Trading Idea - #BlackRockMy trading idea for BlackRock Inc. - SHORT / SELL
Target: 593.00 USD (approx. 14% profit potential)
Blackrock is under pressure. The US state of Missouri is withdrawing money from Blackrock from its pension funds. State Treasurer Scott Fitzpatrick accuses Blackrock of focusing too much on environmental, social and governance (ESG) criteria at the cost of the return. In fact, $500 million were at stake.
The world's largest asset manager is also affected by the stock market turbulence. The assets under management are sinking, profits are falling. Blackrock reacts promptly and declares a hiring freeze. Only particularly important positions will be occupied.
Chart: The great hope in the second quarter was in the support forming around the USD 580.00 mark. The July impulse was only of short duration and the price fell below the 580 line. There is currently no other support in sight, so further falling prices are to be expected. The 580 USD mark could become a resistance line in the short term.
ETF
GLD: Sandbox ⛱After the hard work of finishing wave iv in magenta, we expect GLD to play a bit in the yellow sandbox between $150.72 and $140.40, all the while completing wave (4) in yellow. Then, it should get down to business again – or rather get up to business, as we expect GLD to climb northwards, crossing the resistance at $171.23. There is a 35% chance, though, that GLD could rise above this mark directly and without amusing itself in the yellow sand.
SPY S&p 500 ETF and the Midterm ElectionsThe U.S. midterm elections will be held on Tuesday, Nov. 8, 2022.
All 435 U.S. House seats and 34 of the 100 Senate seats are on the ballot.
If you haven`t sold the high P/E ratio explained here:
Then you should know that the Current S&P 500 PE Ratio is 18.10. Sill high in my opinion.
Even though my Price Target for the end of the year is $338, i expect a short term rally before the Midterm Elections.
Looking forward to read your opinion about it.
SPY S&P 500 ETF game plan for this weekAfter last week`s rebound played perfectly:
As well as the the Head and Shoulders Bearish Chart Pattern:
For this week i have selected the 1h timeframe to understand better the possible movement.
I believe that we will see a rebound once again at the beginning of this week after the speaks of Chicago FED Presidend and Vice Chair of FED on Monday and Cleveland FED President on Tuesday, but the market will close once again red on Friday, after the bank reports, where i think we will hear about revisions and recession incoming.
Looking forward to read your opinion about it.
What is an ETF? (exchange traded fund)
An exchange traded fund (ETF) is an investment fund that invests in a basket of stocks, bonds, or other assets. ETFs are traded on a stock exchange, just like stocks. Investors are drawn to ETFs because of their low price, tax efficiency and ease of trading.
ETFs seek to provide the performance of a specified index, such as the S&P 500, and typically have low fees.
Like mutual funds, ETFs offer investors diversified exposure to a portfolio of securities, such as stocks, bonds, commodities and real estate.
Why are ETFs popular?
While investors often associate ETFs with large stock indexes, such as the S&P 500, ETFs provide access to virtually every asset class, sector, region, theme and investment style.
ETFs are popular because of their low fees, tax efficiency, liquidity and transparency. Since the first ETF was launched in 1993, the ETF industry has grown substantially, with more than $3 trillion now invested in ETFs.
What are the benefits of ETFs?
ETFs cost significantly less than comparable active mutual funds — and that savings can add up over time. Other benefits include:
Access and liquidity. Because ETFs are traded on stock exchanges, they are easily bought or sold.
Transparency. Just like mutual funds, ETFs report performance quarterly and fees daily.
Diversification. ETFs provide access to a wide range of investment options, covering a broad range of asset classes, sectors and geographies. They also make it easy to select specific themes or investment styles.
What are the risks associated
with ETFs?
Like mutual funds, ETFs carry investment risk depending on their asset class, strategy and region. Some ETFs are riskier than others.
In addition, if you invest in an ETF that holds securities in a currency other than your own, movements in the foreign exchange rate may affect your returns.
a better chart for anyone upset it was clear what I meant. 1st chart was a a bit vague for some people so i wanted to help clear up any miss understandings and make things much more clear. Trying to be helpful can come with its own learning curve. I hope this chart helps better explain the verbage its attached to with the one prior. Happy to help .
Fill the $37.85 Gap before the $36.85 It seems likely we fill the gap above Before the one below. Once we get Both of these gaps filled, we will then have a BIG decision ahead of us.
Most likely more Drama to come sooner than later but i could be wrong. Either way even if we claim 3800 back on the big boy and turn it into Temporary support again. I still see a bigger drop coming at some point to 3200-3400 ranges. I think that's the Real support and first line of true defense in the cascade DOWN.
To me this is just a relief rally underway and even if it turns into a BIG one it's still more DOWN to come.
SADLY, i see world economics /macro etc. getting MUCH worse over the next 6 to 18 months MINIMUM.
