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$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
Bitcoin (BTC/USD) - Resistance and Support Levels - Weekly chartBitcoin (BTC/USD) price is uptrending and currently testing all-time high price levels, again in March 2024. Bitcoin price needs to break and hold above $70000 to continue the uptrend this year in 2024. Weekly Resistance pivot point levels are: $70000, $80693, $90000, $98690, and $116687. Weekly Support pivot point levels are: $60000, $52511, $40000, $34514, and $24329. Yellow lines represent Trendlines for either resistance or support. Orange lines represent price Pivot Points for either resistance or support. Weekly chart consists of nearly 11 years of Bitcoin price data (March 2013 to March 2024).
BITFINEX:BTCUSD
by NoFomoCharts
a daily price action after hour update - nasdaqGood evening and i hope you are well. Today bulls got another very strong day and either retested the highs or made new ones. ECB paused as expected but markets did not care one bit. Just bullish price action since EU open. Tomorrow more macroschmackro data which could lead to big spikes on a choppy week. I can not rule out market will interpret numbers bullish and we have another insane rally into the weekend. nasdaq bull case: Bulls had a strong bull trend day but made a lower high. After US close we broke out of the big wedge and if this get’s follow through, odds favor that this was just a bigger two legged move inside a big trading range. Bulls need to stay above the 1h 20ema around 18180 to keep btfd going and going for new highs tomorrow. bear case: If bears can generate good selling pressure here and trade below 18100, they might have a chance of bulls taking profits enough again to trade back below 18000. The after hours sell-off was strong enough to get a second leg and i still expect a bigger second leg after Tuesday’s sell-off short term: neutral until Fridays NFP - will probably keep ranging between 17830 - 18400 medium-long term: bearish but first market must form a credible top trade of the day: btfd. no reason to exit longs until US close
CME_MINI:MNQ1!
by priceactiontds
TSLA's triangle just broke—can it reclaim or will it slide?NASDAQ:TSLA reported quarterly earnings after hours. The initial reaction has been negative but that can sometimes change during the volatility that continues during the conference call and later the next few days. This post will not delve into the fundamentals as a some prior posts have done. After all, markets are presumably efficient and discount all new information very rapidly, and surely algorithimic programs have already processed the report and its ramifications for the future. So the following charts will look at technical analysis alone. From a technical perspective, TSLA had been in a large triangle that appears to be breaking over the last couple of weeks. This is true on both logarithmically scaled charts and linear / arithmetic charts. The log-scaled chart shows a somewhat bigger break so far than the linear scaled chart. Supplementary Chart A shows a logarithmically scaled chart of this triangle. Supplementary Chart A (Log) Supplementary Chart B (Linear) TSLA has been in an uptrend since its bear-market lows in early January 2023. But as prior posts have discussed, the next larger degree of trend is surely sideways, going back to the all-time highs. A simple box drawn around price on a monthly or weekly chart since even somewhat before the all-time highs shows this sideways range. Next, consider that since the all-time high was reached, TSLA retraced to its 61.8% Fibonacci retracement and failed on its first attempt at cracking that level as shown in the next chart. Supplementary Chart C (61.8% Fibonacci retracement) Furthermore, TSLA has struggled mightily at its all-time high anchored VWAP. At least six major breakout attempts above this VWAP have failed since TSLA formed its all-time high. See Supplemental Chart D below, showing the all-time-high VWAP in magenta. So have the failures to succeed in a break above this VWAP exhausted themselves so that next one or two will surely succeed as the bulls might want to argue? Or have the failures only reinforced the bears' case? Until price can recover this $234 area, it's tough to be bullish on TSLA. Supplementary Chart D More recent anchored VWAPs also make the bull case difficult to see for the time being. These are shown in the next supplementary chart. The key levels from these VWAPs are $241.72 and $214.62. Supplementary Chart E (Other Major VWAPs) And price hasn't been able to poke a head above the YTD anchored VWAP either the last 3 weeks as shown in Supplementary Chart F. Supplementary Chart F (YTD VWAP) Finally, consider that the major 61.8% Fibonacci retracement of the current uptrend from January 2023 lies at $177.25. This is an all-important support level for bulls who think TSLA is merely consolidating its uptrend from January 2023 lows. Supplementary Chart G (Another 61.8% Fibonacci retracement from the January 2023 lows to July 2023 highs) These technicals don't present a trade idea or attempt to reinforce a bear or bull case for anyone who is so positioned. But it does attempt to read the technical landscape as it now stands, without any sort of bullish or bearish bias from fundamentals or macro environment. The overall case isn't bullish until key levels can be recovered. Until then, lows might be tested if price can't quickly find its way back into the consolidative safety of the triangle shown. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
NASDAQ:TSLA
by SquishTrade
9
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
QQQ to $392Trading Pattern QQQ has formed an ascending channel which may prove to be very lucrative for derivative trading. Utilizing Elliott Impulse and Correction Waves within the support and resistance lines, Wave 4 may dip as low as $392 which is a few dollars shy of a 61.8% Fibonacci retracement level. Technical Indicators A bearish RSI divergence has been present since the share price surpassed $400; the RSI highs retain a negative slope while the share price highs have a positive slope (both reflected in yellow). This supports the Elliott Wave Theory and ascending channel pattern as the share price is currently at, or soon approaching, the crest of Wave 3 as well as the ascending channel resistance line. QQQ may experience a slight bump upwards indicated by the RSI line (green) which appears to be close to crossing the MA line (red) from beneath. However, due to its close proximity to overbought territory, I believe selling pressure will begin soon after as might be indicated by the MACD. The MACD technical indicator shows a tightly wound MACD line (green) and Signal line (red). The MACD line is within dangerous territory of crossing its Signal line from above which is a bearish indicator and suggests an increase in selling pressure followed by a correction in share value.
