Technology to Energy RatioEverything is cyclical. Every asset has its own cycle eventually in its own time. From Crypto to Real estate and Technology.
I crossed compared the Energy sector to the Technology Sector. XLE/QQQ
Then overlaid the Technology Sector to the Energy Sector QQQ/XLE
As you can see there is many clues where one will always outperform the other.
You just have to hold these assets where one is gaining vs the other.
One asset will suck the liquidity of the other and visa versa until one completes the cycle then it repeats
Hard assets are primed for outperformance.
Happy Investing
NASDAQ 100 CFD
Tesla Just Had Its Worst 4Mo Red Combo. Nightmare, or a Chance?!Tesla's stock just had its worst week of 2023, plunging 16% on Elon Musk's earnings-call nightmare.
Tesla NASDAQ:TSLA shares plunged 16% over the five-day stretch ending October 20, as disappointing third-quarter earnings and a disastrous call led by CEO Elon Musk sparked a sell-off.
The nightmarish week wiped nearly $130 million off the EV maker's total market capitalization. while Musk's own personal fortune declined by around $30 billion, according to the Bloomberg Billionaires Index .
The stock is still up appr. 80% year-to-date, but has given up some of its gains over the past few months with the early-2023 hype around AI fading and investors starting to fret about the impact of higher interest rates.
Last Wednesday, on Oct 18, 2023 Tesla reported quarterly earnings that fell well short of Wall Street's expectations. The company posted adjusted earnings-per-share of $0.66, missing the consensus estimate of $0.74, and also underperformed analysts' revenue forecasts.
Musk then said in a post-earnings call that Tesla had likely "dug own grave with the Cybertruck" due to enormous production challenges, and warned of several economic headwinds that could drag on demand.
Tesla just had its worst 4-months Red Combo since June 2023, while Tesla stocks price fading after that within four months in a row, from July till October (in this time).
Sure we can call this performance like a "mini-disaster", but still it's too early to say that world's richest man became a "little baby" who is "fully in tears".
Meanwhile strong and powerful technical analysis says that the carmaker's hellish string isn't a bad one, while buyout things right here to come.
Tesla stocks were doing well in June 2023, where bearish hugs and weekly SMA (52) were broken, so I have to say, there is almost no hellish right here, just a technical confirmation of reversal that has happened several months ago in 2023.
Tech graph below is a long-term view, with further updates on monthly/ quarterly basis.
NASDAQ flashed a 13 years old BUY SIGNAL!Nasdaq (NDX) has completed a Bullish Cross between its 1W MA50 (blue trend-line) and 1W MA100 (green trend-line). Even though it's not a Golden Cross, on the 1W time-frame it attracts particular importance as the last time we saw this bullish signal was more than 13 years ago (February 08 2010) in the (sharp) recovery process after the 2008 Housing Crisis.
The fractals of that Crisis and the (current) 2022 Inflation Crisis are similar. Both hit the 0.9 Fibonacci retracement level and got the first major rejection since the Bear Market. The current wave is ongoing but in 2010 it approached the 0.618 Fib and rebounded strongly for nearly 1 year. On the current pull-back wave the 0.618 Fib is at 14000 and thi index already hit 14420.
Is it good enough to start the new recovery wave? It certainly is low enough to give us acceptable risk for the long-term, especially after the formation of a 13 year old bullish pattern. Based on the 2010 fractal, we may see new All Time Highs on Nasdaq in less than 6 months.
Are you buying on this signal?
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24102023 - #NDXYesterday I gave 2 sell limits (). I would say that the bulls probably won it but the 14760 short level still worked well as it hit and market pulled back over 100 points.
Overall, price action looks bullish, with what looked like a reversal candle on daily. Price, however, is still below the DBZ, thus need to be nimble on longs. However, IMO bond yields seemed to have topped (for now at least), thus we could get another leg up. Ideally, we want market to make a higher low (thus not discounting a possible down move first). No longs below PZ 14584, but if price dip to 14464 level, look for a possible bounce and that could bring price back up. Overall, looking for a long to 14776 and 14864, with a max upside of 14942.
NASDAQ MACD deciding the rebound.Nasdaq is having the strongest two day stretch since October 6th, turning around the 4H timeframe from vastly oversold to nearly neutral (RSI = 41.141, MACD = -139.060, ADX = 43.205). If the 4H MACD completes the Bullish Cross, it will be on the same low level as September 24th and August 21st, which where both Lows of the Falling Wedge pattern. If it fails to be formed, we will hold huying until the price reaches the LL trendline at the bottom of the Falling Wedge. In either scenario our target is the LH trendline of the Falling Wedge (TP = 15,150).
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NASDAQ Approaching the bottom of the Falling Wedge.Nasdaq is extending the decline it suffered at the top of the Falling Wedge pattern.
The Falling Support is the level to watch for buying and the price is within days from hitting it.
Trading Plan:
1. Buy when the price hits the Falling Support and the MACD (4h) makes a Bullish Cross.
Targets:
1. 15000 (slightly over the 0.618 Fibonacci).
Tips:
1. The MACD (4h) gave confirmed buy signals / Wedge bottoms after it formed a Bullish Cross. This is why we consider it a parameter for a buy.
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Notes:
Past trading plan:
S&P500 broke for the second time the 200 EMAS&P500 broke for the second time the 200 EMA
This time it seem serious with a VIX index above 20 and moving higher, and the S&P500 index on the right top of a huge double top.
High yield bonds, war risks and recession risk add fuel to this move.
Target for the double top is the area 2630-2525 in the long term.
Bullish scenario only above 4600. Worth to be 100% cash and 0% stocks right now and stay at the windows.