SPY S&P 500 ETF Double Bottom Technical ReboundIf you haven`t shorted the SPY Head and Shoulders Pattern:
Then you should know that a technical rebound refers to a recovery from a prior period of losses when technical signals indicate that the move was oversold.
In this case, the Relative Strength Index momentum indicator of SPY S&P 500 ETF is at 24.05 on a Double Bottom Reversal Chart Pattern.
A double bottom is a reversal chart pattern in technical analysis that describes a change in trend.
Even though i am overall bearish on the economy, buying a strong financial instrument when the RSI is below 30, would make a case for a potential short term reversal.
My ultimate price target is $338, but for now i am bullish.
Looking forward to read your opinion about it.
SPY opening close to flat. Intraday and weekly areas of interestThe spy is in a down trend on the weekly, and close to making new lows for the year. Looking to see if the previous support zone holds or if we break lower. Intraday levels of trade interest for me are in the video as well as weekly chart targets if price breaks lower.
SPY etf S&P 500 Price per Earnings still high: 18.66 ! If you haven`t bought puts ahead of the FOMC meeting:
Then you should know that the P/E Ratio of the S&P 500 even after last Friday's sell-off is 18.66.
Now considering that the median value is 14.90, i would say that a fair price for the S&P would the the pre-pandemic level of $3380, and respectively, for its etf SPY, $338.
We might see a technical bounce here, due to the fact that the S&P is oversold and usually at this level is a buy opportunity, but short lived, to the next resistance of $374.
Two months have delivered an average negative return for stocks since 1945: February and September, the latter being the worst.
Looking forward to read your opinion about it.
Gold (XAD1) ETF Trade UpdatesBuy when others are afraid ... Warren Buffett said.
I have always followed this phrase and have almost always had region, but I dare to say ALWAYS, speaking of ETFs and long-term portfolios.
We are in a year that will be remembered, certainly the first 6 worst months since the 70s.
I've been accumulating on all my ETFs since early January 2022 and I am sure the market will agree with me.
Now, let's talk about gold, because, unlike the other ETFs that I manage both actively and passively, I manage it ONLY in an active way, knowing its dynamics very well, as I do with oil.
We arrived on very important volumetric support, so on Friday, I went to buy on the ETF that replicates the futures, at 105.26.
The possible landing in area 100-101 marks the second entry level and, for those who do short-term trading, the target I recommend is 115.
The completely anomalous trend of this "refuge" asset continues, which from 2020 instead seems to follow the market.
This may be related to the bond trend, which is making a lot of money recently.
Anyway, I think the current prices are quite interesting, we are more than -20% from the highs.
I will not rebalance my portfolio percentage before I land on all-time highs.
Happy trading
Lazy Bull
SPY 9/11/22 Analysis Update (Part 3)SPY has finally arrived to the June 17th, 2022 lows to form that double bottom (Yellow Circle). At the close of day on 9/23/22, SPY formed a hammer candle on the daily timeframe right atop the demand zone . On the weekly, SPY hovers closely above the 200 day moving average. Also, I have noticed that SPY has a MACD crossunder on the weekly timeframe . In contrast, there is a possible bullish divergence forming on the weekly timeframe .
As far as Elliott Wave goes, we may have just completed wave 1 of Wave C of the overall (ABC) corrective wave that began at the beginning of the year.
As stated, this is a HHUUUGGEEE level to watch. With Friday, 9/23/22 closing with a hammer candle, I am watching for a bounce here to begin corrective wave 2 within Wave C of the overall (ABC) corrective wave that began at the beginning of the year.
Let's see what happens :)
SPX S&P500 The Bigger PictureThe FED Meeting on September 20-21 is expected to deliver 75bps hike.
The decision will be announced on September 21.
Some key data to consider:
The annual inflation rate in the US eased for a second straight month to 8.3% in August of 2022, from 8.5% in July, but above market forecasts of 8.1%.
Inflation rose for food (11.4%, the most since 1979), shelter (6.2%, the most since 1984), and used cars and trucks (7.8%).
Core CPI increased 6.3% on a year, the most since March, and up markedly from 5.9% hit in both June and July.
So there is a change to see even an 100bps hike next week!
Under those circumstances, the economic hurricane coming our way that Jamie Dimon was preaching, could become reality:
If we look at the S&P chart, we can easily presume a retracement to the $3714 support line, followed by, worst case scenario, a drop to $3100 if we are going to see more earnings revisions, like FDX did this week.
Looking forward to read your opinion about it.
GLD: Warm-up 👟GLD is warming up in the lower magenta-colored zone between $152.85 and $159.20, where it still has some room left to finish wave iii in magenta. Afterwards, it should jump up into the upper magenta-colored zone between $163.39 and $171.23 to complete wave iv in magenta, before sliding into the yellow zone between $150.72 and $140.40, where the overarching downwards movement should end. There is a 40% chance, though, that GLD could decide to rise earlier already and thus could directly climb above the resistance at $171.23.