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Equity

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
Stocks Ranging at HighsStocks have achieved another highs and have hit our profit target of 4352 on Friday. They've ranged at that level due to the Holiday in the US for the Fourth of July weekend. We are clearly establishing value at current levels but we have a very narrow range suggesting we could break out soon. If stocks have enough momentum to continue the rally, our next target is 4380. If not, we have levels of support below at 4327 and 4306. We keep saying we are due for a healthy correction at possibly a 50% retracement of the channel at 4272 or so, but the trend is clearly bullish for now
FX:SPX500
by quantguy
Stocks Forming Bull ChannelStocks keep edging out new highs. Our 'rounding off' behavior appears to be shifting into more of a bull channel type pattern. When these break down it is common to see a 50% retracement. But the Kovach OBV is still solidly bullish confirming the trend. The Chande, on the other hand has dipped sharply reflecting the potential rejection of our profit target of 4306. This is further confirmed by a red triangle on the KRI. The next target will be 4327. We maintain that stocks are due for a healthy retracement, potentially bringing us back to 4272.
FX:SPX500Long
by quantguy
ATCO more to comeI was having a discussion with one of my trading buddies today regarding my trade on ATCO, using a strategy I adapted from the great Jesse Livermore using a pyramiding order system along and below a mean using standard deviation and the Andrews Pitchfork method. Shortly after the covid drop I started to build a position on ATCO after quickly identifying the reaction from the drop creating positive market structure, I used this structure to find a mean or secular trend (although a little early to call it) to start building a heavy line taking opportunity of price action using either .5, 1 and 1.618 fib levels below the secular trend. I have had a total of 8 entries now (June12th/July13th/august20th/September25th/October29th/December17th in 2020 and jan25th/june24th in 2021) with an avg weighted entry price of 9.81. Using this strategy has enabled me to keep my avg entry price weighted to the downside staying in considerable profit the entire time with plenty of time to react to any significant market downturn that could invalidate the current trend and be able to exit the position for a healthy profit. In the mean time this becomes a risk free trade as I trail my stops up under major market structure and keep a close eye on the multiple trend lines within the ascending range. Fast forward to recent structure we have hit previous local highs mid march which then created a tight descending range forming a bull flag or potentially the handle in a much larger cup and handle formation. This has proven to be a profitable system for me to trade the equity markets looking for major trends to test previous highs and then break through shortly after a short term consolidation. Last night we got a glorious break of that flag with very nice volume to back up the momentum or participation from the down trend and its looking very strong and optimistic now for the break from previous highs and to head back into a price discovery for 2021 above 15 dollars. This trade although not a huge price action % gain has been one of my most profitable position trades to date, which currently sits at almost 26R (based on original account balance from entry), This has been an incredible trade to manage so far and is one of the reasons I love this strategy of position trading so much.
ALong
by DeNomics
5
Stocks Losing Steam??Stocks have extended gains yet again, coming just shy of our target of 4306, before pulling back ever so slightly. This is nowhere near the retracement we were expecting but it does validate our assertion that stocks are 'rounding off', potentially in preparation for a further selloff. Watch for support at 4272, and 4245. The Kovach OBV is still strong however, and no one can deny the bull trend, so watch for momentum at open to determine if we have the strength to break past 4293 to our target of 4306.
FX:SPX500Long
by quantguy
Positional Long Trade on KABRA EXTRUSIONS PRICE PATTERN ANALYSIS- 1) Stock broke out today from a SYMMETRICAL TRIANGLE PATTERN 2) Breakout was approximately at 2/3rd of the length of the triangle, indicating strength of the pattern 3) Pattern was formed over a period of 3 months, making Lower Highs and Higher Lows, which made a Symmetrical Triangle Pattern. VOLUME ANALYSIS- 1) FALLING and LOW volume across the formation of the triangle. 2) BREAKOUT was accompanied by a HUGE SURGE in volume, confirming the pattern breakout validity. TARGETS- 1) The targets for such a formation is the Difference between the 1ST HIGH and the 1ST LOW ( 215-157 ), which is equal to 58. This amount we add to the BREAKOUT POINT ( 205 ) to arrive at our TARGET ( 205+58 ), which equals 263.
NSE:KABRAEXTRULong
by aniketkulkarni500
Stocks Rounding OffStocks keep creeping up and have hit our profit target of 4293. We are seeing the price action 'round off' suggesting a retracement is to come soon. Typically these arching patterns precede selloffs. The Kovach OBV was strong but has curved over as well. There is no doubt stocks are in bull mode right now but it appears that they are ready to let off the gas for a bit. The levels 4272 or 4245 will provide support. If we are wrong and the S&P gets another burst of momentum, then 4306 is our next target.
FX:SPX500
by quantguy
Correction for Stocks??The price action for stocks is rounding off. We are seeing less and less momentum, and the Kovach OBV is still strong but tapering as well. When the S&P is rallying at a decreasing pace, it typically heralds a correction. There is no doubt the overall trend is bullish, but buying now would be FOMO. Levels from below like 4245, or 4228 would be enticing levels to buy back. If we are able to muster enough momentum to breakout then 4293 is the next target.
FX:SPX500
by quantguy
Stocks Inch Up, Retracement Soon??Stocks have inched up, achieving our profit target of 4293. There will be some resistance here, and it is doubtful that the S&P will have the momentum to break through at the moment. Some ranging or a retracement is likely first. Stocks are clearly in bull mode, but the momentum seems to be waning and the gains are increasingly more paltry. We will have support from 4272 and 4245. Our next target is a bit more conservative, at 4306 if we do see another burst of momentum. We should also see resistance at the 4300 mark, since this is a psychological level.
FX:SPX500
by quantguy