Gains
$SPY - Burning All PutsYes! I expect us to break the recent low. Two major gap downs on 6/10 is VERY bearish. If you have two large gaps like that, it means we have a lot of selling pressure, which we're not done selling off, however, it might not happen within the next month as we need to continue our upside move first as I stated in my past posts. I would be cautious on going short/puts since we have a bullish setup on the chart. We could easily go up and meet my daily resistance trend highlighted in yellow, reject, and then move higher with us eventually (possibly) hitting the uppermost key resistance trend that I've outlined in teal before moving back down. You may use me as an indicator, but overall I am long in the interim.. till next time! :-)
Solana Outlook -- 4H 1.) Current Sol outlook. US30/BTC continue to show bullish/revival, thus...alts follow like ducklings. Know the chain of command.
2.) Fibonacci completely retraced from 6/13 swing low, S/D zone one turning to support.
3.) Possible retest of 38 to be considered for those seeking long. 4H over-bought, and bear candle close above EMA 10...albeit affecting little.
4.) But, could plow through. 50/50 probability, use risk management. Already took gains through last push, not taking position without retest.
5.) Keep it simple folks. Enjoy the day, trace the news. Again, this chart is as such because it's in lock-step Dow/BTC. Plan accordingly.
6.) Ditch whatever cultish sentiments you have toward alts, good or bad. That's emotional/tribal trading. Just read the charts.
You do you. #DYOR
$SPY - Time for a BounceGiving last week's update which I didn't realize was private:
Last week was by far one of my best weeks this year trading in the stock market this year, and it's due to a variety of factors: the DP prints, option flow, macro/news, and technicals. I've been preaching the incoming downward movement regardless if SPY or other equities like AMD (downward trend completed -- see prior TradingView analysis on $AMD).
- We had huge option order flow occur all week.
- The consolidation we were seeing with respect to the supply and demand zone on $SPY.
- Testimonies and global events that were creating more room for concern.
- Dark pool activity not only in $SPY but all across tech especially.
Put all that together -- the put flow, the dp data, macro/news and technicals and you'll get the best risk to reward that you can play with, which means more money in the market. You may have to wait to find the right set up, but considering multiple variables is the most consistent way to trade and if you want to be a trader that's what you got to end up doing at the end of the day.
The data all together worked out pretty well as we saw a huge waterfall and more sell off after CPI data was released. I took my profits last Friday as this week could still remain pivotal.
So what happens this week? My expectation is we fall a little more, however, I don't expect us to make a new low of the year.. at least not by a significant margin. A variety of scenarios could play out, if we fall further on Monday, I expect us to get into a range between prior supports (approx) 385-387. We may also possibly get a bounce from a sell-off on Monday going into Tuesday and from there we could see a possible gap fill this week if not later. Then after the gap fill, we could see another bearish retreat. I want to talk about the put flow all of last week. Super super bearish . I shared the deep $SPY action last Monday which allowed those folks to cash in on the amazing waterfall we experienced on Friday. The thing is most of these large orders is they have shown to be valid especially during corrective stages. Nevertheless, always be careful especially with how volatile the markets have been. Keep in mind the technicals and flow to give you a sense of where the market can go in the near-term time period.
Now:
We definitely made a run for it and enough to come up to a short term demand zone . The FEDs job technically right now is to halt consumer spending. Spread fear and have people stop buying to combat inflation . That’s not necessarily good for companies selling. And rate hikes will hurt companies who need to borrow and are in debt especially with limited free cash flow.
The recession drama is far from over and there is still great possibilities of downside in the market. Personally, I think we will continue to see worse inflation for this month. We have just started to see the first lowered guidance from companies across the board for the first time in a long time that there's no reason to see a pick up into next quarter.
The stock market and how the economy is going aren’t always moving together so even if the general expectation is to see more downside, I believe we're due for a bounce up in the near-term.
Showing a larger picture of my past forecast/history with $SPY. Enjoy!
