SOXL
SOXL Sell the Bear Market RallyNotice my custom MACD line crossing below both of its signal lines. Before, when It crossed above them, the price went up and there was a normal MACD cross there shortly after. I think now the price will go down to retest the lows of March, and possibly even go lower.
SOXL - BTFD Thank You CoronavirusMy custom "Fast MACD" (Yellow Line) line crossed above its two signal lines. I think the regular MACD (Aqua Line)crosses above its signal line soon as well. At the time of that cross, we should be seeing some recovery from this coronavirus in the markets. Semiconductor companies still have incredibly strong growth.
Semiconductors & Hashing-Rate Correlation StudyThere are long periods of positive correlation between average bitcoin hashingrate in gigahashes/second and performance of major semiconductor ETFs like SOXX and SMH
As hashing and computing power in general shows massive increases in demand there are only a few companies that have the materials and knowledge to produce 'rocks that think' aka processors and other computing components made of earth metals and silicone.
When I see big printing bars in hashing power but 'divergence' in correlation I may consider adding to semiconductor positions via options on semiconductor ETFs and computing component companies like INTC, AMD, NVDA, and the like as it means someone went out and made a huge investment in processing power in order to make a 'blip' on the hashing map but the ETFs are reflecting a downside move. This divergence between correlation of hashing rate and semiconductors displays a market inefficiency in the expectation for demand of semiconductors and actual demand for semiconductors. This divergence is an opportunity for us to capture in my estimation.
I hope this makes sense and helps your own analysis
Good luck have fun
Much Love
xoxo
snoop
Volume Profile Explains the recent horizontal channel$soxl $spy
Volume Profile Explains the recent horizontal channel
Crazy how that works huh?Price tested out of reversal pennant and skyrocketed, then backtested and bounced again. Out and waiting to get in on the next backrest... if there is one
Semiconductors - almost to the 5th wave down. LOAD UP on SOXSSemis swinging nicely in this range bound pitchfork. Volatility increase near the outer bounds, and we are almost there. Clear 5 wave count to conclude at the long term bullish trend line. This is my short term trade to the downside using SOXS 3x bear, and will reevaluate my next move when this target is hit. There's still a long term bull target on most indexes (including Semis) that has not been hit. I'm keeping that in the back of my mind, but for now staying bearish on this move. Ignore the time based fib if you want. I rarely use it, but it helps fit my narrative for now.
NQ - Sell Strength, Buy WeaknessDirectional Bias: Long
Price Target: 7150
Good Entry:6800-6820
Risk/Reward: Max Risk of 30 points/Potential Reward of 250-300 points
Closing below 6800 hourly candles invalidates.
Short SOXX (Semis has a lot more pain ahead)Short semis more for the pull back if there are any. At least 20-40% more downside ahead before really buying the dip.
SOXL start buying, save some money for 80s if they comeSome levels of interest. Caught this falling out of the diamond pattern.
Don't Underestimate the AMD Bounce Directional Bias: Long
Price Target: 22.5+
Good Entry: 19.5-20.3
Risk/Reward: Max Risk of 50 cents/Potential Reward of 2-3 dollars
A daily close below 19.3 invalidates the trade idea.
MU - Time to BounceDirectional Bias: Long
Price Target: 37-38
Good Entry: 34.3-35
Risk/Reward: Max Risk of $1 (trade idea invalidated below 34.3 15 min candle close)/ Potential Reward of $3+
Short then long, or average in a position.Semi conductors are not going anywhere, they just completed a huge run. Fell out of the wedge and I dont see this going below 80$ ever but I see it testing a couple spots below and breaking north .
AMD Long Directional Bias: Long
Price Target: 28.5
Good Entry: 26.8-27.2
Risk/Reward: $40 cents max stop/$1.3 reward
AMD Short Directional Bias: Short
Price Target: 27
Good Entry: 29.2-29.5
Risk/Reward: $50 cents max stop/$2 reward
SOXL 50/50 Well A multi year flag? A big move is coming, My gut has been telling me to Buy TVIX or UVXY and DRV as my gut is bearish, no doubt SEMI's are not going anywhere, but the overall Bull market run tells me we are due for a shocker sometime soon, DRV soon looks to be profitable.
amd winding up like a spring?$amd $soxx $soxl $soxs $nvda
I'd love to see AMD back at 9.70-9.90 for the ride back up. Has been a beautiful symmetrical/descending triangle. If it breaks out above in coming weeks/months, expect the price up to 17-19.. before descent back to test breakout level of sym. triangle.
Nasdaq RSI Divergence on DailyPublic Service Announcement... Just in case you didn't already see it.
