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SQQQ is rising today LONG SQQQ trended down the last two days of last week and especially Friday as the technology stocks surged Yesterday had price consolidation and generally less trading volumes. I believe that SQQQ will bounce at this level. It is supported by a cross above the POC line of the volume profile. Under that line is the stop loss while the target is 17.95 at last week's pivot high The relative volume void above 17.3 suggests that price may have great movement once getting over that level. A confirmatory MACD line cross sets the reversal .
NASDAQ:SQQQLong
by AwesomeAvani
1
$DJI warnings signs but not all is darkGood Morning!!! Let's dissect a few things. The DJ:DJI is showing warning signs on the Weekly Chart: Money has been leaving. Harder to see on a daily so showing on weekly. RSI is also weak. Daily The DOW is trading under shorter term moving avgs. The RSI is at an important juncture, 50. $ flow almost under 0. ----------------------- There are some positives to the DJ:DJI : There is an Inverse head & shoulder pattern. Although this pattern is better @ calling lows. Of course, if it holds the 38.5k Support Level. 37.5k & 37k would be the next support areas before the retest of the MAJOR SUPPORT level, which is the old all time highs. Sell in May go away? Still bullish but weak spot for the average.
DJ:DJI
by ROYAL_OAK_INC
SPY correction continues & another earnings season begins SHORTSPY on a 120 minute chart uptrended from October into late March. A standard Fibonacci retracement for this trend down could take it down to the 475 range or about another 10%. Current price is under the daily SMA 50 ( blue line) at 495 and could continue to fall into the SMA 100 ( green line) which is confluent with the Fibonacci retracement level. Deep support of the daily SMA200 ( red line) representing more than a 50% retracement is at the 450 zone. Megacap technology earnings upcoming may lead the way down or cause a consolidation for a reversal. April will likely be a big red month. April showers bring May flowers?
AMEX:SPYShort
by AwesomeAvani
5
SPY falls out of its channel on geopolitical risk SHORTSPY on the 2H chart shows the past six months of trend. SPY has been in an ascending channel but fall out of the channel. Iran's ambition to retliate against Israel and the movement of US NAVY warships into the the Middle East raises concerrn as does "sticky inflation" and early earnings reports from big banks. On the chart, trend angle analysis suggests the SPY may be topping or correcting its ascend. The shorter VWAP line are more flat than the longest VWAP line. I see this as impetus to further implement my hedging strategy with conviction and discipline. I can easily appreciate that SPY could pullback to 490 ( the middle anchored VWAP line) and easily could pullback into 465 as a standard Fibonacci retracement. Obviously fundamentals can trump technicals. Geopolitical risk is significant can easily trump both of them. I find good cause to hedge with inverses of ETFs of the indices and inverse ETFs for technical stocks, and perhaps banks, financial stocks and bonds as a means to buffer any fall my long positions moving forward.
AMEX:SPYShort
by AwesomeAvani
Bearish Hedging Strategy LONG inverse ETFsThe idea is shown on this 120 minute. With the new sticky inflation data, the writing is on the wall. Likely the rate cut will be kicked down the time road. When is in consideration may be a rate hike in the meanwhile. Mortgage rates unchanged makes the banks suffer. Loan applications are down. Treasuries are being affected. So are tech stocks that have a growth perspective as a fundamental basis for anticipated futures growth propelling share price. This hedging idea is a way to survive or even thrive in a chaotic and volatile market environment and a means to treat an overload of bullish bias with an antidote of sorts.
AMEX:SOXSLong
by AwesomeAvani
RSI & Money Flow comparison to other time periodsMarkets may remain irrational for an extended period of time. This can happen even when data conflicts. For the moment on the daily TVC:DJI : RSI is weakening. $ Flow is lower, but it is stable. Buys slightly outpace the sells since Mid January. (Only weekly is shown here. Pls see our profile for more information) --------------------------------------------- Things change a bit when seen on weekly data. Daily they seem weak but weekly there's 2 things of importance. Weekly TVC:DJI RECENT indicators show that RSI & $ flow seem OKAY. Let's compare them to years past. Compared to 2021: RSI is lower $ FLOW same Compared to 2017 + 2018: Both indicators are MUCH LOWER! (makes sense as it takes a lot more $ to move things around as indices and prices are higher) Showing 2 previous examples, blue boxes) as no market is identical. But, seeing the past we may get enlightenment to PREPARE for any outcome that may ensue. AMEX:SDOW AMEX:UDOW
DJ:DJI
by ROYAL_OAK_INC
SDOW a Dow Shorting ETF Long from an Intermediate Term BottomSDOW has leveled off at a near-term bottom after a downtrend as confirmed by bullish divergence on the RSI and MACD while the price went sideways in consolidation. Volatility has contracted as have trading volumes. I see this as a buying opportunity with a stop loss of 20.5 below the low pivot in consolidation and the first target at 22 underneath a standard retracement with the final target at 25 in the area of the early November pivot high. A call option set at a strike of $22 expiring in 4-7 months is a supplement to the idea. I expect that interest rate fades or any lessening of geopolitical tensions may affect things throughout the trade and perhaps force trade management along the way. Overall, I have an expectation of 18% for the shares and about 100% for the call option.
