TQQQ Tech 3X levarged ETF LONGOn this 15 minute chart, TQQQ is in an anchored VWAP band and volume profile breakout.
Near to the end of the regular market, the RSI indicator ran from deep oversold. After hours,
NVDA reported a sizable earnings beat. The AI machine learning and backtesting indicator
forecasts and uptrend continuation. I will get call options targeting $58 for Friday's expiration.
This is a risky play, price trend could reverse and there could be no time left to recover from
that reversal. The rewards for the trade going right could easily exceed 100%.
TECL
QQQ Is it topping before a crash or setting up a correction?QQQ is on a weekly chart. Only the pundits, soothsayers and headline readership volume seekers
know for sure. Will not the upcoming elections prop things up? Buy in March April and May
and then go away? Is this spring coming up roses or instead dandelions?
AMZN's Cup and Handle forecasts bullish continuation LONGMZN on a daily chart is in the continuation phase of a cup and handle patter which started In
August 2022. Of the Magnificent 7, it has performed better than the rest with the exception of
NVDA. The cup and handle pattern suggests continuation to the price level of $ 200 which is
similar to the all-time high with 5- 8% added for inflation ( July and November 2021 in the
range of 187 ). On the reliability of a cup and handle pattern and that of a daily chart
compared with a lower time frame I will take long positions in AMZN in both AMZU EFT shares
and long dated call options for AMZN more or less ITM at $ 175.
HCP runs to earnings on March 4th LONGHCP is a computer infrastructure company. The December earnings were a 160% beat. Given the
quicky evolving AI supertrend, the earnings might be expected to be another big beat. However,
that could be baked into the price. However, the explosive volatility of the last trading session
say otherwise. I will take a long trade here and chase this stock. I see it as pulling out of a
pullback and continuing on higher time frames.
AMZN in a triangle pattern LONGAMZN on the 15 minute time frame is in a relative symmetrical triangle pattern. A volume
profile and intermediate term anchored VWAP are overlaid. They validate one another since
the POC line and the mean anchored VWAP line up. Price is below both of them. My forecast
is that price will rise and temporarily so sideways in the high volume and volatility zone
of VWAP / POC and then ascend higher as that tug o war is finalized. My long target for now
is 170.35 as the top boundary line of the high volume area of the VP. This is a good trade
for shares on margin to get some juice into the trade. I will instead take call options for
March 16th striking $ 172 for some leverage and beyond linear RIO. AMZN is good to go.
Admittedly, this is an early bird trade. I see the risk as minimal.
AAPL to verse to upside trending ? LONGAAPL on the 60 minute chart is compared on the superimposed indicator on its own scale the
RSI for a similar time frame. The chart shows that AAPL has sunk to its price level in the
pre-earnings period two weeks ago. At present, price and RSI are running in parallel and
RSI is a litle higher than price while on its own scale. Price is currently near to the running
SMA 200. When I see either price or relative strenth move higher. I will be a buyer. I am looking
for some green on the relative volume indicator to tip me off. I will be watching on a lower
time frame of 15-30 minutes to get a clean entry pay off the spread and get into profits
ASAP.
SPLK popped on earnings. Can it continue? SPLK had a very impressive beat on earnings and traders responded with buying pressure
to push price up more than 15%. The question now is whether SPLK can sustain the
new interest or will it fade or drop. My analysis is that best on the short term volume
profile compared with the longer term is that there was a lot of trading at the top as
new but late buyers competed with short sellers on price and so the price rise stalled.
As a result I see price consolidated here and suspect that short sellers will push price
down from here. I will have SPLK on watch for a stock short trade and put options as
it is apparent that traders overreacted to the earnings beat. Price is still above the
POC line on the stort term volume profile. Once it drops below, I will look for a short
entry on the 3-15 minute time frames.
FNGU- Technology Titans CounterTrend LONG on ReversalFNGU on the 4H chart is in a trend down within a parallel channel. The previous trend down
from the top of the channel to the bottom was 29% while the counter counter-trend up from
the bottom of channel to the top was 18% over 7 days. Presenly the trend down from the
upper channel is confirmed by the two RS lines near to the 50 level and the Awesome Oscillator
with a down going signal. Trade plan - I will trade FNGU short ( or FNGD long ) until it is at
the bottom of the channel. Upon reaching it and mindful of a fake breakdown. I will watch for
reversal signs on a lower TF and upon finding them in the MACD or Bollinger Bands or VWAP
bands I will close the trade and so long instead.