NASDAQ:QQQShort
by Shepherd_Investor
6
$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
QQQ A Fall Expected! SELL! My dear friends, QQQ looks like it will make a good move, and here are the details: The market is trading on 436.74 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 426.12 Recommended Stop Loss - 441.83 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
NASDAQ:QQQShort
by AnabelSignals
1
US-Market SentimentUS Market Sentiment and Swing-Trading Considerations - NASDAQ Heatmap Color-Coded Performance Indicators: Green Boxes: Represent stocks that have had positive performance over the past week. The intensity of the green color indicates the level of positive performance, with darker greens showing stronger gains. Red Boxes: Represent stocks that have experienced negative performance. Similarly, darker reds show larger declines. Sector Analysis: Technology Services: Companies like NASDAQ:MSFT (Microsoft) and NASDAQ:GOOG (Alphabet) show moderate gains, suggesting a positive sentiment in the technology services sector. Electronic Technology: A mixed view with significant gains by NASDAQ:NVDA (NVIDIA Corporation) but a slight decline in NASDAQ:AAPL (Apple) indicating a divergence in performance within this sector. Retail Trade: NASDAQ:AMZN (Amazon.com Inc) shows a strong performance, which is a positive sign for the e-commerce space within retail. However, PDD and MELI experienced notable declines. Health Technology: Mostly green with strong performances from companies like AZN, indicating good momentum in this sector. Consumer Durables: NASDAQ:TSLA (Tesla Motors, Inc.) is down significantly, which could suggest a potential concern for the electric vehicle or broader consumer durables market. Consumer Non-Durables: A mix of performance, though PEP is up, which might indicate stability in consumer staples. Notable Stock Movements: NVDA: The strong gain suggests investor confidence or positive news related to the semiconductor industry or the company specifically. ADBE: The notable decline could be due to earnings reports, market sentiment, or sector-related news impacting software companies. AMZN: A substantial increase like this could be driven by positive earnings, favorable market news, or successful business ventures. TSLA: A sharp decline may be the result of negative press, disappointing earnings, or adverse industry developments. Market Sentiment: The overall market sentiment can be gauged by the balance of green to red. In this heatmap, green appears more prevalent in larger squares (representing larger companies by market cap), suggesting a cautiously optimistic sentiment among major players. Considerations for Swing Trading: Momentum Stocks: Stocks like AMZN and NVDA with strong positive momentum could be considered for a swing trade, following Minervini’s principle of trading in sync with the market trend. Volume and Price Action: Before making trading decisions, it's important to analyze the volume and price action for confirmation of the trends suggested by the heatmap. Potential Reversals: Stocks like TSLA and ADBE that have experienced significant drops might be scrutinized for potential reversals if they approach technical support levels. Final Thoughts: This heatmap is a snapshot and does not provide the granularity needed to make a final trading decision. It is a starting point for identifying potential stocks to trade. A trader following Minervini’s methodology would look for specific technical setups, such as tight price consolidation, relative strength, and trading volume, among other factors, before entering a trade. It's also important to consider that the heatmap shows past performance, which is not always indicative of future results. Each potential trade should be evaluated in the context of current market conditions, news, and comprehensive technical analysis.
NASDAQ:QQQ
by JS_TechTrading
Opening (IRA): QQQ April 19th 405 Monied Covered Call... for a 397.94 debit. Comments: Re-establishing here in the Q's with a +25 delta monied covered call to take advantage of call side skew. Will look to add at intervals, dispersing risk across expiries, and generally take profit at 50% max and/or roll out the short call on test. Metrics: Max Profit: 7.06 ($706) ROC %-age at Max/50% Max: 1.77% at max; .89 at 50% max Break Even/Cost Basis: 397.94 Delta/Theta: 25.42/11.42
NASDAQ:QQQLong
by NaughtyPines
2