ClassicEquity

ClassicEquity

Like shares, leaps, and September 20th 25C's at .65 a contract RNA company with one of the largest pipelines in the industry, biotech sector likely to see a tailwind in markets with rates coming down over the next 12 months

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Stocks above 200 days indicator has signaled overbought readings that lead to market pullbacks. I like to be more defensive in the coming weeks and looking for short entries via index puts with TVC:VIX at these low levels as well.

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Long Wick on the S&P Top Bottom 200 Day Indicator AMEX:SPY SP:SPX Tagged the longer term sell zone and pulled back. Market can squeeze higher but not signaling a long term buying opportunity at these levels.

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This chart illustrates how we are not currently in a rare buying yet most likely. Has been a great bottom signal for the larger "crashes" and bear markets of the past. While individual names likely offer great setups the index's aren't offering a good risk/reward in either direction here.

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Added on buy and sell zones for levels that have shown to be good risk / reward, also lining up with other sentiment indicators we have seen overtime.

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Retest of breakout still looks to be on track, plan to accumulate around the retest area depending on overall market conditions.

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Look at how far above it is from the 30 weekly MA, supports the thesis of downside ahead, too far too soon

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$DDOG still in stage 1 and not showing much strength in this market. A favorite target long term and not afraid to DCA at these levels.

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$SPY 2002 Tech Bubble False Stage 2 Breakout Could be similar setup to what we are seeing today with the 30 weekly MA flattening out

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$DJIA $DIA 30 Week Moving Average Turned To Support potentially. In September 2022 resistance of the 30 weekly MA signaled the flush into October, this time around it may be acting as support for a stage 2 breakout.

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Looking at the weekly, if this is a true stage 2 breakout then S&P is likely about to go on a massive run. See in September it was under the 30 week MA, now it is above it. Resistance turns to support. So technically in much better shape this time around, macro not so much.

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$SPY Similar action to September 2022 rally pausing at 30 day MA With volatility crushed today and CPI / FOMC around the corner, I like to start building back short positions here. Bullish case for a SPY gap fill in the 420's but hard to see in current macro, technicals are strong however

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$NVDA leaning towards this being a short term top as this name is overbought on every indicator and has fully filled the upside gap. With a pullback in overall market expect pullback to upper trendline retest around 180's.

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$OXY $XLE Oracle of Omaha favorite setting up for a gap fill. Thing energy has potential for upside if recession fears continue to diminish, also hedge for war escalations.

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$ASTS gap fill and consolidation, speculative play with rare upside

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$ABNB stalled with a negative fundamental back drop over the next few years. Theory is that growth has peaked short term but a long term name I like.

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$ABCL a favorite long term but risk ahead if markets falter as revenue from Covid treatment stops coming in

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$MS fun chart noticing the comparisons to Dot Com where many stocks topped in January and February of 2001 before legs lower. This is not my expectation but just pointing out some similarities