SMCI Bottom and Christmas Rally To ComeLight Fundamental:
It is a stock called SMCI (or Super Mico Computer). It is a US company that makes super powerful computers and servers. The world needs servers to help run things like big websites, apps, and AI. The stock price fell by half. So, it is selling at a discount for what it is really worth. So, it is a good chance to buy it.
Technicals:
Gartley-like pattern
diagonal support
engulfing bullish pattern with d3 volume and volume confirmation
a-b-c completion at a 78.2% fib pullback
Entry is above the weekly engulfing bullish candle at 475.44.
Target is, tentatively, 1500.
Note: preparing for either an election rally or a Christmas rally in stocks
Fibsupport
BTC Monthly Chart After we double topped on monthly, I am assuming we get to the .618 fib $26,500 which will be intact with the Btc log curve zones. Losing the .618 fib also have higher chances of getting to the .786 fib level at that point all Cme gaps will also be filled. Keep your capital safe DCA little at a time. after this we may start a new cycle or enter a long period of accumulation before next halving in 2024. Anything is possible at this point in time for now I am targeting the .618 fib to buy some Spot and take it from there day to day. Test Previous ATH before we put in a Newer ATH. Two boxes I have drawn will be my buying zone.
ES correction and key levels to watchHere is a breakdown of levels I am watching after the FOMC minutes pushed major indices lower. ES/SPX gave up the trend, can turn into sell the rally event if bulls do not recover the 4745 level fast and hold (not looking like it so far,) I am leaning toward a lot of volatility. Rest of the week will be difficult and big moves up down. Downside targets now adjust to previous lows. 4640/4615/4590/below that ES can sell to 200 day moving average at around 4400.
Thanks for watching.