AdvancedPlays

AdvancedPlays

Big time fakeout for NVDA recently after a failed head and shoulders and move below $131.50. Pretty dirty for bears, this type of action usually leads to a hard reversal in the other direction which is what we've seen so far after it finally decided to move. Upside targets are the trendline above and ATH. Not really interested in taking a short on it if it falls,...

AdvancedPlays

I have not been very interested in MSFT for the past several months, but it's coming into a major area so there could be a big move soon. It has been somewhat weak compared to the rest of the mag 7 and has a major support from the November 2023 uptrend. Looks kind of bearish to me right now after having that failed breakout that almost retraced the entire move...

AdvancedPlays

Clean looking bull flag here on AMZN. An upside break should lead to a move back up to ATH, which may also present a long opportunity if it breaks and holds on a retest. Flag pole target is up near $265. Longer term downside target is around $195 if it turns bearish.

AdvancedPlays

AAPL flushed last week after breaking below its uptrend since April. It's a pretty bearish look, but I would expect a bounce if it retests the previous ATH around $237. Upside targets are the gap fill above, trendline above, and/or ATH. If it doesn't hold, first downside targets are $230 and $216.

AdvancedPlays Updated 

I had been watching SNOW for a long but it failed to hold up and is now in the big earnings gap where there's not much structure. I think the ideal short entry would be on a retest of $161 targeting $145. I wouldn't be interested in puts above $161 but I think it has good potential to move down to $145 and then fill the gap from November.

AdvancedPlays Updated 

I think AMD still looks bearish on the longer time frames, but for now on the 15m it looks like a potential bottom with an inverse H&S. First upside target is $127.65 and it might go all the back up to retest the major trendline above. Would be bearish if it falls back below the shoulders/neck line with a target area of $118-$120.

AdvancedPlays Updated 

I'm seeing some mixed signals on TSLA, lots of consolidation recently around the previous ATH so expecting a move soon. On one hand we have a megaphone/uptrend break to the downside that started about one month ago. On the other hand we have a pretty nice looking bull flag. I would say its bullish above the previous ATH and bearish below, but would not be super...

AdvancedPlays Updated 

The mag 7 bounced at 2,225 once again while SPY hit $585 this morning so that was pretty good. It may be headed back to the top of the range from here, but the best move will come if it breaks below 2,225 or reclaims 2,300. Rangebound for now, but will be very important for bulls to watch if it tries 2,225 again and breaks. Seems fine otherwise, but also has a...

AdvancedPlays Updated 

DXY recently reached its highest level since 2022 after a huge rally off of $100. This is a longer term monthly chart. We can see what appears to be bullish consolidation since 2022 between $100-$105. The next move will be up to that 2022 high followed by a move back up to the 2001 high and potentially higher. This will be a disaster for equities. US treasury...

AdvancedPlays

QQQ just broke below its uptrend from the August low, it did break once before but that lasted less than a day below. This looks bearish to me, expecting a move down to the previous ATH around $503 and then back to where the election gap was if that doesn't hold. The most important level for longer term will be the trendline below from November 2023, seems bad if...

AdvancedPlays

SPY almost came all the way back to fill the gap but failed to breakout of its descending channel. Will be looking for upside if it can fill that gap and continue back up towards $602.50 and ATH. To the downside watching $585 and the election gap fill for now.

AdvancedPlays

Similar charts for COIN and BTC as usual. Will need to see them move in unison for confirmation. Both had an uptrend break recently and came down to support to close the week. This looks bearish to me so as long as BTC falls below $93k and COIN falls below $270ish I'll be looking for shorts targeting $85k on BTC and the gap fill around $197 for COIN. Bias will be...

AdvancedPlays

it's important to zoom out frequently to gain some additional perspective. I've given some wild targets for the next 12-18 months and most probably think it's silly, but I can assure it is not. I don't have to be right and it may not be as bad as I think although I highly doubt that. Either way, this is a one month chart going back to the late 90s with what I...

AdvancedPlays

SPY came all the way back up to 602.50 and rejected, but not by much yet. Seems bullish if it reclaims soon, bearish below. Downside targets are the recent bottom around 585 followed by the election gap fill below and then a previous ATH around 565. Upside targets are ATH and beyond.

06:04

AdvancedPlays

We got more action than I thought we would today for sure, makes things more interesting. There's a lot of bottom signals I'm seeing right now. Probably best to wait a bit to see what happens in early Jan, but here's my thoughts moving forward.

AdvancedPlays Updated 

The market is beginning to look a lot more bearish this week IMO, so starting to look at some short setups after only taking longs basically since the election. Wouldn't be surprised if we had a bullish reaction after FOMC and into the end of the year, but expecting downside at this point. NFLX may be a good candidate for a short, clean channel break and has...

AdvancedPlays

SPX had a clean break and retest of its ascending wedge last week. It was a strong move back up off of 5850, but it rejected on the retest. Range is now from 5,850 to ATH. Looking to see if bulls can reclaim that trendline or not. For now I'd be bullish above 5,850 and bearish below. Downside target would be the election gap fill and/or the previous ATH around...

AdvancedPlays

We finally got some volatility last week and a big short squeeze. Was a pretty good week to trade, but I'm not expecting much this week. It's a short week and I plan to take most of it off, but we'll see if anything happens worth noting. Here's some paths I'd expect for ES in the short term. So far ES failed after about a 61.8% retracement. Fairly big range from...