredible V-shape recovery, completely shrugging off the entire meltdown we saw from renewed Coronavirus fears. We anticipated a comeback for stocks yesterday, but our targets were much more modest. We anticipated the S&P to test at least 4306, but it is now currently testing 4350. We are seeing a red triangle on the KRI suggesting we are meeting some resistance here, but after such a move this should be anticipated. We are nearing highs so stocks will likely range at current levels before considering a breakout. The Kovach OBV dipped to reflect the selloff but has gained considerable strength with the recovery.
FX:SPX500Long
by quantguy
2
Coronavirus Panic Smashes Stocks!! 😱📉Massive amounts of risk off sentiment poured into the markets which crushed stocks. We dipped as low as 4234, before a respite back to current levels in the upper 4200's. Currently we are sitting just below a resistance level at 4293. The Kovach OBV has turned sharply from its overwhelming bull trend to reflect the dump. We dumped almost two handles, from just below 4400 to the 4200's, so it is reasonable for stocks to come up for air and perhaps range at current levels. Another dump could take us back to lows or worse, there is a vacuum zone down to 4188 below. A recovery could take us back to 4327. It is likely after a few days at most that we will begin to make a full recovery. These bouts of panic don't last long and the Fed will likely make a statement to save the day if so
FX:SPX500
by quantguy
2
Gold bulls' revenge will be sweet (Update 2)Hi guys, The Delta Corona variant is stealing headlines around the world and equities got smashed down yesterday pretty hard. Crypto seems to be getting a beating too along the way and it is not looking pretty in the market. Gold is keeping up pretty well (unlike Silver which is hammered down just as everything else). Time for a follow up on my last chart. Last week we hit my first target of 1835 after the CPI numbers got released and dovish comments by Powell. The inflation is getting uncontrollable with the annualized montly figures hitting almost 11%. These are record breaking numbers we have not seen since the 1980's. With US10 yields also getting hammered down to below 1.2%, gold and the dollar seem to be the favorable instruments for traders and investors to put their money in. Current environment and dynamics are extremely bullish for gold. Gold bears retested bullish commitments at the important psychological 1800 price support and it got bought up quickly with the daily candle closing as a dragonfly doji 1810+. These are good signs for bullish continuation towards my second target of 1845. However, I expect we will remain rangebound 1800-1835 for some time until there is a catalyst or a 'black swan event' before we can break through and see much higher prices for gold. It is not the question 'if' we breakout, but 'when' we breakout. Risk events that are coming up: - ECB interest rate decision on Thursday - PMI day on Friday I remain bullish on gold, and buying dips remains my strategy. I will avoid selling gold before we see 1900-1920 at least (Target Zone 1). Love and hugs, Cesaro
OANDA:XAUUSDLong
by CesaroPelucci
2
Stocks Rounding Off!!Stocks have felt an infusion of risk off sentiment. The price action has rounded off, after peaking just a few ticks above 4389. We saw support at 4364, and 4350, exactly the levels we have identified. If needed, 4327 and 4306 will provide further support. Both the Kovach OBV and the Chande have picked up notably with the bounce we saw off 4350. But it could go either way depending on what the sentiment is this morning at open. We will face resistance from 4389. However, if the S&P can muster enough momentum to break that, our target remains 4408.
FX:SPX500
by quantguy
1
Stocks Consolidating!!Stocks are consolidating at highs around 4389. We do appear to be seeing a double top at this level. However we have strong support from current levels at 4364. This could be the consolidation of volatility preceding another breakout. If so, our next target is 4408. If we are wrong we have a few levels of support from below, separated by comparatively large vacuum zones. Watch 4350, 4327, and 4306 for support. The Kovach OBV is still pretty strong, but has started to taper.
FX:SPX500Long
by quantguy
Head and Shoulders in Stocks??Stocks have inched out highs at 4389, but have retraced slightly to support at 4364. We may be witnessing a head and shoulders pattern in formation, with a neckline at 4350. However, wait for the second shoulder to fully form before considering a retracement. We still have a great amount of bull momentum, as measured by the Kovach OBV which has only slightly dipped with the pullback. Our next target is 4408, which could easily be reached today if we catch a bid at open.
FX:SPX500
by quantguy
Stocks Ranging Near HighsThe S&P has squeezed out new highs at 4375, coming within a few points of our target of 4380. We are currently at 4354, just above one of our technical support levels of 4350 (once a profit target). The Kovach OBV was pretty strong but has tapered with this retracement. Thus it is likely for stocks to range a bit at current levels in a sideways correction before gearing up for a run at highs again. If not, 4380 is still our target and will provide resistance. From below, 4327 and 4306 will provide support
FX:SPX500Long
by quantguy
Stocks Find Support!!The S&P 500 has found good support at 4293. It barely broke into the 4200 handle before catching a nice burst of momentum that sent us rallying to near highs again. We were anticipating perhaps another bear wave taking us back to more auspicious levels at 4272 or 4245. This still could be the case, but as of now, it appears that a sideways correction is more likely. That is, stocks are set to range in the neighborhood of 4293 and highs at 4364, which we have identified as a new technical level. The Kovach OBV is still quite strong, stuttering only briefly with the selloff so this should be but a brief setback for stocks.
FX:SPX500Long
by quantguy
1
Correction in Stocks!!We are finally seeing our correction in stocks. The tiny retracement we saw on the 6th was paltry and we knew we should be seeing something more significant. The S&P fell to one of our support levels at 4298, but still could have more in the tank. We anticipate good support at 4272 or even 4245. This is a healthy correction for stocks, and we are still in 'bull mode'. The Kovach OBV is still very strong, dipping only slightly to reflect the correction. The Kovach Chande indicator is starting to round off, suggesting we may be bottoming out soon.
FX:SPX500
by quantguy