SMH - Inverse H&SSMH has formed an Inverse Head and Shoulders Pattern. Looking for a bounce to 169-170 if it can close above the neck line. Trading this with SOXL if pattern confirms.
SMH
$SMH Cup & Handle PatternWait for a pull back to the blue trend line before buying. A close below and the pattern fails. Best moves come from failed moves.
Cup & Handle Pattern The NASDAQ:SMH (Semiconductor ETF) is exhibiting a Cup & Handle pattern in technical analysis. This bullish continuation pattern involves a rounded bottom (cup) followed by a consolidation period (handle). Investors often anticipate an upward breakout after the handle formation, suggesting potential positive price movement in semiconductor stocks.
Has Nvidia finally topped?NVDA just put in a weekly bearish engulfing candle!
This is the first sing of a leading Mega Cap potentially seeing some distribution.
If this bell weather names keeps falling its going to turn the sentiment in the semiconductors slightly more bearish and will weigh in on the QQQ.
SMH ELLIOT WAVE STRUCTURE WAVE 5 of 3 ended165.5The chart posted can now be posted and the ew labeling we have now ended or will end wave 5 of 5 of wave 3 top and begin a sharp drop in thr sox and smh back down for a week or more in wave 4 of 5 of 5 then The last wave up will end the rally from oct 13 th 2022 in super cycle degree and we will then see a drop back to .382 to 50 % from 2009 once more in wave A of the super cycle bear POINT for reference see 1998 to 2000 Internet BUBBLE A.I Bubble
Markets Hitting FOMOThe major indices have outperformed over the last couple weeks.
Shorts and put skews are at all time lows.
No downside protection is being bought at this time.
Are stocks going to the moon again?
Nvidia Earnings tomorrow! Place your betsNvidia made a new all time high today.
We will see if it can continue beating its revenue 20% Quarter over quarter.
Resistance & Support is clear.
$MCHP Ready to Break Downtrend?NASDAQ:MCHP is heavy into automotive chips along with many other industries as well. When looking at the chart I see that we have a longer-term double bottom formation that put into play an Undercut and Rally on Nov 2nd, which was the earnings date. That is technically still in play.
It looks like it will break out of the downtrend line today where I have an alert. I like the accumulation volume before and after earnings. NASDAQ:MCHP has regained the faster moving averages but is still below the 50 DMA in red and the 40-week MA in white. The MACD turned up just 3 days ago.
Lastly, NASDAQ:MCHP has either been reiterated or upgraded to either “Buy” or “Outperform” by at least 4 different analysts in the last few days. The average price target is $101.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
SOXL - Falling Trend Channel [MID-TERM]💡 Pattern: Falling Wedge
💡 RSI: 57 Neutral
💡 Risk: Extreme
✅ Resistance: 28.4
✅ Support: 22
PERFORMANCE
🔴 ST: NEGATIVE
🟢 MT: POSITIVE
🟢 LT: POSITIVE
*ST: Short-term | MT: Mid-term | LT: Long-term
Verify it first and believe later.
WavePoint ❤️
$ON: The EV downside is already priced in.$ON:1D
With the earnings forecast providing downside price pressure on the longterm trend, NASDAQ:ON hits the lowest level on its1D RSI in over two years.
Needless to say, our trend has been weakened from a Pearson’s R^2 of 0.91 down to a Pearson’s R^2 of 0.88 while losing a little more than 3% of the longterm trend strength in the process.
While there are significant headwinds facing the EV market at current, from supply constraint’s on graphite to scaling EV’s across our shaky electrical grid system, it seems as though NASDAQ:ON has those concerns ‘overly priced in’ and could be poised for a rebound along with the broader semi-conductor market.
I would expect NASDAQ:ON to make an attempt at coming ‘back in line’ with its long term trend and to make a move up to the lower 3rd standard deviation line at 76.49 and possibly higher before year’s end.
Not financial advice. All stocks can go to zero.
$SMH Cup & Handle Pattern ### Technical Analysis Overview: VanEck Vectors Semiconductor ETF ( NASDAQ:SMH ) – Cup & Handle Formation on Weekly Chart
The VanEck Vectors Semiconductor ETF ( NASDAQ:SMH ), which tracks the performance of the semiconductor sector, is currently exhibiting a classic Cup & Handle pattern on its weekly chart. This pattern is a significant indicator in technical analysis, often suggesting a potential bullish continuation.
#### Understanding the Cup & Handle Pattern
The Cup & Handle is a bullish chart pattern that typically forms during an uptrend and is indicative of a period of consolidation followed by a potential breakout. It consists of two main parts:
1. **The Cup**: This part of the pattern represents a period of consolidation, starting with a gradual decline in price, followed by a bottoming out and a recovery back to the starting level. The cup should have a rounded or "U" shape, indicating a stabilization of price after a downturn.
2. **The Handle**: After the formation of the cup, a slight downward drift in price forms the handle. This is usually a smaller retracement and does not fall deep into the cup. The handle can be seen as a bullish flag or pennant and represents a final consolidation or a shakeout of less committed traders before a potential upward breakout.
#### Implications for NASDAQ:SMH
For NASDAQ:SMH , the emergence of the Cup & Handle pattern is an encouraging sign for bullish investors. It suggests that after enduring a period of correction and consolidation, the ETF might be preparing for a continuation of its previous upward trend.
