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SPX: A decisive moment on SPX!Hello traders and investors! Let’s see how the SPX is doing today! We see some very interesting movements here right now. In the 1h chart, it is holding around the 4,375 (previous top), which we talked about in my last analysis. This is a nice support level, and this reaction is important because it is trying to create a bullish structure. This could reverse the trend in the daily chart, but I agree that this won’t be that easy. This is the 3th time that we are retesting the 21 ema area, and any bearish reaction in the daily chart might trigger a pullback to the 4,365 (to fill the last gap, at least). Yes, the situation is still delicate, but we have no bearish sign confirmed yet. If it keeps above the 21 ema in the daily and hourly charts, this could be the reversal sign the index needs in order to truly reverse and seek the next resistances in the 1h chart. The moment is decisive on the SPX, and today’s reaction will give shape the next structure. Let’s keep our eyes open, and if you liked this post, remember to follow me to keep in touch with my daily updates. Have a good week.
SP:SPX
by Nathan_The_Finance_Hydra
9
BBVA Strong Opening GapBBVA is a Spanish bank that provides retail banking, wholesale banking, asset management, and private banking services. It offers banking services in Spain, Mexico, South America, the US, Turkey, Asia-Pacific, and Europe. This morning, Oct 5, BBVA opened with a substantial opening gap clearing two areas of S/R. Since Nov of 2020, BBVA has been in a solid upward channel. This gap comes after a recent test of the bottom of the channel. A volume spike accompanied the test of the bottom. On the daily chart, RSI and ADX both show an upward trend with room to run. However, the ADX does not offer much conviction. When looking at the weekly chart, we see the same lack of confidence in the ADX. But RSI is signaling a solid bull trend. When trading gaps, I place the stop loss at the high of the previous candle. If the price whipsaws and closes the gap, I want to be out as soon as possible. I placed it at 3:1 RR for the profit target since it is slightly lower than the top of the channel.
NYSE:BBVALong
by Ronald_Ryninger
PLTR: Just filled a gap! What's next?Hello traders and investors! Let’s see how PLTR is doing today! We had a Red Monday yesterday, and PLTR crashed along with the rest of the market. Now, what’s for us here? First, let’s keep in mind that PLTR just filled its gap at $ 23.19, and now we have the beginning of a bullish reaction. This candlestick pattern could be a Harami, which is not the best reversal pattern, I agree, but since it is near such a good support level, the odds of a reversal increases dramatically. In addition, PLTR has been dropping since Sep 24, but the volume was below the average. This is another sign that PLTR has been dropping just because it has been following the market. We still don’t see any meaningful bearish structure that could sustain this drop for too long. In fact, there’s a good chance that we just hit the bottom for now. What we must see is a clearer bullish structure in the 1h chart: If PLTR closes above the previous support level at $ 23.67, it’ll be a good sign, but what we really must see is a bullish structure. So far, PLTR has been doing lower highs/lows, and as Dow would say: Trends persist until a clear reversal occurs. This week is going to be decisive on PLTR, and if you liked this analysis, remember to follow me to keep in touch with my daily updates. Have a good day!
