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Topping

Stock Pricing Above Fundamentals Ahead of EarningsWeekly Chart: NYSE:ANET reports today after the close. The stock has a short-term topping formation that is nearly completed. The prior runs went speculative but then corrected. The top is similar to the previous peak and the depth of correction is likely to be similar. The stock has simply moved beyond fundamental levels. This is NOT likely to turn into a long-term top unless there is something substantially wrong with the company and its products. To become an intermediate-term top, it must have lower highs and lower lows. That is not in the chart at this time. Ideally, the stock needs to shift sideways to build a much stronger support level to sustain a longer-term uptrend. HFTs are in the mix and may gap the stock on earnings news.
NYSE:ANET
by MarthaStokesCMT-TechniTrader
Topping Pattern Ahead of Earnings: AAPLNASDAQ:AAPL needs to have a great earnings report on August 1st but it has a topping formation at the moment, after huge speculation from promoting something that is not yet proven to increase sales. You can't take hope to the bank. Speculation occurred as investors assumed that AI would sell more new iPhones in droves. This earnings report will reveal reality one way or another. There is a negative divergence between the price trend and accumulation/distribution suggesting there may have been quiet rotation against the retail speculation.
NASDAQ:AAPL
by MarthaStokesCMT-TechniTrader
GE Aerospace Needs to CorrectAfter many years of struggle due to the Banking Debacle of 2008, this venerable old company is finally showing strength again. Spinning off divisions to focus on and drive growth in the key businesses was exactly what was needed. NYSE:GE Aerospace is over-speculated now. The run up from the heavy accumulation during the last half of 2023 is too steep to sustain. Smaller funds have been driving it upward since March, causing the more volatile action recently. It had a small gap up on earnings this week but it still needs to correct, either down or sideways . It has the look of a stock with short-term topping risk at the moment, but extended sideways action could adjust out the overextended uptrend instead.
NYSE:GE
by MarthaStokesCMT-TechniTrader
TSLA Likely Started A Bear MarketI think in the last month we are beginning to see certain sectors of the market starting to crash, mostly technology sectors, like TSLA, AMD, NVDA, INTC,... You really don't have to be expert chart analyst to see that the whole stock market, especially technology sectors are extremely overvalued. It has never been anything like it, really for the past 90 years. The closest thing stock market has ever experienced I've warned with my previous ideas about what chart patterns are being printed on the major indexes like DJI and SPX. Both are in the stratosphere. Usually the first to finish the bull run are the big caps, from where money rotates into other sectors that are not that overvalued yet. I still expect the DJI to rise about 8% till finish so it does not mean that the whole stock market is bearish... TSLA probably is. It has reached beyond the full fib. extension over 6 year price range. It also made a standard top formation, where it makes new ath (Jan. '21), then have a first major profit take, makes another new ATH that is only slightly higher from previous one, then it starts a bear market. I will show examples later on on such tops. If it crashes into 600-700 area expect the price to retrace closely to 1k area, before the real crash began. Prices could eventually retest green rising trend line. I am not a financial advisor so non of this should be taken as a financial advise. NASDAQ:TSLA
NASDAQ:TSLA
by CR35
S&P 500: this short might just be the real one!The SP500 index seems to have topped @ 4476. Technical analysis points to a sharper correction this time around: - prices broke-out the long term bullish trendline - short-term SMAs form an intersection above traded price - short volumes are accelerating, as the daily range expands - the new top formation saw the lowest traded volumes, signaling an exhausted market and low buying interest at these levels. Next support should stand @ 4200 . Short positions till this point, at least, should be easy money. Below this level, more stops might get triggered. Looking forward to your thoughts! Trade smart!
CME_MINI:ES1!Short
by SpeakTrading
A Total Market continuation patternLooking at the Total US Stock Market (VTI), we can see an obvious arching formation to the Covid-crater rebound, like the decaying upward trajectory of a thrown ball. This trend is characterized by short intervals of consolidation followed by breakouts that exert less upward momentum than the prior breakout. Each of those consolidation phases knocks the rebound's trajectory down a notch, manifest as a lessening of its slope angle, as depicted above. If that pattern continues, this post presents a trend range we might see. Big picture, this arching over probably is not a prelude to an end-of-the-world crash but a gradual slope correction into a long-term trajectory matching the long-term pre-Covid slope. Since March 2020, the upward slope of the US market has been exceptionally steep, too steep to sustain. So the market has to correct and the pattern of consolidation followed by lesser breakouts seen above is a predictable necessary process of correcting the market into its less steep long-term trajectory (which I've shown in other ideas posted). The arch is 'the invisible hand' dialing back the post-Covid crater exuberance.
AMEX:VTILong
by iGoddard
1
Tesla : Ready to topAfter a slow period, Tesla is picking up speed again. Seems everyone was waiting the busy end of the week. For the EW count, price is looking to find the wave B top. Yesterday finished the small wave (b) as a double three corrective wave. Price action seems impulsive since. This would make the entire wave B a flat corrective wave. c waves in a flat are most commonly 61.8% or 161.8% of wave a. Since 161.8% would be at all time highs, 61.8% is preferred. Looking at where the 61.8% wave (c) ends, you'll see the 61.8% fib retracement of the drop from the top, wave A. This makes the 760 price level something to watch out for. Don't forget price action could get volatile with the witches on friday, ARK ready to release it's price target for Tesla and bond yields acting wild. A quick spike up could wake up an angry bear.
NASDAQ:TSLAShort
by jdemunter