UPRO has formed an interesting formation, but has bottomed along the long term uptrend in green This also aligns with 0.786 fib Bullish
Amazon is going down, it's no longer a major allocation for me. The next real support is 35% lower.
In this analysis, I used several leading indicators - commitment of traders index (CFTS), insiders (Form 4 SEC ) and the greed and fear index (CNN Business). In commitment of traders index I period 19 - it's a middle of 13 (quarter) and 26 (half year). In practice, it is this period that provides the best results (not only on sp500, but also on other...
All points to me suggest 1st leg above 4600 (higher high) is over now a retest of a lower high? Market may make higher highs but I'm neutral. Commodities peaking? utilities rising stage 4 or 5 possible.
UPRO chart is based on 2 hour timeframe Downward trend MACD signal indicated on 3/30 Potential of 15% downside This is not financial advice Caviot Emptor
Let me just put it out there, 4654. If we hold there, we have a solid chance of heading towards 4705. Below and it's 4550. That's how I see it. How I or you play it (i.e. short or long) will be dependent upon market conditions. There are no absolutes, but if you know the levels where prices can react, you are that much further ahead of the game. Dave
Seems as good a time as any to jump in again, but maybe it'll drop more. Price is near bottom 2 STD on our linear regression that started March last year (coefficient of over .95!) Also worth noticing: there seems to be divergence with price bottoms compared to the MACD indicator.
Entered swing trade on UPRO today: UY signal for UPRO last Friday, with a nice dip intraday to provide a buying opportunity. Weak closed but finished with a BUY sign. SELL on first red heiken ashi candle. TP1 @ 3%/$88.31 (25% of position) TP2 @ 5%/$90.23 (25% of position) TP3 @ 7%/$91.95 (25% of position) Strategy Statistics from backtest since UPRO conception...
BUY signal for UPRO last Friday, with a nice dip intraday to provide a buying opportunity. Weak closed but finished with a BUY sign. SELL on first red heiken ashi candle. TP1 is about 3% or $89.68, where I'll take of 25% of the position if that is hit. TP2 @ 5%/$91.42 (25% of position) TP3 @ 7%/$93.16 (25% of position) Strategy Statistics from backtest since...
On shorter timelines there is upside, I hope. Backing out until I could see a clear pattern, on the daily timeline looks like we're on the start of leg C down after a nice 5 Wave up A .236 retracement would have us bounce around $55.43 Sadly, I did my long term homework after the fact and missed the peak. Expecting to get SL'ed out and lose on a long UPRO...
Watching $SPX and $AUDJPY spread for breakout of indexes for the next leg up. Could the positive treatment news be the trigger at the top we needed.
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The SPX had tons of momentum before Corona Virus took ahold, which will have an effect on earnings for a few quarters. Look for the market to fully price in these concerns shortly and the rise should continue, especially quickly for this leveraged fund. Target $90
Until SPX cash closes below 2800, trend is still up. I see both bull and bear cases possible. I'm still leaning bullish as everyone is calling for a bear market or lower low just like Dec bottom, everyone was calling for a retest but we went on to make new aths. CB's will keep easing like or not, and companies are buying back their stocks aggressively. Again, at...
Bit money has been moving into these stop options looking for higher prices in the next 10 days! This stock looks like a solid gamble for higher prices. Weekly chart breaking will trigger powerful 2-3 week rally.