P
by Nathan_The_Finance_Hydra
5
BTC TRUTH ! The Securities and Exchange Commission has extended the deadlines for four Bitcoin ETFs. The Commission cited the need for additional time to “take action on the proposed rule change.” Cryptocurrency proponents remain hopeful for the approval of a US Bitcoin ETF in the near future. Exercising its statutory powers, the SEC has extended the time frame for revealing its decision on four Bitcoin ETF proposals. The extension will give the Commission sufficient time to go over the finer details of their applications amid mounting optimism. SEC Flexes Its Statutory Powers The SEC has extended the time for reviewing applications of Bitcoin ETFs by 45 days. The affected proposed Bitcoin ETFs are Global X Bitcoin Trust, Valkyrie XBTO Bitcoin Futures Fund, Krypton Bitcoin ETF, and WisdomTree Bitcoin Trust with the last ETF to be approved on December 24th. This move is in line with the statutory powers bestowed on the SEC. According to section 19(b)(2) of the Securities and Exchange Act (1934), provides that “within 45 days of the publication of the notice of the filing of a proposed rule change, or within such longer period up to 90 days (i) as the Commission may designate if its finds such longer period to be appropriate and publishes its reasons for so finding…”. The reason put forward by the SEC for the extension of time is to obtain “a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and any comments. In the end, the Commission shall “either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change. Bitcoin ETF On The Horizon In recent months, the SEC has received a spike in Bitcoin ETF applications as the community believes the time is ripe. In September, Invesco teamed up with Galaxy Digital to submit a proposal with the number of applications soaring to unprecedented levels. Bloomberg’s Senior Commodity Strategist, Mike McGlone famously predicted that the community could see the launch of a Bitcoin ETF before the end of October. Gary Gensler, the Head of the SEC, is of the opinion that the type of Bitcoin ETF that could most likely obtain approval is the Bitcoin Futures ETF. The SEC currently has over 12 applications it has to review but remains concerned about the potential for market manipulations that they possess. An approval will open the floodgates for applications and could send BTC prices on a price rally.
CME:BTC1!
by globalsymmetrygroup
AMZN: Some scenarios to work with!Hello traders and investors! Let’s see how AMZN is doing today! Since our last analysis, AMZN triggered the bullish signs we were focusing on, and it went up nicely, until it gave us a reversal sign. Now, AMZN is not bullish anymore, but it is still not bearish at all. Since we just retested the previous support level at $ 3,305, AMZN has been moving sideways. The volume is very high, and this might indicate that the moment it starts to react, we’ll see something good around. Now, let’s work with scenarios. For a bullish scenario to materialize, we must see AMZN triggering the $ 3,351 . This will create a reversal pattern and lead AMZN to fill the two previous gaps in the short/mid-term. What if AMZN loses its support? Then the daily chart will give us more clues. If AMZN loses its support in the 1h chart, it’ll also lose the 61.8% Fibonacci’s Retracement for good, and there’s no other support level to work with, only the $ 3,175 area. Only time will tell what AMZN will do next, however, we can always work with scenarios to prepare ourselves. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Have a good day.
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
1
NVDA: The Gap Reversal Ritual.Hello traders and investors! Let’s see how NVDA is doing today! In the 1h chart, we did a false breakout from the previous support at $ 206, and we are going up nicely today. In fact, today’s reaction is quite important, as this might be the beginning of the famous Gap Reversal Ritual . NVDA did three different types of gaps during its last bearish leg. First, it did a Runaway , triggering a pullback to the 21 ema. The second gap is a Breakaway , as it is losing the 21 ema and the previous support at the same time. The last gap seems an Exhaustion , as it looks like it was the final push for NVDA to hit its technical support at $ 206 area. Now, if NVDA confirms any bullish chart/candlestick pattern reversal, we could fill all the three gaps in the mid-term . The next challenge is to defeat the 21 ema. In the daily chart, there couldn’t be a better support level. We barely retested the 61.8% Fibonacci’s Retracement , and now it seems we are trying to defeat the 50% retracement, which is the same point where NVDA did a top on July ( coincidence or not ). If NVDA truly reacts around this meaningful support level in the daily chart, defeats the 21 ema in the 1h chart, and confirms a reversal, it’ll trigger the Gap Reversal Ritual for good, and the chances that it’ll fill all the gaps will be quite high. In fact, I’ve never seen this pattern failing. This happened many times in the past with TSLA, AAPL, GOOG and many others. For now, let’s just wait for more confirmation. Remember to follow me to keep in touch with my daily updates, and if you liked this idea, please, support it ! Have a good day!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
5
NIO: This pattern can save the day!Hello traders and investors! Let’s see how NIO is doing today! We have an important reaction right now, as NIO is trying to trigger a Double Bottom chart pattern by breaking the $ 36.50 area. It seems the $ 34.510 worked as a nice support, after all, and this might bring something new to NIO. We still have two open gaps, and by triggering this Double Bottom, the first one will be easily filled. The last one, at $ 40.59 is not going to be that easy, and NIO must do stronger bullish structures to reverse the trend for good. However, this Double Bottom might be a good start. Now, let’s see the daily chart: The situation is not the best, as the trend is still bearish, and aside from the signs in the 1h chart, we still see nothing meaningful in the daily chart. It is important to defeat the 21 ema, which is above the price and pointing down, before anything else. Today’s reaction made a good candlestick pattern, yes, but it feels like it is too soon to tell if it’ll truly reverse or not. Let’s keep our eyes open, and pay attention to more signs. The fact that it is reacting near the bottom level of a possible Triangle pattern in the weekly chart is surely interesting. Again, I think this is a good start, but let’s wait for some confirmation. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Have a good day!