MRVL fell after earnings beat & recovery REVERSALMRVL a technology stock beholden to the ebbs and tides of both the general markets
and the leaders of the tech sector fell on a mild earnings beat this is to say traders were
disappointed and responded with a 16% sell off from the pre-earnings run up.
I see MRVL potentially suitable for a retracement of half of the 16%. On the 30- minute
chart using both pivots as well as near and intermediate volume profiles I have marked
out important levels upside from the current market. Accordinly, there are three targets
I will close 50% of the position at the first 30% at the second and the remaining 20% at the
third. I see this as an 8-10% overall profit in a swing trade of about a week duration. If
the tech sector recovers next week from this current week, the profit could well be higher.
ARK - Cathie Wood flagship ETF rising again LONGARKK double topped about July 19 and July 31st then downtrend until Fri Aug 18th,
On this past trading day, the technology market moved higher lead by TSLA and NVDA.
ARK reversed and started the retracement of the trend down. I see ARK targeting
45 in the mid Fibonacci levels and potentially beyond that to 47.8 being the base level
of the double top. The stop loss is the pivot low on Friday as ARKK awaits a momentum
boosting cross over the mean anchored VWAP. The two TF RS indicator shows the lower TF in
green well over the 50 levels with the high TF black line lagging.
The ZL MACD shows more confirmation. ARKK looks good to enter now. I will zoom from the 2H
to the 30 minutes to find an optimal entry. I may take a large stock position and supplement it
with a single put option for insurance against downside potential. I seek a 12-14 ROI on the
stock trade and some multiples of that on a 2 to 3 week put option.
QQQ pulled back to support for LONGWithout regard to market noise, newsand other rumblings on the 1H chart with
two sets of anchored VWAP bands overlaid QQQ hit the upper bands about
about July 19th. On the retracement of about 35%, price is now in the range of
the mean VWAP line of the short-duration anchored VWAP and the first upper
line of the longer duration anchored VWAP. IT is also slightly above the interval
volume profile's POC line. That is to say there is tripel support and confluence
My analysis is the QQQ will rise in the upcoming week. I will take a long trade
targeting 378 (40%) 386.5 ( 40%) and 392 (205) - I may take a position in SQQQ
call options for insurance and risk mitigation on the trade. I see a resumption of
the bull run for technology and this trade will test that vision.
AAPL Buy Long on Pullback?AAPL has been rock solid this year as illustrated by the daily chart. It is no
surprise that AAPL is Warren Buffets's biggest holding. The earnings were a
top line beat with revenue flat. New iPhone sales are off. The TSLA idea
of dropping price to boost demand and trying to maintain margins will
come into effect. The dip this week is remarkable given the range of those
red candles. Based on VWAP bands, AAPL is overbought and overvalued but
not badly so. Price has dropped under the longest moving average (HMA140)/
This is a small pullback I will use the opportunity to purchase a call option
striking over the money at $205 for mid-November as an intermediate
term veto that AAPL will march consistently higher. Because of this pullback
the options contract will be a bit cheaper and easier from which to achieve
a realized profit.
FNGU- the leaders of the pack will come back first LONGFNGU is triple leveraged ETF of the titans of the NASDAQ; I expect it to come back front
of volatility in the market quickly as its constituents are the leaders here. I hope to exploit this
for 10% before COB for the trading week in the next two days.. A volume profile and mean
anchored VWAP using metrics employed by institutions and those executing with blocks
of voume. Analysis and target levels are on the chart for pureposeful brevity. Trade on !
TQQQ reversal shows early tech market recovery LONGOn the 15 minute chart TQQQ took a dive down through some relative volume voids
shown on the volume profile into a double bottom also showing a transition from
high relative selling volume into some decent buying volume . I can conclude that TQQQ
is in early reversal and will head the other direction through the same volume void which
could allow for a rapid ascent. While I made profit on SQQQ today, for tomorrow I
aspire to make money on TQQQ. I love volatility just as I loved yo-yos as a kid many years
ago. The concept of converting kinetic energy into potential energy has analogies in the
markets - coiling to store momentum and the triggering to unleash it. The chart shows
pertinent levels of the trade plan. As a bottom feeding grinder I am looking for 4% of range for
tomorrow .
