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SPY indicating more selling to comeSPY Today pulled back much further than anticipated after the volume price exhaustion on Friday close. We have now broken below key support and into bearish territory A pullback was expected today due to volume spike on friday close during a rally Sell off proved to be more severe and broke below key support Final trading period gave strong hammer candle with high volume Hammer candle indicates reversal from downward trend Due to firm break out I expect a bounce up to new resistance line followed by more selling off. Originally thought we were experiencing pullback in time from SPY with it trading flat. It appears now that it was a longer term distribution phase before selling occurs.
AMEX:SPYShort
by ratchet-mint
USD/JPY Day Trading Analysis With Volume ProfileOn USD/JPY , it's nice to see a strong buying reaction at the price 145.620. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. The S/R zone from the past and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
by Trader_Dale
ES (S&P 500 Futures) - Day Trading Analysis With Volume ProfileOn ES (S&P 500 Futures), it's nice to see a strong buying reaction at the price of 5616.50. There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. Uptrend and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
CME_MINI:ES1!
by Trader_Dale
Technical Analysis on Alibaba (BABA)Alibaba ( BABA ) has been in a long-term downtrend that began in October 2020. In the medium term, however, the price has entered a phase of compression, suggesting a possible pause or reversal of the trend. Analyzing the volumes using the Volume Profile, we can see that the price is currently caught between two key Points of Control (POC): POC 1: A significant volume level that considers the entire historical data of the stock, located around the $80 area. POC 2: A medium-term POC that reflects the current phase of compression. Bullish Scenario: To consider a potential bullish scenario, it will be necessary to wait for the price to reach POC 1, located around the $80 area, followed by a breakout and a possible retest of the descending trendline. The first significant resistance and target for this bullish scenario is around the $120 area. Bearish Scenario: For a continuation of the downtrend, it is important to monitor the price in relation to the two POCs. If the price drops below both levels and breaks the ascending line, with a possible retest, we could see an extension of the downward movement.
NYSE:BABA
by Giovanni_Bandini
Technical Analysis on AMD (Advanced Micro Devices)Analyzing the historical performance of AMD , a key turning point is evident that marked the beginning of the current bullish phase—starting at the end of 2015. During this period, the stock held an important support level, followed by a decisive breakout of the bearish trendline. On a daily timeframe, this breakout was accompanied by a gap up, known as a breakaway gap. During the upward phase, the stock experienced pullbacks ranging from 40% to 60%. The most recent pullback, which began with a Shooting Star candle, was 45% and stopped precisely at a crucial Fibonacci level of 0.618. Bullish Scenario: To confirm a continuation of the bullish trend, AMD must first surpass the $160 area and then the $190 area, a range characterized by significant volumes. Bearish Scenario: If the stock fails to exceed these two levels, it could continue its retracement by breaking the ascending trendline. Two potential entry levels can be found in the POC area around $180 and the support area around $95.
NASDAQ:AMD
by Giovanni_Bandini
QQQ gives more strength to its bullish turn aroundToday QQQ started with another gap up breakout for the 2cd day in a row. Stock retraced then rallied again in the late day. Stock gapped up again doing another breakout weakening the week long sell off trend. Retracement that was expected sold off less and at slower pass than the day before Late day smart money jumped in and pushed the stock to higher highs Volume experienced a massive spike in last moments of trading which can be indication of price exhaustion. This should cause a temporary pull back next trading day Overall the bull thesis for QQQ is getting stronger each day.
NASDAQ:QQQLong
by ratchet-mint
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