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NASDAQ Pullback?The weekly chart of the Nasdaq index is showing weakness with multiple weekly candle rejections at exactly the 1.618 fibonacci extension level. This is key to note as the 1.618 as many know is often the first place traders short, sell and or take profits after price breaks all time high. So paying attention to the $180 level will be important. If bulls can ever get a weekly close above this level, the run up can continue. Until then, proceed with caution this week and probably the next if your portfolio is very tech stock heavy.
NASDAQ:NDAQShort
by TradeVibez
Trump thinks his daughter is HOT, and I am SHORT on SPX Dar_klords Daily Update Ticker: SPX Rating: Sell Short Driver 1: The white dotted lines on the chart represent the two current major levels of resistance. Both of which are supported by a double bottom. Driver 2: The pink line shows us another double top, also a bearish signal. Driver 3: The green line shows us a critical point in the True Strength Indicator. I would make the argument that a move breaking that green line on the downside could send the index Driver 4: The solid white lines show us where a descending triangle is printed. A break resistance in solid white would most definitely lead to the formation of a cup to the last and largest driver Driver 5: Large cup and handle on the downside. If a handle prints as a result of a break on the descending triangle we will most definitely see new lows. Why is this a critical point in the market? Well first off the PE 10 (Market multiple price to earnings ratio) is trading at around 32. This shows us that the market is overvalued equities. In fact the last time we saw market multiples of this level was around 1995 during the dot com bubble. The Tax Cuts and Jobs Act has overheated the equity's market through over optimistic investor sentiment, share buybacks, and ultimately tax deduction reliant balance sheets. That’s all for now, I will update throughout the day for you plebeians This baby's going down -Dar_klord P.S suck my balls SPX
SP:SPXShort
by I_I_I_I_I_I_I_I_I_I_I_I_I_I_I
SPX: Market Crash or Bargain Hunting?Volatility is back bitches. We have seen more 1% swings since the beginning of 2018 than we saw all of last year! While that may be scurry if ur managing portfolios, its exactly what I love to see. More swings, more opportunitys, more trades, more profit. But lets jump into the chart shall we. The big thing we see here is a big PHAT double top. And whenever we get a sloppy toppy you know what we do. Its time to short to the neckline (In green). Additionally, we just broke down another bear flag. Looking for a 2% upside with a stop loss around 1%. If we see the double bottom its very likely we rebound and continue the bull market unless we see a catalysts. But hey, from how these past two weeks have been, I wouldn't rule anything out. Until next time, Happy Trading
SP:SPXShort
by I_I_I_I_I_I_I_I_I_I_I_I_I_I_I
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