NYSE:NIO
by Nathan_The_Finance_Hydra
2
PLTR: I told you to BUY the DIP!Hello traders and investors! Let’s see how PLTR is doing today! Since our last analysis, PLTR did confirm our Double Bottom pattern above the $ 26.07, and it resumed the bull trend nicely. Now it is doing a pullback to the 21 ema in the 1h chart, as usual, and the situation seems to be under control. Yes, PLTR is dropping today, but since the volume is so low, I’m not convinced that it’ll keep dropping. Either way, we must keep our eyes on the $ 27.91, as this is a possible bearish pivot point, which could make PLTR drop a little bit more, if triggered. In the daily chart, we see that PLTR is just trending nicely, and if it triggers the bearish sign in the 1h chart, a pullback to the 21 ema would be expected again. So far, we have not a single bearish sign, not even a possible pullback sign, so we’ll just assume that it is seeking the gap at $ 31.34. The gap is our next target, however, for the long-term, we expect that PLTR will retest the $ 45 again, and we have technical reasons for that. The moment PLTR broke the $ 27.47, it triggered a pivot point in the weekly chart, and this long-term reversal sign is something impressive. It is above the 21 ema again, and the volume increased nicely during and after the breakout of the pivot point. All of this tells me that PLTR will fly again, but first, let’s focus on the key points mentioned in this analysis. Remember to follow me to keep in touch with my daily updates, and if you liked this analysis, please, support it before you leave! Have a good weekend!
P
by Nathan_The_Finance_Hydra
5
NVDA: Good reaction in an important price level!Hello traders and investors! Let’s see how NVDA is doing today! After it defeated the pivot point at $ 214.56, NVDA reversed the trend nicely. It quickly filled the gap (yellow area), making it an Exhaustion Gap, and now it is trading slightly above the resistance at $ 224 , which is a good sign. There’s still a chance that it’ll do a pullback to the 21 ema again, and this wouldn’t ruin the bullish bias at all . When a stock is trending, pullbacks are just opportunities to buy. What’s more, the pivot point was triggered in a very good moment: In the daily chart, NVDA just retested the 50% Fibonacci’s Retracement and the support at $ 208 (black line), and it did a nice Doji candlestick pattern too. We have many bullish signs around, and considering that the long-term trend is bullish, NVDA seems to be perfectly under control. We see not a single bearish reversal pattern , either in the 1h, daily or weekly charts. It seems NVDA just completed its pullback, and now it resumed the bull trend. As long as we don’t see any bearish sign, NVDA will remain bullish and seek the next resistances, maybe even the ATH soon. Let’s follow it closely. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and s upport this idea if it helped you! Have a good day!
