ContraryTrader

ContraryTrader

November is coming! Small caps usually outperforms every other index during that time So here's what I see Channel perspective Has been bumping it's head against this trendline With the exception of one fake out , this trendline has held Fibonacci level 225 is the place to beat.. I think price could be forming an ascending triangle for a big push...

ContraryTrader

I think we are at a pullback zone here.... Price is sitting outside bollingerband and More importantly price has now extended 2½% away from its 21ema. Last 4 times Spy has extended 2-3%, away from its 21ema price Usually pullsback to retest. Here's an example If price gaps up tomorrow 10/15 , then I would be weary of chasing or swing longs.. I'm looking for...

ContraryTrader

Super extended here At ATH... Out of all the 2020/2021 Spacs that IPO, PLTR defied the odds and outperformed. I think a pullback is coming for that 30$ gap close but a drop that steep won't come without some company specific negative catalyst. Last time price was this extended technically on PLTR was July 31 of this year.. price corrected 30% over the next...

ContraryTrader

Bearish divergence on the hourly RSI.. Rising wedge here... Look for price to retest 544 breakout in the coming week or whenever wedge breaks to the down side. Best short entry IMO is either under 564 Or if price retest wedge resistance again. As long as price is inside wedge they can keep grinding this higher 570-585 This the sector of Meta AMEX:XLC Chart is...

ContraryTrader

Look for a pullback here to 560-562 next week minimum.. too many red flags showing right now. The biggest is flag is NYA which represents the broader market then just the S&P 500 Closed at the top of a wedge with a reversal candle .. I expect a pullback to support thena final bounce higher around mid October I expect a wedge flush and bigger correction.. So...

ContraryTrader Updated 

Next week or 2weeks and we should see price correct back to 20sma for Spy and Qqq.. Spy has broken uptrend from May 30th low (Yellow channel). 20sma is near 536 gap so that will be your target.. price could dip below 535 to test trendline support but unless we break 533 or trendline support they'll buy it up.. The sectors look weird.. I'll give you an...

ContraryTrader

Priced formed a falling wedge and bounced off 200sma this week.. currently right below 20sma at 113. strong long over 113 with a target back up to 120. If XOM breaks back over 120 your summer road trips will become a lot more expensive Also energy sector XLE showing identical price action with a wedge and bounce off 200sma Energy should run high throughout July

ContraryTrader

Looking a test of the 20sma this week. Lots of support near 528-530.. I'll list then here 1. 20/21 Ema - 528 2. Trendline - 530 3. Gap close support 528 They could dip this to 526 to trap some bears but unless it closes below 525 I wouldn't linger short. The only reason I'm leaning towards 540 is because of the Dow and XLY sector.. dow wants 40k again in...

ContraryTrader Updated 

Most likely they push this up to 195-200 or trend line resistance here.. Hammer candle with volume at 50sma Looks like a cup and handle to me Stop loss below 180

ContraryTrader

Pennant here forming at the bottom of a larger megaphone... Breakout coming in the next week it seems. 200.00 first or 200sma... Over that and 217 comes next

ContraryTrader

192 stiff resistance. 189 price action support.. 189-192 is chop.. We break 189 and we head to the bottom of this channel at 187... Below 186 and 182 is incoming.. Above 192 and 195 or channel top is next

ContraryTrader Updated 

Weekly chart here with log Scale... . Upper boundary has been respected for years 7years here and so has Weekly 200sma (Purple line)... last test of upper boundary was March .. The resistance is slanted upwards so Technically NVDA can make another high without breaking.. Lets see NVDA did rally after earnings, the upoer boundary or trendline would now be ...

ContraryTrader

Here at a muti year trendline.. weekly severely oversold now.. . Targets 400 425 Stop loss 370

ContraryTrader Updated 

Bear flag showing here on spy and a few other indexes/ sector. This bear flag would be consider a handle for a inverted cup and handle. Smaller time frame looks like this spy And heres NQ We are headed back to bear flag support around 500.. from there we could either finish one more bounce higher 511-514 before finishing the leg down to 480 The bear...

ContraryTrader

Bear pennant here. Looking for a move to close gap a 390 in the next 2weeks.! Larger picture is a correction through a rising wedge (See link).. That correction is still on going and i think Msft will retest 366 before this fall via H&S XLK sector also at resistance here.. Overbought and set for a pullback Stop losses set at 417

ContraryTrader

Fawkery on top of fawkery.. dragging this short out... 2nd rising wedge here should get it done.. Stop loss 192. 1st Target 173 2nd target 160 Mid term target is 173 gap close. Long term target 160 gap close

ContraryTrader

Bearish at the end of a double bottom Short target here is 200 gap close.. Has a final gap at 206.30 to close so thats where i will enter.. Stop loss 207.50 Target 200

ContraryTrader Updated 

The correction back to the primary trendline has started.. i had to to dust off the 100sma for a lot of stocks and indexes. Overalll technicals tell me we are headed lower than last week lows but a nice dead cat might be here near term. Dow jones Held that 37,800 support all week and finish the week with a break out of its down trend Looking for a short term...