IGV 70% UP ?IGV - Cup & Handle pattern + Above the average line 150. Only an idea and not a recommendation for trading
IGV
IGV THE BULL MARKET IS ENDING NOWThe chart posted is The IGV index aka the strong leader in the over all market I am now counting a ending 5 wave up I had hoped to see 96handle But TIMING is today from July TOP we are ending a 5 wave Diagonal I have moved to a 95 % LONG IN THE MONEY PUTS IN SPY JAN 2026 600 strike Best of trades WAVETIMER
Microsoft - the top is likely here!Microsoft saw a big green to red reversal today on heavy volume at the All time highs of the chart.
If this bell weather name is finally done trending higher it sure to weigh in on the indices even with the slightest pullback.
Mircosoft breakout on watch MSFT should lift this market higher if it holds above the breakout trendline.
We could see a big rally in to tech earnings if economics data comes in positive.
Microsoft Breakout?Often MSFT can lead the market.
If this stock is breaking out of a daily range it will likely help propel the indices and cloud stocks higher.
With the second largest company in the world showing technical strength, one has to sway slightly more bullish.
if this breakout fails than one can lean more bearish. As of now this is a bullish move for MSFT
Open short positions soon….Based on price action I believe the IGV will continue to fall as earnings approach and a continued risk of high inflation we could see some continued selling off of the IGV.
IGV $IGV iShares Expanded Tech Sector Initial ShortIGV $IGV iShares Expanded Tech Sector Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
ZScaler inside uptrend channel (Watching!)ZS has been behaving well inside the uptrend channel drawn. When we touch the upper part of the channel, we see a pullback to the lower segment line.
RSI analysis suggests, we have difficulty going above the 70 level, however, the chart remains bullish whenever the RSI has been over the 43 RSI. A break below 40 in the RSI would be short-term bearish. -----> conditional Bull
OBV has been trending upwards since the earnings gap-up we had May 29th. -----> Bull
50sma is lining up with the lower channel line, which could work as a support, and a buy entry with low risk.
APPS - breaking OUTAPPS is breaking out of its parallel channel; with a 10% move; while the technology keeps going down.
I have not seen any news that could create this move today.
Intraday volume has been above average by 70%. (tool being patented by Schwab)
RSI is oversold, but as we saw earlier, APPS doesn't mind reaching 90 level. Looking for a strong close today to enter a small position.
Fortinet at important supportWe are seeing confluence of support around $120 approximately.
Test 1: February high
Test 2: Bottom of gap
Test 3: 200sma
Risk Reward ratio is great, as we can set a stop below the 200sma.
RSI is still not oversold on such a drastic down movement.
Zoom zoomZoom Video Communications is making a really cool flag.
There is about 20% to get to all time highs. Projected moves aren't made to make a trading plan, but it certainly helps to have them on the background.
Heavily Short the $QQQ - I Believe Today's Move ReversesTomorrowNothing to be excited about with this rally. Same old empty promises by the administration, buy puts on the way up today and wait for the reversal tomorrow/end of week in my opinion.
Disclaimer: I take no responsibility for your losses. Trade at your own risk.
QQQ
SPX
IGV