NASDAQ Approaching the bottom of the Falling Wedge.Nasdaq / US100 is trading inside a Falling Wedge, currently on the 3rd bearish leg of the pattern.
Be ready to buy when the 1day RSI touches 34.20 (Support A) and target 15100 (Falling Resistance).
The Sine Waves show an amazing symmetry between bullish and bearish legs.
Previous chart:
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We stopped being bull late Sept $DJI $SPX $NDXInverse Head & Shoulder Pattern on TVC:DJI is dissipating FAST.
(This pattern helps with bottoms)
🚨🚨🚨
It is GONE for CBOE:SPX , in fact, DANGER!!!
TVC:NDQ about to test support again. Could it be a double bottom or will it break through?
AGAIN, we stopped being on the BULL train in late Sept.
RISK is HIGH!!! VERY HIGH!!!
10Y & 30Y Yield losing more steamGOOD MORNING!
#interestrates look like they want to slow down a bit, short term top.
We see the 10Y & 30Y pulling back a bit...
But this is better seen intraday.
We'll see how that unfolds...
IF IT DOES, it could cause a sharp rise in #Stocks.
Coincidentally, DJ:DJI @ support & TVC:NDQ is near a major support.
TVC:TNX AMEX:DIA NASDAQ:QQQ
QQQ weekly consolidation confirmedQQQ weekly consolidation confirmed
Context:
weekly - downtrend (DT)
daily - uptrend (UT)
Last day:
Price broke previous week low, signaling start of weekly consolidation. Value is overlapping with the previous day.
Conclusion:
Market looks very bearish but there is an interesting nuance. Although weekly consolidation confirmed we're still in daily UT, which is a bit abnormal. Moreover, value has been moving down very reluctantly in the past 4 days. All these might be a sign that bulls are still somewhere undercover waiting for the right moment to kick-in. Important levels to watch is trend line support and last daily pullback low (353). If there are signs of reversal we can then witness a very nice shortcovering rally
Disclaimer
I don't give trading or investing advices, just sharing my thoughts
Citizens Financial Group. Possible Upside on Q3'23 Earnings CallBond pressure...
Pushing' down on me,
Pressing' down on you,
No man ask for...
Technical graph says that possible upside with NYSE:CFG stocks could be possible, with projected/ targeted line at 52W SMA.
With 6.20% dividends yield, double-digit operating yield and P/B just at 0.6, NYSE:CFG securities can be considered as quite undervalued.
The protection level can be considered as multi months (6-, 12-months) low.
#NASDAQ last chance --------------NASDAQ/NDX/USTECH100-------------
Amidst tensions there is one final hope indexes can turn around and continue their route to the upside instead of biting the dust. Now or never I would say. If current support levels don't hold price, nothing will and we will see more downside movement. Based on that I closed my hedge position and if it proves to be true that price cannot fall beyond these levels I would consider to add to long position.
This is not a financial advice, do your own research and analysis.
#NASDAQ to the upside------------NASDAQ/NQ/USTECH100-----------
I just went long on Nasdaq index and looking for further upside movement. From fundamental point of view I can say investors expect no more rate hike this year or in the near future. War news outside the US does not really affects this market. From technicals I can see a higher chance to go upside rather than downside at the moment. Weekly level can be the first target here (blue line).
This is not a financial advice, do your own research and analysis!
NASDAQ: Golden Cross and a Channel Up combined.Nasdaq formed a Golden Cross on the 4H timeframe today while turning bearish on the technical outlook (RSI = 40.347, MACD = 7.500, ADX = 49.160). This means that as it approaches the bottom of the Channel Up, it becomes an oversold buy opportunity. The former bullish wave targeted almost as high as the 2.0 Fibonacci extension. Our target this time is also a little lower (TP = 15,700).
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NASDAQ Best action plan for the short-term.Nasdaq (NDX) is trading on the 4H MA50 (blue trend-line), pulling back after a Lower High at the top of the Falling Wedge pattern. The formation that took it that high is a Channel Up which hasn't yet been invalidated. As a result we currently sit on a bullish short-term signal until broken, with a 15270 target (Lower Highs trend-line). If the price closes below the 0.5 Fibonacci retracement level, which would also be below the 4H MA100 (green trend-line), it will be a sell confirmation like that of September 19, and we will sell, targeting 14530.
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$DJI & $SPX leading, $NDX trails, but $RUT is shining!DJ:DJI is struggling here a bit but it looks okay, so far.
SP:SPX is in the same boat.
TVC:NDQ has been weaker recently but it moved the most out of the indices.
But look at this! TVC:RUT is shinning nicely today!
Looks like it wants to base here & maybe even move higher!
AMEX:DIA AMEX:SPY NASDAQ:QQQ AMEX:IWM #stocks
New week Nasdaq is still highHello everyone, Although the index price lacked positive momentum in recent trading, its general stability within the axes of the ascending channel, based on holding above the main support extending towards 14800.00, in addition to the formation of the 55 moving average for additional support with its position at 14945.00. This contributes to confirming the positive continuity for the upcoming trading.
The above invites us to wait for the price to accumulate positive momentum to enable it to form new ascending waves, thus reiterating the pressure on the obstacle extending towards 15530.00, and by surpassing it, it will succeed in reaching the additional stations, which may start from 15670.00 and 15870.00, respectively.
The general trend expected for today: bullish
Stocks went from pump to dump, what's in store?#stocks went from basing & curling higher to topping and rolling over.
DJ:DJI had 5 green candle days. It turned to 3 red days.
TVC:NDQ bounced nicely but it reversed the hardest and FAST.
CBOE:SPX is in between both indices,
CBOE:VIX had a GOOD day.
WARNING!!! The more it hangs around here the MORE DANGER equities are in.
Have a great week!!!