$NVDA | WEEKLY WATCHLIST 9/20Watching the $209-214 for a dip buy that concludes wave 4. Looking for new all time highs to be made on the wave 5 move up. Waiting on the sidelines for that dip for now.
Goodluck!
TECH
$ROKU | WEEKLY WATCHLIST 9/20My top watch this week. Way too much confluence at these levels for me to ignore the setup. Looking like we are bottoming out to complete the large wave 4 at the 50% retracement. Also, a very tight falling wedge looking like it's on the verge of breakout. Please refer to the chart for more info.
Goodluck!
Wave Theory for $PLTRI believe that PLTR has been enduring a long-term accumulation phase, with an IH&S appearing on the daily time frame. Watching today's price action was very encouraging, with more-than-usual volume helping PLTR break through an important resistance level (marked in yellow). I'll be watching to see if PLTR can push to Wave 3, therefore validating the next step in long-term accumulation.
$GOOGL | WEEKLY WATCHLIST 9/13Watching the $2770 region as a prime spot for a relief bounce to buy the dip. Long term bullish channel that has controlled Google's price action since late 2020. Closed under the channel median on Friday, hinting at further weakness to come. News about potential violation of labor laws on Friday caused them to sell hard. Neutral-biased until we can reach strong support.
$AMZN | WEEKLY WATCHLIST 9/13Like AAPL, looking for a pullback before entering a long position again. As long as we hold under $3554, I will have a short-term bearish biased. Overall market weakness agrees with this as well. Buyable region that I'm looking for is the $3250-3350 for $3700+ target.
$AAPL | WEEKLY WATCHLIST 9/13Watching for a pullback and hold of the fibonacci retracement zone I have drawn out before going long again. If golden pocket (61.8-65%) doesn't hold here, looking for the 78.6% to hold at $147. That level also coincides near major uptrend support.
Snowflake, Inc. $SNOW reaches pattern target, partial exitSnowflake is a cloud computing-based data warehousing company based in Montana, named after the founders' love for winter sports. I like winter sports, and the ticker SNOW is aesthetically appealing in my portfolio.
The trade setup was straightforward. The company IPO'd in 2020 at $220, and after one quarter that saw investors take price up above $400 per share, all post-IPO gains were given back by mid-2021, and price got down to as low as $180.
Between March - July 2021, $SNOW formed an inverted Head and Shoulders bottom, reflected by the blue curved drawings - a left shoulder, a "head", and a right shoulder. Once price broke above the pattern boundary, I reached a measured target of $320 by applying the width of the pattern (from $180 to $250, or $70) to the breakout level of $250.
$70 + $250 = $320
This measurement criteria is based on the works of John Magee and Robert D. Edwards in Technical Analysis of Stock Trends (5th edition, 1948).
My stop-loss, the "Last Day Rule", and my limit order placement is based on teachings from my friend and active trading legend Peter L. Brandt (Diary of A Professional Commodity Trader, @PeterLBrandt).
I've now covered 3/4 of this position for a gain of 28% (70/250).
My maximum risk, assuming my stop loss order filled peacefully at its activation price was only 4% (10/250).
The risk to reward setup at the time of entry was then (4%) to 28%, or 1 to 7.
Snowflake is probably in line for further price gains, but I have no reason to believe I have an edge at these levels.
NQ - 15480 TargetThe unwind in Tech - slower than the ES/YM.
Typical, as the NQ volatility increases and we move
into EPS lower guidance and warnings (growing increasingly
abundant) the Big Tuna aka AAPL remains the guarded
Instrument.
157.50 Calls continue to print, in excess 1 Million, so they
will game it for all its worth as the ABCs of the widely held
continue to SELL.
Chopping along for now, the break of 15500 will set this in
motion quickly.
CRWD nice opportunityPrice broke out of a descending triangle
Now I am waiting for this small consolidation below 279 to resolve.