#### Key Aspects to Monitor
- **Breakout Point**: The critical level to watch is the resistance line formed at the top of the cup. A strong move above this level, preferably with increasing trading volume, could signal the continuation of the bullish trend.
- **Handle Formation**: The depth and duration of the handle are crucial. It should be relatively shallow compared to the cup and show signs of stabilizing or minor retracement.
- **Volume Analysis**: An authentic breakout is typically accompanied by a surge in trading volume, providing additional confirmation of the pattern’s validity.
#### Trading Considerations
Investors considering positions in NASDAQ:SMH should closely observe the completion of the handle and the subsequent price action. A breakout above the rim of the cup could present a potential entry point for a long position, while a decline below the handle might necessitate a reassessment of the bullish outlook.
It is important to remember that while the Cup & Handle pattern is a powerful tool in technical analysis, it should be considered in conjunction with other indicators and market fundamentals to make well-rounded investment decisions.
$SMCI Ready for Flat Base Breakout?I have an alert set on that resistance line where I’ll look to go long if the market also looks good. There is a big gap from Aug 9 that I think can be filled. However, there is also some resistance apparent around $297 looking back at the 2 big red bars. It looks to me that NASDAQ:SMCI found support at the All Time High AVWAP. See notations on chart.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
8 DAYS OF UPSIDE IN S&P 500!Markets have had an extraordinary move to the upside with 8 days of consecutive gains and 9 days in the QQQ.
Semiconductors often lead the market and have now hit major resistance.
Microsoft has almost completed its bullish move.
Opening (IRA): SMH January 19th 120 Short Put... for a 1.30 credit.
Comments: Adding another rung to my SMH position out in January at a strike better than what I have on in December at the 125, targeting the <16 delta strike paying around 1% of the strike price in credit.
Opening (IRA): SMH January 19th 115 Short Put... for a 1.27 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the underlying. I currently have a December 125 and January 120, so this is at a better strike than what I currently have on.
Opening (IRA): SMH December 15th 125 Short Put... for a 1.55 credit.
Comments: Adding a rung out in December to my SMH position, targeting the <16 strike paying around 1% of the strike price in credit to emulate collar cost averaging into the underlying.
Opening (IRA): SMH Dec 15th/Jan 19th 112.5 Short PutsComments: Adding in at strikes better than what I currently have on (which seems to be a recent theme), targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
VIX WARNING RALLY is SHORT COVERING SQUEEZE like I said The chart posted is the VIX of the VIX the VVIX has the cycle which I stated on monday and friday last week a short squeeze is now setup as the13.8 to 15.2 week decline would see a sharp rally. And that the IYT RSP BA and TNX were making a ending of a 5WAVES pattern we are only going to see an ABC rally and the last 5 days have been wave A so CAUTION I think the wave strurture in TLT is that of a wave 4 it should not get above 88.3 if that is the correct count then we will see a print of 81.5 to 79.6 and the VIX will be well into 29.6 to 38 so take any profits NOW
SMH | InformativeNASDAQ:SMH
If the ETF surpasses the bullish line situated approximately at $150.69:
Bullish Target Price 1: It seems that $152.30 is the immediate resistance, given the previous price reactions around this level.
Bullish Target Price 2: If it clears the aforementioned level, the next potential target could be $154.05.
If the ETF drops below the bearish line at $149.98:
Bearish Target Price 1: $148.20, based on the support line drawn.
Bearish Target Price 2: $146.65 seems to be the next level of support.
Bearish Target Price 3: The support appears to further deepen around $143.35.
Bearish Target Price 4: If the decline continues, $139.76 might act as a significant support given the volume profiles indicated.
AMD 3-2 up on the week, potential PMG Outside week (once a 3 always a 3), follow through with a 2 up on the weekly.
Pivot Machine Gun (PMG) potential up North.
As long as it's green on the week, month and quarter Long it is.
Beware: green, but still inside (1) on the month and quarter.
Shooting for 120-130 area towards the end of the year, let's see how it plays out.
Opening (IRA): SMH November 17th 130 Short Put... for a 1.32 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor ETF.
I have no current position on in SMH, so will look to add at intervals should IV remain decent (it's currently at 28.7%, but at the low end of its 52-week range).
Opening (IRA): SMH November 17th 125 Short Put... for a 1.26 credit.
Comments: Targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the semiconductor exchange-traded fund. Here, I'm adding a rung at a better strike in the November monthly than what I currently have on.
AVGO and SOXS Preparing to Move BigSOXS the 3x Inverse ETF for Semiconductors, has broken out of a Bullish Head and Shoulders and now sits at the 89EMA. If things go as expected, SOXS should be clear to at least give us a 60-150% rally. At the same time, we also have a Bearish AB=CD on AVGO and what looks to simply be filling of a gap it made at $830 after breaking below its own slanted Bearish Head and Shoulders neckline as seen here:
If things go as I expect them to, we will see AVGO open the week to aggressive downside with minimum overall targets as deep as 50% below current prices.
#SMH Looks like a Double Top...smells like a double top
walks like a double top
#SMDH
Goblin town given time is the destination.