$SPY Trendline PrecisionWe're seeing huge put volume that continues to test the trendline resistance based on my previous $SPY analysis and based on the timing of this post, we just saw a huge bump from that same trendline. $QQQ also went red today and is fighting intraday support. Stay cautious as we could still move upwards in the near term, but I fully expect us to trend lower within the coming month(s).
$AMD's Bearish SetupWe recently saw a huge big green candle and then gapped down on Friday. Both of which retested the top of the wedge and failed to get over. That itself lends to bearish sentiment and is a bearish move in the making. While the green candles look bullish, the price action has yet to get back over the top of the wedge and until it does, the price emphasizes a bearish trend, so the bulls will want to get that back above the wedge.
Current position: I am still short on $AMD ($100 Put) and will monitor it to test the bottom of the wedge.
Start Accumulating VRA Now. The best time to accumulate Verasity (VRA) begins now (if you believe in the project).
Please refer to the two bottom zones (anything under 0.25 really and the lower the better ofc) will be your best opportunity to accumulate VRA before the next run. Smart money comes in now. They also have staking rewards on their website so if we have to wait a year or two for the next bull run, we will be compounding our returns.
Risk Warning: This is only if the project continues to grow its community and stays strong. Always a risk with low market cap coins. However, if all goes well I think this is a terrific opportunity for some exceptional gains.
#DOGECOIN OVER 72% RUN TO COME?!!!According to technicals, $DOGE is currently setup to climb over 72% to reach the target at $0.262 and there is nothing in the way of this besides time. With #Dogecoin's breakout in late March, this target became in play and only time may be in the way of it being met. Strap in as there may be much to come for BITFINEX:DOGEUSD ...
KP3RUSD Accending with great oppositionSo this particular coin has had several moments of great success always followed by a very late egress, causing unforeseen losses and worse, I always had some strange issue with entry even though my analysis was accurate.every time. I never put anything in the DOM however, until I was ready and "LIVE" trade ready. This one has a way of adjusting slippage snuffing you out of a beautiful entry and exit with very high profit potential on a very simple trade. Limit order in on trend and sell out limit order at $15 profit 1:1 R-R Somehow I missed the last one but I was driving when my alert notified me so that became another dumb money event for me I care not to relive , and now I stand here looking at this and I am quite sure it is on it's way into an uptrend. Without spoiling the opinion of another, I would love to keep my reasons to myself and see what anyone else thinks on their technical theory with this. Do you think it's going to keep heading down again? I definitely think its about to explode much further than we could guess regardless of current knowledge suggestions or without. It is showing an uptrend and I think anyone wanting to ride that train needs to look at this constantly. Don't forget, it just jumped way up. On the 24th (2) two days ago (3-24/2022) from $395.00 up over a two (2) day period and stopped around the new resistance level of $603 and resistance is around $548 but this isn't confirmed yet so the resistance can quickly reverse or become neither and we see this jump into higher ranges which is what I think is going to happen. Any thoughts???
I nearly forgot, this has a potential for massive gains in any event this analysis is accurate just to remind anyone looking for some potential this is a good one here...Cheers
I have another account which is locked out but it's username "pneumatik"
BREAKOUT ON AVCTThis stock have seen a perfect set up on the 1D. This with the MACD on the daily wanting to swoop to the upside and upper BOLL got tested and broke through, this could be what the stock needs to see the $2-$3 range again.
If it doesn’t the $1 would act as new support and $1.34 would be the new resistance.
With a lot of momentum in the stock market right now it’s very likely to see a breakout in this and multiple other stocks set up like this for this week
Ethereum Consolidates Near $2,800An immediate resistance on the upside is near the $2,800 level. The first major resistance is near the $2,830 level. Ether price must clear the $2,800 and $2,830 resistance levels to start another increase. In the stated case, the price may perhaps rise towards the $2,880 level. Any more gains might call for a move towards the main $3,000 resistance zone in the coming sessions.