NASDAQ:NVDA
by Nathan_The_Finance_Hydra
AMZN: Keep an eye on this REVERSAL PATTERN!Hello traders and investors! Let’s see how AMZN is doing today! This week AMZN dropped sharply, but is there any reason to panic? Let’s see. I would be worried if we didn’t see any bullish structure around, which fortunately, is not the case. We have a pivot point at $ 3,379.70, which is supposed to work as a bullish reversal pattern. The catch is that the pattern wasn't triggered yet. As evidenced by the red line, we just did a bottom higher than the previous bottom, and if we do a new high, this will break the bearish bias for good . We’ll defeat the 21 ema as well, and AMZN will just seek its next resistances, like the gap at $ 3,456.37 and the $ 3,549.49. Now, let’s see the daily chart for more clues: In the daily chart, AMZN just hit the 61.8% Fibonacci’s Retracement , and now it is reacting nicely. It seems AMZN found a floor around here, and this reinforces the idea of a bullish reversal movement . The only thing we must wait is for more confirmation , after all, the situation is still delicate. The trend is not bullish yet in the daily chart, and any buy here would be risk. This week will be decisive for AMZN. I still see it filling the gap at $ 3,580 , we just don’t know when it’ll do it, or how. If you want to keep in touch with my daily updates, remember to follow me , and if you liked this idea, please, support it ! Have a good day!
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
5
PLTR: I told you it was going to hit our TARGET! What's next?Hello traders and investors! Yes, PLTR broke our target, and it is trading above it since our last analysis, last week, which was a crystal-clear buy opportunity . Now, what’s next for us? First, in the 1h chart, we see that the trend is clearly bullish, and there’s not a single reversal or bearish sign around. Even if we see a top coming, our target at $ 27.47 is a support level for us, as it was a previous resistance. This happens thanks to the Principle of Polarity . Now, let’s see the daily chart: Yep, the situation is looking good here too. We have no top sign, and we can set a new target on PLTR: $ 31.34 . This is a previous gap, which will be filled next. Now, let’s see the weekly chart: Yes, PLTR triggered the bullish pivot point when it broke the $ 27.47, and this is a big deal. This pivot point is a long-term reversal pattern, which has a target at $ 45. First, let’s focus on the gap, ok, but technically, PLTR has everything to retest the $ 45 again. If you liked this analysis, remember to follow me to keep in touch with my daily updates. Support this idea if it helped you! I see you on Monday! Have a good weekend.
P
by Nathan_The_Finance_Hydra
9
SPX: About to do something interesting!Hello traders and investors! As usual, let’s see how the SPX is doing today! I overestimated the bears, as I was expecting that the index would fill the gap at 4,444 yesterday. We still could fill this gap, as today the index did a rally to the 21 ema, just to do another bearish reaction, making it a possible Dead Cat Bounce . However, if the index reacts and closes above the 21 ema, we might see a reversal pattern, possibly a bullish pivot point . Aside from the support at the gap, now seems to be an important place for the index to form a bottom in the daily chart: Since we are just above an important support line, any bullish reaction around here would be an excuse to buy. We just need to wait for confirmation. The volume seems ok, but it is harder to read than SPY’s volume, which clearly spikes when we get near the support line: Surely, something interesting is about to happen. Let’s pay attention to the signs it’ll give us this week. If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you! Have a good day.
SP:SPX
by Nathan_The_Finance_Hydra
11
AMZN: Careful with this Trap Zone!Hello traders and investors! Let’s see how AMZN is doing today! Like many other stocks, it seems we are having a Double Top chart pattern, but I see more than that. Keep in mind that the momentum is bullish, so the 21 ema is going up along with the price, offering a dynamic support level for AMZN. The price is between two important key points, above the 21 ema, and under the resistance at the previous top level , at $ 3,526. This is what we call a “ Trap Zone ”. The 21 ema is squeezing the price against the resistance, and at some point it’ll explode, we just don’t know if it’ll do an upwards breakout, or a downwards breakout . However, we work with some scenarios. If AMZN loses the 21 ema in the 1h chart, probably it’ll seek the 21 ema in the daily chart. The bias would still be bullish, as we lack bearish structures in the daily chart and it might be an opportunity to buy. If we defeat the resistance at $ 3,526 then the odds are the AMZN will fill the gap at 3,580 without a pullback, and it won’t give any buy opportunity for whoever's out of it. Either way, I see AMZN filling the gap, we just don’t know how it’ll fill it. If this analysis helped you, remember to follow me to keep in touch with my daily studies. And support this idea if you liked it! Have a good day!
NASDAQ:AMZN
by Nathan_The_Finance_Hydra
6