A break above 279 could push it to 283 and 288
Privacy Coin Zcash on the moveAnalysis:
-Strong EMA crossover.
-200 Day EMA retested, showed strong support (demand.)
-Fibonacci trend suggesting mid $200 range.
Visit @NeziahZcash on twitter for more info on zcash community building and info.
LABD break outI have been tackling LABD/LABU day in and day out. I have somehow made some profit week by week. I am trying to figure out which was the better trade as I think it has come to the tipping point. I believe LABD is the winner. I see bearish sentiment in the short term market and I see an inverse head and shoulders or a cup and handle formation. On LABU I confirmed it because whichever way I look at it it is the opposite, head and shoudler pattern, inverse cup and handle.
$KLIC $KLIC BOOM!?: Running w/ the semisSMH hitting a nice pivot today, most names look like they have blue sky territory like NVDA, MXL, ASML and now possibly KLIC? Sitting in the mid cap range, the market could see this semiconductor as the sweet spot given the Fed rate environment
$GOOGL | TRADE IDEAAnother prime short contender that can see nice downside potential IF market weakness accelerates. Simple longterm bullish channel that has held since last year. Notice every time we reach the red region, we see some sort of pullback either back to the median (white line) or support (green line). I have a small short position as a hedge to the overall bull market. Play cautiously and good luck out there!
$AMZN | TRADE IDEAWith markets looking really shaky into close today, Amazon looks like a prime contender for a pullback. Lines up nicely with the daily reversal candle and anticipated EWT wave 2 pullback. As long as the high holds here, expecting a move down to my fibonacci box zone shown. Be cautious if you're long.
$AAPL | WEEKLY WATCHLIST (Update)My target of $155 nearly hitting today! Congrats to all who played the upside move with me. Looking for a nice dip before entering for another push higher. Patience here.
Tech Stock SingularityThe Tech Stock Singularity will be the growth acceleration of tech stocks as technology accelerates development, but it will be far greater than the Dot-com bubble because artificial intelligence will demand more technology and resources to support its accelerating growth.
For example, Google makes its own chips and buys energy companies to support its growing cloud facilities. Eventually, Google might buy all of its supporting companies. Amazon buys planes, trucks and warehouses, and increasingly owns more real estate and more resources.
Demand will increase explosively when technology makes "babies" of new AI and each is trying to grow faster than the rest because the AI race is a game of win or die.
NQ - the Leader chokesSelling entered the TECH Complex ahead of the NYSE Open.
What could possibly go wrong now?
Powell hawkish.
Yields falling.
DX weakening.
All good for the band of Fankids.
One problem.... C H I N A.
One more squeeze, please.
Let's get into some stock trades #1 - SquareHas been consolidating for quite some time after a big move up. Clearly it's trend is still up with tons of upside left. Square is a pretty revolutionary company and it is definitely feeding of the banking sector. Not much to say about it other than the chart is looking great. Might take a little time to take off because of the way the chart is structured, but I doubt this huge consolidation is distribution and not re-accumulation
$TSLA | WEEKLY WATCHLISTTesla possible we put in a smaller degree wave 4 last week and consolidating for a final push higher to my $725 target. We should see a nice dip from there that will be very buyable. Expecting a major push upwards from there. As long as $695 holds, this count is valid!
$AMD | WEEKLY WATCHLISTBroke out of the bullish falling wedge pattern last week! Smaller ascending triangle formed end of the week and looking for continuation if we can break above! Very solid setup going into the week.
Tech Singularity = GOOGL SingularityThe upward trajectory of the Tech Singularity will be manifested in the stock price of GOOGL and it will rise higher and faster than humans can comprehend.
VMWARE MONTHLY AMAZING HEAD AND SHOULDERSVMware, Inc. is an American cloud computing and virtualization technology company headquartered in California. VMware was the first commercially successful company to virtualize the x86 architecture. Excellent bullish break of a head and shoulders on a monthly timeframe that can be used as an entry point on this asset.
