JTI96

JTI96 Updated 

We've been waiting to see the February QQQ gap get filled before looking for a major downside reversal We are now tracking a potential point of confluence setup. If the QQQ's fail to make further gains, and open tomorrow at or below current levels, it will have once again broken the white support line. Essentially a break, and failed attempted to regain it. It'll...

JTI96 Updated 

GOOG popping up after earnings is beyond shocking to me, but then again, I don't think many people still realize the economic impact of Covid that is NOT reflected in Q1.... The majority of Google's revenue comes from advertising. (33.8b/n of its 41.1b/n). Advertising revenue got (and still is) getting crushed. The problem with Q1 is....advertising didn't start...

JTI96 Updated 

In our previous post, we had mentioned how our long target was the 270-294 range. 280 being the primary target. That has now been broken impulsively due to an overnight pump on news about remdesivir working on covid. If that drug rings a bell.....that would be because Wuhan announced the same thing a MONTH ago. Nonetheless, news is news, just like the way down,...

JTI96 Updated 

Currently sitting in no man's land at pre-market today. Historically, when there is a massive sell-off, than a strong rally that follows, the two most common things to happen are then a retrace followed by a second rally higher or a double bottom. (duh) Usually the retrace is down to the 50 or 61.8 fib lines. Those two zones currently sit about 8(240) and 14)236)...

JTI96 Updated 

Now is looking like as good a time as ever to enter long. Can this wedge play out longer, and create lower lows? Sure. Here''s the case against that: Fib Retracement: 335 is the 38.2 retrace zone... Also the area is a point-ish shy of the Dec. 208 lows. It's a heavy support zone as, most bear markets see a bounce here. Here's a shorter term wedge forming in...

JTI96 Updated 

There is an interesting setup between AAPL and SPY right now. Both are sitting at 238 in pre-market, and both are looking at a target around 233.5. Will that hold or will there be further selling? Who knows.... What we do know is that APPL respects it's longer term trendlines very well. AAPL's bull market cycle that started back in 2016 is back in play. And even...

JTI96 Updated 

Truthfully, I have a tough time believing this pattern can play out. I'm not a "the world is ending" believer. Which is essentially what a move down to 250 in just a week is saying. Technically though, it's very much in play. Yesterday was a retest of the previously made low. Technically a move up to 299 today or 295 tomorrow, followed by a reject, would still...

JTI96 Updated 

CMG didn't see near the bounce that most stocks did on the initial bounce this week. Signaling some weakness in the stock. Looking for a quick pocket fill down to 637. If that were to break...50 on the fib looks like the next area of resistance. I like the risk/reward around 637 for a long here. Could see a bounce to the 200dma around 780 or even a gap fill...

JTI96 Updated 

If you've been following our previous post with the SPY, we had mentioned how the VIX broke out. It was only a matter of time before it retested the multi-year resistance line: Admittedly, we thought there would be some sort of consolidation/bounce faze during the initial break, before a further sell-off occurred. That didn't happen. It just goes to show, how...

JTI96 Updated 

We have been closely following the VIX in our former post regarding the SPY. There have been 3 trends we have been watching: The resistance created over the past year. the past two-ish years, and the one that has been around since 2016. --Short term resistance was broken, but the overhead resistance from the interim trend then prevented further spiking. The key...

JTI96 Updated 

TTD is painting such a strong cup and handle breakout pattern here that it feels like one of those trades EVERYONE sees, which brings the skeptical contrarian in myself to the table... None the less the setup is looking beautiful. Currently a short term pull back at new highs, the sell-off yesterday was bought up during the day. Volume has been lower during the...

JTI96

AYX just beat on everything except for it's EPS guidance for Q1. Clean cup and handle set up. Sitting in the consolidation faze. Would look for a clean break and retest of the 147.95 previous highs during trading today to enter long. Then a quick pop up to around 154-155. A successful breakout of the white trend and AYX could be heading for $200. For now, it's...

JTI96 Updated 

At the moment, it is a great time to technically go long. The VIX tested the rising wedge resistance, and is now doing so again. (As it often does before selling off once again) The bigger picture here is once that trend breaks, the next line of resistance for the VIX doesn't come for quite some ways....A sell-off seen much like in 2016 and early 2018 would...

JTI96 Updated 

Cloud stocks have been strong in general. Seeing a lot of similar flag setups here with TWLO...CRM...WDAY.. The key here for Twilio is seeing that it started consolidating above the September/October 2019 highs. Now using that as support. Still can't rule out a test of the 9 dma around 118, but 7 straight days of flat trading, a resolution should be imminent....

JTI96

The semi's have been red hot. So any shorting done needs to be done with super tight stop/losses. MU is presenting a great opportunity to get short. It's currently rejecting a long term trend. Another gap up this morning is going to likely open MU right on the trend again. Expecting a fade off the gap. Any sign of strength on a break through of the white...

JTI96

ROKU has been stuck bouncing back and forth between this wedge here for a bit. Stock is known to make big moves and quick whether it be up'down. Above the 200 day...And more importantly still above the yellow trendline that has been strong support for a over a year: Entry at either the yellow trendline or the upper wedge break looking good for long. A breakdown...

JTI96 Updated 

The last time we did a SPY update we had mentioned (although it seemed unlikely and irrational) that if the SPY broke the red megaphone pattern, a parabolic move high was likely to occur. We kept the yellow trendline on the chart because it was really the only form of over-head resistance that was seen once a breakout occurred. Well...here we are...resistance...

JTI96

Was expecting a breakout from the flag in early January. DIS has since continued to consolidate, but the breakout of the pattern still remains in tack. Multiple tests of former resistance, now support trendline have been made. I would expect NFLX has a bit to do with the extended consolidation. "The Witcher" being a big hit has people believing in NFLX again. I...