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IWM

SOFI - Post ER chart set upKey Levels: - Key Level of 6.75 - If key level can hold support my next resistance target is 6.9 then 7.25 followed by a push to 8 - If key level cannot hold support my next bounce area is 6.55 near the daily 50ema - Earnings Released with increased forecast and revenue numbers. - Broke 7 in AH, looking for another break of 7 for more upside tomorrow. - Small caps/growth stocks on fire right now, with ER out of the way we can see clear skies ahead for SOFI.
NASDAQ:SOFILong
by Cream4349
3
SPX Weekly review and forecast: August 1, 2022Last week, the markets saw a strong move to the upside with the SPX closing just shy of 4150 (4133). The move was largely fueled by FED chair Jerome Powell's comments, as well as strong earnings out of mega market cap stocks such as AAPL and AMZN. AMZN rallied +17.5% on the week and is up a whopping +32% from its low on June 13th. A similar story for AAPL, which is up +8.3% WoW and +25% since June 13. Joining the party, energy stocks like XOM reported very strong profits which vaulted the XLE higher. So far, the primary thesis of a bullish continuation being powered by energy (XLE) and technology (XLK) has come to fruition. The question, of course, is how long it will last - but first, a snapshot of last week's action: SPX: +5.2% Nasdaq: +6.8% Russell: +4.5% __________________ Technology (XLK): +7.5% Energy (XLE): +9% Financials (XLF): +3.9% Looking ahead to next week, the SPX is poised to retest the price zone between 4100 - 4200 which proved to be considerable resistance back on early June. The probabilities suggest some range bound action here, before the next major move. Needless to say, there's a chance that we could see a forceful continuation, and an even smaller chance of an outright rejection. Regardless, given the improving conditions, 4300 and 4400 are very much in play as potential upside targets heading into Q4. The expected moves for this week are +/- 81.30 (SPX), 8.81 (QQQ), 4.8 (IWM). The Nasdaq is clearly in the pole position for this rally, and is threatening to push back to 14,000, but with another busy week of earnings, as well as unemployment numbers, and more inflation data, there is still plenty of fuel to spark volatility (which has fallen off a cliff). Best of luck this week. If you found this helpful, please let me know!
FX:SPX500Long
by InnerMotionTrading
$SPY Mr. Market update and possible inflection pointMr. Market has had a nice rally from sub 400 to now trading 410 zone and right at the daily 100MA Could be a major inflection point as we head into next week and a lot of supply overhead now on what is basically a pump from Apple AMZN and a few other earnings as well as the result of net short option positioning , and lack of sellers "in the hole" . If you believe another major leg down is imminent, August - Sept seems likely as we now have had a decent bear market rally to accompany the thesis. If you believe we go higher, look for some nice consolidation now and even retracement before starting the next leg up Either way, I'd be careful adding longs here as the next weeks most likely involve downside or consolidation as this recent move up is digested. IMO it's low probability of going straight up higher, but not out of the question if we get major news on - Ukraine war, etc. Personally I've closed most my longs for decent / good profit and starting building shorts with mostly cash position right now. My lean is short / no trend here. Cheers : )
AMEX:SPYShort
by FriscoTrades
2
QQQ Nice breakoutTook QQQ 311C for tomorrow as discussed in yesterdays post. With AAPL AMZN after hours reaction, these calls gonna open up 300% tomorrow. Also took AMZN 130C for ER. i will be done at the open. There is going to be a lot of FOMO tomorrow in the markets. Make sure u sell into strength tomorrow. Bears might throw in the towel after these ER reactions and probably bulls who ever sidelined are going to chase as well. So better to take profits and wait for a pullback.
NASDAQ:QQQLong
by savage_Trader
IWM - Next Leg DownI started a hedge position by buying Sept 16 178 PUTS on July 21 st. I legged into the contracts throughout the day. Average cost 7.01 This was my first buy zone indicated by the first box. I might add a couple of contracts if it wedges up to the second green box, near the 184ish range. IWM looks to be repeating the same flag pattern it did before, indicated by the pink lines. Markets are still in a downward trend, making lower lows and lower highs, as indicated by the orange channel. Recent rally has been on declining volume. Profit takers are indicated by the blue lines. RSI near 60, which marked short-term tops.
AMEX:IWMShort
by jl360
3
QQQ near swing highsRight at last swing highs. SPY and IWM are already above these highs. Closed above these highs. QQQ right on it. Double top for now but Watch it tomorrow for either a confirmation of double top and pullback or a breakout over 308.55. We have AAPL AMZN reporting after hours tomorrow. We are right in the middle of congestion zone shown in the highlighted area. Generally whenever we enter into the congestion zone, there is a 80% chance we go to the other end of congestion zone. In this case around 312 - 314.60.
NASDAQ:QQQ
by savage_Trader
Looking ahead to next week in the S&P (July 25th, 2022)With things like housing statistics, employment data, and earnings from heavyweights such as GOOG, MSFT, and 3M, next week looks to be filled with potential market moving events. Most notably however is FED Chair Jerome Powell's press conference on Wednesday afternoon. While its no secret that we're headed into a world of higher interest rates, FED speak always has a tendency to move markets one way or another - but before we look ahead, here is a quick snapshot of last weeks action: S&P500: +2.3% Nasdaq: +3.3% Russell: +3.3% ------------------- Technology (XLK): +6.5% Energy (XLE): +4.5% Financials (XLF): +2.3% Heading into next week, SPY is looking at an expected move of +/- 9.8 on 24%IV ... (QQQ +/- 10.3, 32%IV; IWM +/- 5.6, 30%IV). SPY appears to be gaining steam on the shorter time frames (4HR, etc.), and I think the sectors driving the rally have more room to run, so my primary idea is for the rally to continue over the intermediate term. There may be some turbulence along the way, so perhaps a retest of the top of the previous range around 390 before ultimately heading toward 415. However, don't ignore the bonds. They have seen a solid rally off their lows in June. If momentum can continue, bond prices could accelerate up to 149"00, which would almost certainly lead to weakness in equities. Please note: these are not predictions - they are just my ideas about how I'm seeing the markets and are to help me formulate my own trades. If you find this helpful, please consider liking, commenting, following, boosting, baking cookies, setting me up with your single friends, blah blah blah blah...
AMEX:SPYLong
by InnerMotionTrading
3
Divide the SPX by the Producer Price Index = Wunderbar!Look at this investment roadmap between equities vs Gold and SIlver and their opposite correlation when inflation is running hot. If you divide the SPX by the PPI (producer price index) of goods and services you get an amazing chart. While PPI is elevated, the broad equity market has major headwinds outperforming PPI but Gold and Silver shine very well in this time period. The time to buy equities is when the broad market is outperforming PPI upon the "breakout" of these downtrends. Happy Investing!
SP:SPX
by AxeCapp