AMEX:SDOWLong
by AwesomeAvani
DIA DOW ETF ShortDIA tracking the DOW widely in an ETF format on the two hour chart had a 7% rise in the past month which was widely followed in the investment media. I believe that it was a bull trap. In the past week price action has been sideways while the Stochastic RSI shows bearish divergence as does the zero lag MACD. Tradign Volumes has fallen off since burst of buying volume in mid and late November which pushed the price up 7%. In the past week, relative volatility has fallen off in general and now negative volatility exceeds positive. I believe that this is a top for the time being. A short position will be taken of 10 shares with a stop above the top at 363 The target is 342 just above the POC line, where high liquidity and volatility will return as long positions, would pile back in there and get a bounce or even a squeeze. This would be about a reward of 8 for a risk of 2, which seems reasonable. I will however take a 1/3 partial at 350 where the Fibonacci retracement comes into play. The SDOW ETF would be another way to play this idea.
AMEX:DIAShort
by AwesomeAvani
$DJI broke Head & shoulder & long term trend yesterdayDJ:DJI broke the head & Shoulder pattern on daily charts. However, the volume was not heavy. AMEX:DIA also broke the up trend from the bottom in 2022 SERIOUS DAMAGE has been done the last 30 days. We can get a bounce here BUT being Friday, not sure. --- The previous MONTHLY BEARISH moving avg crossover on the DJ:DJI happened in June 2008. We all know that year. The RSI in 2008 showed clear Negative Divergence & it formed a Doji (cross) at the top. 2008 bear > 14k - 7 = 50% CV bear market > 30k - 18K = 40% 2022 bear market > 36 - 28 = 22% --- Using AMEX:DIA as it resembles DJ:DJI pretty decently IF 2021 was the top, looking more & more likely as: RSI did not move strongly 2021 showing Negative Divergence AND the recent rally was SUPER WEAK! (wanted to see a stronger relative strength) But rates can now be dropped & they can come and save the day. Very likely scenario in 2024.
DJ:DJI
by ROYAL_OAK_INC
$DJI looking good but OMINOUS longer term pattern emergesGood Morning! Since the call on DJ:DJI , it has been up & adding some more today. Within 2 weeks AMEX:DIA is going to break down OR it will continue it's longer term up trend. Bulls like this current action. HOWEVER, there is an ominous pattern forming on longer term charts. A Rising Wedge pattern tends to be BEARISH. Not coincidental that the peak is very close to the all time highs on $DJI. (Not shown here, pls see profile for more info) Monthly AMEX:DIA has been trending inside it PERFECTLY! It's going 2b an interesting end of year Coincidentally, the pattern resolves in December.
DJ:DJI
by ROYAL_OAK_INC
Stocks still struggling - $SPX copying late 2021?The risk in #stocks is still not to the upside. Took a trade before this rally, but that's it, a trade, already done too. Lower low today, still expect to be positive for the day, but until we get some sort of reversal, the risk is still to downside. TVC:DJI AMEX:UDOW NASDAQ:NDX is trying to find a bottom but here's not best place. Very light support. CBOE:SPX looks weakest of the 3. We could very well be doing what happened in late 2021. One last hurrah & then kaput.
SP:SPX
by ROYAL_OAK_INC
SDOW a triple leveraged ETF shorts the DOWSDOW is shown here on a 30 minute chart current rising above a parallel descending channel which is within a longer trend of a downward-facing megaphone pattern where it is currently situated near the top of the megaphone. I have drawn the two trendlines onto the chart and added an RSI indicator. My plan is to take a short trade on SDOW by looking for an entry on the 5 minute time frame where the HA candles are red and the RSI has dropped below 50. I will set the stop loss above the resistance trendline while targeting the support trendline at the low of the pattern.
AMEX:SDOW
by AwesomeAvani
UDOW a triple leveraged ETF of the DOW indexUDOW is shown here on the 30-minute chart rising over the past month in an ascending parallel channel. The chart shows the price currently situated near to the bottom of the channel which is the support trendline drawn onto the chart with the resistance trendline as well. My trading plan is I will take a long trade of 50 shares with a stop loss immediately below the support trendline. I see a targets as $ 62 and $ 65 making for a very favorable reward for the risk taken. For the entry, I will use the 5- minute chart and enter when the HA candles are green and the RSI is above 50. I realize that the DOW has less volatility than the S & P or NASDAQ but with that is less overall risk of reversals and pullbacks. I tend to take higher-risk trades but see this as having a balancing effect in my overall portfolio.
AMEX:UDOW
by AwesomeAvani