AMZN - Have we reached the top?Labeled some key levels of significance and used a fib retracement chart to estimate landing zones.
Prior mini-tops retraced to about the .5 fib level. The larger cycle correction could also obey this level but may drag lower to the .618 range, which is why I gave a range for where the price could land.
~1600 is a key level of significance, if it breaks we will be going much lower.
The real question is, can amazon reach ATH? Watch the volume carefully when we have the bounce back up. Should be good indicator for remaining bull strength.
Google (Alphabet)
GOOG: AlphaBet A Defining Day Ahead AlphaBet GOOG Defining Day Ahead
This turned a little tricky on Friday. A mean/invisible gap on the 15 minute chart and not even there on the 60 minute completely arrested the decline fully 8 bucks above the 1180.85 target line.
The stop was then lowered to 1201 to protect what was left of the profit from any shorts from the 1206.28 line - the original gap line.
The mofo then rallied right back up to kiss the gap line again and left a little spike at the line before falling back again.
Looking at the chart in isolation this still looks bearish and it should fall away to make a proper test of the 1180.85 line.
But it's going to move on news and right now in very near term hopes of a peace deal with China on trade could help GOOG gap up on the open and to jump the 1206.28 line in one bound.
If so it has to hold up from there on any retest.
Only then will Goog (and markets too) be out of clear and present danger.
That looks best case scenario from here...
As the chart currently stands Goog will remain vulnerable whilst trapped below the 1206.28 gap line.
Whilst unable to break and hold above here then markets should also find difficulty in advancing further from this point.
It's still weak whilst trapped inside the channel shown on the chart.
Maybe it will open just around the gap line and maybe twitch either side for a little while - which way it breaks from there will be most likely decide the direction of major markets too.
But on an overall view, this ended last weak looking weak still. Its only way out from here is to gap up and hold above that key gap line on retests.
Right now GOOG looks like it will continue to be the bellweather for markets in general, the canary in the mine.
Hopefully it will help to determine direction for Nasdaq and SandP and other majors and be as helpful as a confirming signal as it has tended to be in the past.
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THE WEEK AHEAD: GOOG, AMZN, TWTR, NFLX, GLD, EEM, SPYTwo biglies announce next week: AMZN, on Thursday after market close, and GOOG, tomorrow after market close. I generally don't play these via options because they are not only large notionally, but options liquidity in them is fairly poor with wide bid/asks, making fair price fills difficult and/or subject to a lot of patient price discovery, which implies that exiting where you want may be problematic. I figured I'd nevertheless mention them, since they can arguably move the markets ... .
One underlying in particular draws my attention for a potential earnings announcement volatility contraction play -- TWTR. It has the kind of rank/implied volatility metrics that I look for in these kinds of setups (rank 67/implied 62). It announces on Friday before market open, so look to put on any play you're going to do before Thursday close. Most of the other underlyings announcing have implied volatilities in the 30's or below
Preliminarily, the August 3rd 38.5/48.5 short strangle pictured here pays 1.94 in credit with a 69% probability of profit, break evens of 37.56/50.44, delta of -.5 (neutral), a theta of 15.25, and a 50% max take profit target of .97. Since it announces Friday, my tendency is to go out another week so that I don't have to scramble on Friday in a panic to manage any broken trade. Alternatively, the August 3rd 43.5 short straddle is paying 5.28 with break evens at 38.22/48.78, with a 25% max take profit target of 1.32.
With earnings in the rear view mirror, NFLX volatility remains fairly decent here (35.5%) -- potentially enough to get one-third the width of the wings in a five wide camped out at the 20 delta in the August expiry: the August 17th 330/335/390/395 iron condor is paying 1.72 at the mid price with a buying power effect of 3.72 and break evens at 333.28 and 391.72. I say "potentially" because I'm looking at after hours quotes and the entire setup is bid 1.41/mid 1.72/ask 2.04. A September 20-delta setup -- the 320/325/410/415 -- is paying 1.80 at the mid, with more generous break evens at 323.20/411.80.
On the exchange-traded fund end of things: volatility remains in Brazil (EWZ, 32.4) and petro (XOP: 28.1).
Lastly -- the major food group directionals: GLD bounced off a level I said I would consider a long at last week -- 115.50, so I may look to take a small directional long there if we revisit that level. EEM bounced nearly $2 off of its 52-week low of 42.15 and would consider a bullish assumption directional shot if this strength proves transitory in the short-term. SPY is revisiting that 280 level that has been pesky overhead resistance since the beginning of the year, so I could see adding at least a split month downward put diagonal, particularly if your portfolio might be in need of some short delta here. As alternatives, I would consider pulling the trigger on an IWM short delta setup at 170-ish or the QQQ's at 180.50 for similar reasons (i.e., add short delta on strength).
