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SMTC

✏️ Weekly Report: Volatility makes Cash the King againGENERAL COMMENTS Today, the Federal Reserve maintained its interest rates unchanged, highlighting the ongoing challenges in curbing inflation. Initially, this announcement propelled the markets upwards, but a sharp downturn occurred in the final hour, leading to a decline as the day concluded. The erratic market behavior demonstrated today makes it increasingly challenging to maintain positions in momentum stocks, and the majority of this quarter's earnings reports have been underwhelming. This situation underscores the strategy that cash remains paramount, complemented by selective, quick trading opportunities, as depicted in the following charts. I will begin tonight's chart analysis with the Nasdaq-100 (QQQ). NASDAQ:QQQ The Qs are forming a bearish formation. What is worrying is that this is below the 50D Simple Moving average. As trading is a probabilities game, we can conclude that this leads to probabilities being lower that we continue to the downside. However, the direction of the general market indexes are very well influenced by the fundmental story of the economy health. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:SMTC SMTC is up $4 from the $33 Buy Point (alerted in previous versions of this idea - go and check. Believe and Follow). This peaked yesterday with about +20% profit since the alert last week. Of course the way I manage this is never to let this to turn into a loss. My general go to tool is to take half here. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:KLAC KLAC fell back to $687 after missing earnings. This of course stopped me out - but at no loss, since I move stopped up to break-even. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:SMCI The stock missed its earnings and suffered a severe reaction of a gap down and drop -20% on the intraday. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:NVDA NVDA slashed below the 50D SMA and this stopped me out. Waiting and watching this TML during its base building period. –––––––––––––––––––––––––––––––––––––––––––––––––––– NYSE:GS Up $7 from the $419 buy point with stop raised to $416 just in case. –––––––––––––––––––––––––––––––––––––––––––––––––––– NYSE:CRM CRM is prone to go lower if the market continues falling. A break below $266.50 is great place to short. –––––––––––––––––––––––––––––––––––––––––––––––––––– NYSE:LLY Gapped up on good earnings. The next technical buy point is $801 accommodated with heavy volume. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:MRNA Earnings are due out tomorrow. If earnings are good then zooming through the $116 on good volume is a great technical buy point
NASDAQ:QQQ
by SimplerSignals
✏️ Weekly Report: "Buy in May and Stay"?MARKET OVERVIEW The stocks had a good turnaround after a strong report from $NASDAQ:KLAC. NASDAQ:MSFT Also posted strong earnings! Could the famous saying "Sell in May and go away" turn to "Buy in May and Stay"? Lets review some charts. NASDAQ:QQQ The Qs snapped back after strong earnings. Now it looks like we are heading for the 50D SMA –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:KLAC Up $19 from the $687 buy point that I shared in previous idea ( see related ideas below ) –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:NVDA Mentioned it in previous idea ( see related ideas below ) before it skyrocketed $51. Could consider here or a little bit lower if it consolidates. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:SMTC Up $2 from the $33 buy point mentioned last week on the idea. Potential add point is the $35ish level. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:META We warned about META, what we are seeing is that buyers are stepping in on Friday and Thursday to support it. For the aggressive traders could play a snap back but personally, I would pass. –––––––––––––––––––––––––––––––––––––––––––––––––––– NASDAQ:MSFT MSFT snapped and squatted lower. Consolidation around the 50D SMA would present a good opportunity for a buy. Before that I would pass. –––––––––––––––––––––––––––––––––––––––––––––––––––– BINANCE:BTCUSDT Nothing to do on Bitcoin but wait during the base building period is over
NASDAQ:QQQLong
by SimplerSignals
