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IWM

$IBM 3-Weeks Tight PatternStodgy old NYSE:IBM has had quite a run over the last few months. I am sorry to say I have missed it. Earnings are now out of the way and as you can see, we have a 3-weeks tight pattern. It has recently been setting new 52 week highs as well. If you are a Wiiliam O’Neil follower, he states in his writings that a 3-weeks tight pattern can lead to some serious gains going forward. If you like you can read about it here: www.investors.com In any event, I have started a ½ half sized position here and have my stop just below the most recent low. Seems like a pretty good risk reward to me. But it’s all TBD. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking. For those wondering, the chart I am using is LevelUp right here on TV. You might want to research it, I find it helpful.
NYSE:IBMLong
by jaxdog
2
$SPX and Economic DataI do not know how long this has been available on @TradingView , but I just discovered it and wanted to make sure if you didn't know about it, I would bring it too your attention. On the SP:SPX chart at the bottom when economic data is going to be announced or recently announced, click on the "Flag" icon(s) to see what it is. For example, jobless claims, unemployment, CPI and a host of others. I hope this post helps someone. Great Tool TV! Okay, for some reason when I post this chart the flags did not show. But look at your own SP:SPX chart and you will see them.
SP:SPX
by jaxdog
SPY Correction Coming?Hello everyone! First two new charts for 2024. Another year another upside logic market. We're breaking ATH with continually decaying economic data, new banking troubles, new wars, and an election year and markets ignore it all. It's a Fed controlled market so mysterious!? Anyhow, in this chart I did a vague not so accurate EW that began Jan 2022 that bottomed in Oct 2022 which basically bounced off the Feb 2020 highs which pushed us into this new bull market. We finally broke the ATH for the S&P today with 5015ish, which makes me believe we should soon see a corrective wave hit. The first support will be early Jan support of 475. If this stays within this channel, we should see the correction over (C) at the same level as (2) of the bear market of 2022 which is March/April of 455ish giving us about a 10% correction. Now, this is all IF markets go as planned and there are no external factors influencing selling such as a larger scale geopolitical war, banking failures and so on. This is based off a market that is going at the current pace. That being said, I do see a major geopolitical event that will shake markets to their core but until then, we base our market moves on the Feds dovish nonsense. Technicals: - RSI, MACD are about peaked. - VIX is at critical levels
AMEX:SPY
by WorldEconomics
$AAPL Ready for Bottom Fishing?NASDAQ:AAPL I like how this is setting up. It looks like it has held the $180 “area” for a month now. It has had some good rallies from that area. I am looking for it to break above that steep blue downtrend line. It has captured the 5 DMA (white) and looks like it could take the 10 EMA too. All TBD. My plan is to go long on a break of the downtrend line with a stop just below that day’s low. If the market is going to move higher $APPL needs to participate, IMO. Of course, we must wait and see. The chart I am using is LevelUp available here on TV. Checking it out, I think you will like it as well as I do. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:AAPLLong
by jaxdog
2
$PFE Ready for Bottom Fishing?NYSE:PFE is certainly a dog but, it has put in a higher low and the moving averages are starting to turn up. I like to go bottom fishing occasionally. PFE is my new candidate. I have an alert set just above the current price where it may move above short-term resistance, around the thin blue line. If it triggers and I take this trade, I can put a stop close by at either the day low or the previous day’s low. All TBD. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NYSE:PFELong
by jaxdog
8
$ILMN Ready for a Base Break?Looking at this weekly chart it looks to me that sellers finally capitulated the week of November 13, 2023. Since then, it is mostly green accumulation, and it is holding price on lower and lower volume. You can see the flat base as identified with the LevelUp chart. I had a position earlier this week and stopped myself out for no gain. I re-entered today in anticipation of the breakout around $150. I like these early entries as I can set my stop just below the weekly low for a minimal risk to reward. It is one you may want on your watchlist. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:ILMNLong
by jaxdog
1
Opening (IRA): IWM April 19th 176 Monied Covered Call... for a 171.23 debit. Comments: Buying stock and selling the -75 call against to emulate the delta metrics of a 25 delta put. This setup gives me a slight bump in premium over selling the 25 delta put due to call IV skew, along with built-in position defense with the short call. Laddering out over time after flattening out at the end of the year. I'll naturally look to add in shorter duration if I can get in at strikes/cost basis below what I currently have on, but will probably continue laddering out to the end of the second quarter (June) for a bit here. Will generally look to take profit at 50% max; look to roll out the short call to reduce cost basis further should price traverse the short call strike (since extrinsic is highest in at-the-money strikes).