BULZ - Technology ETF ( AI revolution )LONGBULZ is a 3X leveraged version of the Cathie Wood ETFs. As shows on the
2H chart BULZ broke out of the fair value channel of the anchored VWAP bands
in bullish momentum Not a coincidence. In three months it has gained over 110%
or 35% per month compounded. The MACD indicator shows the lines peaking over
the histogram a cross of them is pending. The mass index indicator shows a signal
into the reversal zone and falling as if about to trigger. This is a VWAP breakout
at its best. It jumped 7 % in one day and now needs a pullback reset.
My trading plan is simple. I will watch for a pullback to the blue line one standard
deviation above the mean VWAP. I expect a bounce off that dynamic support. The trade
will be a long-duration one until the technology sector cools off. Any future pullbacks to
the blue VWAP will have an incremental add to the position. Any pops in price over the second
VWAP line above the mean ( a line not visible here) will be used to signal a sell of a portion
of the position. All in all, this will compound realized profits while underway.
UPST mid-term VIEW Pre Earning LONGUPST on the daily chart with 2022-2023 in range shows a downtrend of more than 70% and
now a round bottom reversal. The volume profile shows the high volumes of the high volume
area which is relatively thin and mostly below the current price. That is to say, UPST has a
lot of volume voids to fill on its way back to $162 . The Triple EMA ( 200,100,50) shows
a convergence over a long interval followed by the reversal and now divergence. The
MACD indicator is upgoing as are the trends of the dual RS lines of the RSI indicator. I see
this as a long swing trade or investment while UPST is awaiting earnings next month.
For targets, I plan the red lines generated by the volume profite and so $94 and $161.
UPST is on my current favorite stock list. My current holding includes an option striking $51
for 8/4. I will roll that option over about 8/2 to avoid time decay. Additionally,
I will buy another option striking $75 and expiring on 9/15 costing about $950 at the
market price with the bid/ask spread of about 4%. I expect the combined two call optins
will yield on average 5-7% per trading day and may hold them through the earnings period.
The only downside risk is that an earnings beat is somehow already priced into UPST
and that the momentum will decelerate and fade. Buying the contact cheap and out of
the money seeks to manage that risk.
Can AAOI continue a 400% trend up ?AAOI has trended up more than 450% since May 23th. The big question is can it continue?
The factors include:
1 Volume - volume is what causes price action. Here rising volumes above the running mean
suggest that there is plenty of volume support for price action.
2. Anchored VWAP analysis is that after a pullback in VWAP levels in mid June price has been
rising and crossing VWAP levels above it. This is essentially a VWAP breakout. Price is increasingly
overbought and overvalued and perhaps due for another correction.
3. RSI of both the lower and high time frames crossed 80 more than a week ago. Thus far
RSI is stable without any sign of falling into bearish divergence.
4. The MACD lines are parallel and well above the histogram. They are at about the 9 level.
Price reversed on June 20th into the pullback. This is when the lines were at 11.7. This reasonably suggests another pullback or correction when they rise again to 11.7
Given the above, I conclude that AAOI has upside room until divergence is seen or trading volumes change to net selling volume or price outright pivots down from a high.
Accordingly, I will take a long trade expecting to capture the end of this massive trend up.
BULZ- a 3X leveraged FANG ETF High Tight Bull FlagBULZ on the one hour chart is showing a high tight bull flag which typically heralds a bullish
continuation. The tight consolidation channel formed today at the POC line of the volume
profile. The zero-lag MACD shows the lines under the histogram and about to cross. The
histogram itself has dropped to a zero amplitude. The trigger for the bullish continuation is
price rises out of the regression channel and above the POC line. BULZ is a triple leveraged
ETF holding the FANG stocks including META, GOOG, AAPL, NVDA and all the others. BULZ
could spend another day consolidated and then run the remainder of the week. The 17% run
thus far could be repeated in the days to come mightful however of the leveraging.
I see this pullback as a great entry into a stock pattern that typically results in a resurgence
of bullish momentum. I have pasted onto the chart a little bit of a description of the
high tight bull flag patterns and their utility in trading when found.
TQQQ Trends heading toward US Elections and Black FridayI anticipate the elections to continue to exert downward pressure on TQQQ as forecasts predict an administration that is less business-friendly will take control, and begin legislating an environment that is less supportive of profits and rapid growth. I suspect a bear condition on TQQQ and the broader tech market to persist into the new year, and think short positions or inverse positions are likely the spot to be for the foreseeable future as it relates to tech.