NVIDIA - A Scenario Few Are Considering. Few. Few. Few.NVIDIA's price action last week was a historic event in the markets, and at a very strange time. Whenever you see such an outlier, it's time to perk up and really give a deep think to what's going on in the world at large. For me, I had long since anticipated NVIDIA would print a new ATH, but I did not believe it would do it until the markets at large had started to moon, which I stated in a March call, which turned out to be pretty accurate. NVDIA - Expect Sideways Until Bear Puts Expire Worthless The fact that a megacap could take out the November of 2021 highs before the Fed started hiking is extremely indicative of what's going on, namely that the indexes and the market at large are sure to follow. I've heard some pretty good theories that NVIDIA being able to do what it's done has a lot to do with Chinese Communist Party entities running a "boomerang" through Cayman Islands-based proxies that are shuffling liquidity through big enterprises like the US banks located in Hong Kong. NVIDIA also reportedly relies on Taiwan-based TSMC to make its processors, and right now, Taiwan is the springboard for the western globalist interests to attempt to take control of Mainland China when the CCP collapses in the upcoming future. The Party has recently stated that the mainland is scheduled to get hit up by 60 million new cases ***per week*** of the nouveau variant of the Omicron version of the Wuhan-originating Coronavirus Disease, and yet the Communist Party is not reporting any hard figures on case counts and death through the global faucets, and has not since Xi dropped the Zero COVID social credit scheme in January. And on top of that is the soon-to-be 24 year long persecution of Falun Dafa by Jiang Zemin and its Shanghai faction combining with the CCP itself, a persecution that targeted 100 million people and committed the unprecedented sin of live organ harvesting. The sin of the persecution is so enormous that once brought into the public eye, no matter who you are in this world, you'll be brought down as retribution for evil. So there's a lot to watch out for in geopolitical tensions, and a lot at play. The biggest thing right now is that the markets are set to pump to provide people with a new distraction as they try, once again, to get rich, and quick, instead of paying attention to what is important in life. Everyone is now convinced that NVIDIA is unshortable, and some are even looking for a mild pullback to go long on the "parabolic trend line." Frankly speaking, there's a lot of risk in buying ATHs when you're dealing with something governed by a clever MM, and if the Q2 ER scam doesn't convince you that NVIDIA's MM is clever, "Sorry, I don't have time to explain it to you." In making this call, I would like to say that NVIDIA going parabolic is pretty likely. I'd also like to say that some formation like this, which we saw on Sun Microsystems in the Dotcom bubble, is also pretty likely: If the Sun fractal is valid, then this call is invalid. How it would play out is kind of like what Boeing did in 2018-19: Or what BTC CME Futures has already done Meaning that shorting will remain extremely risky, but going long won't necessarily have any opportunities to meaningfully pay. However, if the MMS are intending to conduct a turtle soup into a three drives/three Indians pattern, you do actually have the opportunity to Shortgod the top, get long at the bottom, and collect an even bigger trade. What this would involve is that starting in June NVDIA begins to retrace, and if it were to be so, it would likely retrace with a consistency that is as good as selling volatility has been in the last 9 months. It would refill the May gap completely, and rebalance the unbalanced March gap, which coincides with the recent market structure's range equilibrium at $250 and the week of April 24's pivot. Many have said that the debt ceiling crisis being resolved by the Federal government often results in a stock market crash since the market has to absorb all the new TBonds that the Treasury has to issue to keep the government afloat. If you couple that with how the market didn't go down at all during the debt ceiling crisis itself, a bear impulse appears more and more likely. If it were to do this, NVIDIA would also never print a $1 trillion market capitalization despite being so close. NVDIA likely would quickly bounce at this point and then the target would be one standard deviation above the May high, coming in at $540, which would also take the psychological $500 level. Doing this will encourage and trap bears all the way down, and then slaughter bulls over $500. Doing this will slaughter the bulls that have already bought the top, and at present, the bears have literally all been killed. Projected time frame for this to happen would be something like a September bottom and the top would come in the middle of '24 with the next U.S. Presidential Election on the horizon. Of course, that assumes that the world remains in good enough shape to be stable in any way a year from now. I do not have conviction that this will be the case it will play out, but I wanted to post this theory because the timing, logic, and price action all support it strongly, and it's the one scenario that nobody is considering, which also happens to generate a lot of alpha if you can get on top of it.
NASDAQ:NVDA
by LordWrymouth
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