AMEX:IWMLong
by NaughtyPines
Russel 2000 WeakLet's take a look at the Russel 2000. This index seems to be the only one between the Dow, Nasdaq, and S&P that is failing to break to new ATH while they are. What we're seeing is a triple top/triple resistance in Aug 2022, than again February 2023, and again August 2023 which was confirmed with a break down to the lows of October 2023 before more manipulation came into play. Some will say inflation is declining and talks of rate cuts seems to be the reason markets rose, but from what we are hearing today from the Fed is that rate cuts aren't likely as they continue to backtrack and downplay rate cuts. Perhaps, they know something before we do... perhaps double peak inflation like the 1970s? Just as everyone believes its declining, surprising new data comes out that proves otherwise? Let's see. Once again we see the Russel 2K failed more recently to break and hold above 2020 with constant rejections. This would be the 4th rejection and we could be on the 5th rejection. And why not? Banks once again are starting to shake, with JPMorgan losing deposits, NY Community Bank failing, banks invested in CRE are tanking and this before the big ending to their Bank Term Funding Programme (BTFP) officially ending. Look at the chart for it, it spiked in March 2023 with the failure of SVB, and it is spiking once again Jan and Feb of 2024. Something coming down the pipelines? I shudder when I see markets breaking ATH, because it has ALWAYS meant markets are more vulnerable to bad news (be it financial, economical, or geopolitical). What we're witnessing is a market that is getting fundamentally weaker and weaker. The economy does not support equities hitting ATH, as earnings are revised lower, personal debt is $17 TRILLION dollars (an ATH) and personal savings are at an all time low. This is not including the decaying jobs market, retail, national debt, manufacturing, consumer sentiment and so on. The floor is a 1 centimeter sheet of ice and it's warming up. This bubble is poised to pop any moment now. My advice Obviously, be vigilant. If you are holding positions from a lower price point and you are making profit, I say hold until whatever event happens and breaks the glass floor. If you are new money looking to invest, I can not suggest investing now at the top with such toxic economy and financials. Do your own research, look at the economic data and see if any of it or at least majority of it gives you peace about investing. People are broke, debt is exploding so retail will inevitably collapse and since we're a retail based economy, you can imagine what comes next. Targets for Russel 2K - IWM 1) 1915, if we break that then 2) 1730, if we break that then 3) 1680, if we break that then 4) 1630, if we break that then run for the hills.
CME_MINI:RTY1!Short
by WorldEconomics
1
Opening (IRA): IWM March 15th 183 Monied Covered Call... for a 179.87 debit. Comments: Doing another one of these in March with a short call strike and cost basis better than what I currently have on at the 186. Selling the -75 delta call, buying a Johnny one lot to emulate a 25 delta short put in order to take advantage of call side IV skew. 3.13 max profit on BPE of 179.87; 1.74% ROC at max; .87% at 50% max. Will generally look to take profit at 50% max/roll out the short call to reduce cost basis further in the event price breaks the short call.
AMEX:IWMLong
by NaughtyPines
$BITO Ready to Run?AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low of day. I like the fact that it is trading above the IPO AVWAP which means that by volume most shareholders are in the money. That means there is little overhead resistance at this point. It is also trading above all the moving averages. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
AMEX:BITOLong
by jaxdog
5