Google back to balanceAfter price left the first HAGOPIAN, it reached the Centerline (CL.). After this first CL. touch, the reverse lasted not long, only to leave another HGPN to the downside.
Now price approaches the Centerline again and we can now observe a potential reversal, or if it blows through, a trade to the upside.
The blue dashed A/R's give us an idea, how price is currently swinging on a pivot level.
Let's see if we can catch a reversal.
P!
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GOOG : Will the summit test again?GOOG Weekly chart
GOOG : Will the summit test again?
I think yes
Because the indicators are positive
Volume positive weighted
The final closing is the bollinger top band
It turned from the bollinger subband so, will try the top band again.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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Indecisive S&P 500The SPY (SPX) is giving some mixed messages from various indicators. While the general feel seems to be a grind higher, it's important to note that we have stayed under the 61.8% retracement of the correction even after several attempts to push thru. Also, not depicted on this chart, but we failed to maintain the 100 day s.m.a. (I'll try to add that chart in the comment section.) We also formed an inside bar on the daily, so tomorrow's action should give insight for next week's trading. Of course, none of this is relevant if headlines or tweets of significance happen over the weekend.
I'm playing towards the long side, but hedged with calls in UVXY, and I did that mainly because VIX maintained and closed above 15, and short-term signals suggested we may see volatility surge even more.
Also, the Russell 2000 (RUT) is still strong, but it appears to be showing signs of exhaustion. Ditto the NASDAQ Composite (IXIC) and NASDAQ 100 (NDX).
I really want to short this market, but I'm not fighting the tape. When it says its time, then it'll be time. :)
Google, Bullish Fundamentals AnalysisAs you can see from the chart, at the moment, Tesla is bouncing between a support and a resistance level. The Bullish Trendline is also playing a key role. Last earnings release was stunning with a surprise of over 40% . Fundamentals are definitely bullish and price action just did a sideways correction.
Everything seems ready for a new strong uptrend that will be only confirmed by a strong break of the resistance area.
Sky is not the Limit
The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
Google_(NASDAQ:GOOG)_May_11_2018Since the 2000's Google has always been a growth story. As individuals in this information age it is hard to imagine a life without GOOG. From searching up information to sharing photos, advertising to booking flights, google has become an indispensable part of our lives.
Privacy concerns since the publication of Cambridge Analytica's activities dented the growth of the FANG stocks for a short while but the growth seems to be on track now. With the recent product demos involving AI and Machine Learning, I feel that Google is going be a lead player in most markets (if not by itself then through partnerships; such as the partnership with Walmart to prevent Amazon from cornering all the product search market). There will surely be competition, but Google has the first mover advantage.
The current pattern seems to be that of an ascending triangle (which in general is a bullish pattern). However, I would wait till a breakout occurs before buying into it. If I want to take a really long position, I might buy when there is a slight pullback from the current levels where there is support from the hypotenuse of the ascending triangle.
However, the risk is that the FANG stocks trade at incredible valuations (high P/E; an indication of their future earning potential). Any big shock to the market is going to send these crashing down till the market reaches some kind of equilibrium as evidenced by the Facebook and the Cambridge Analytica incident. Happy trading!!!
Time to GOOGLE IT ? Price have been recently moving in consolidation. Resistance have become support. 1000 even number. 38.2% fib retracement support from the 2016 move. 61.8% fib retracement from the previous leg of the move. Long-term buying opportunity. RSI oversold with signs of divergence. Coppock curve confirms it heading north with divergence. Target fib extension Good Luck
GOOG: AlphaBet Nature of the Beast AlphaBet GOOG Nature of the Beast
This has been a disappointment since rallying from the 987 line.
It's a similar pattern to the one shown at the green arrow at
close to the same point in time as last year - a double top
followed by a decline to the top of the last earnings gap, then
followed by a 50% retracement of the previous rally and
multiple tests of the 904 line before it finally rallies 32% to
the 1186 high.
This time around the pattern is similar, with another 50%
retracement (of the previous rally from the 987 line to the
ATH) - but the lows at the 987 line have filled the last
earnings gap (to left of chart) where the last fractal held up
at 904, the top of the preceding earnings gap.
It can spend some time making multiple tests of the 987 line
where it's a buy again with stops under 980.
The S&P continues to move in its shadow.
But all is ultimately good whilst 987 holds.
Same for S&P and world markets too.