SpinTrades

SpinTrades Updated 

AUDUSD took liquidity from the monthly high and has shown a potential reversal via a break of structure. Monitoring this point of interest to scale in a short; ideally we would see a second break of structure for double confirmation. AUDUSD has been in a strong uptrend so additional confirmation is useful. Targeting liquidity objectives below.

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We can observe the weekly trend in MES which mirrors SPX and all SPX futures. Following consecutive lower lows and lower highs, we have broken the prior swing high to create a higher high. Equal highs and the weekly fair value gap above act as a draw on liquidity. Weekly fair value gap below also acts as a draw on liquidity. Retest and ‘double bottom’ in weekly...

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A failed breakout means more consolidation for tech until over 370. Bearish below 362.

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Breaking out of consolidation with fib extension target above at 445, chop below Jul 21 high. Bearish below 436.

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Demand zones highlighted below based on price action.With a strong base that forms, bullish price action can resume.

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SNAP can make a large move out of consolidation with earnings as a catalyst.

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After a monster run, MGNI has been cooling off since February highs. A bullish move on Friday and a rotation back into small/mid-caps could kick off another impulsive move up. I am looking for a break of this downtrend line and basing over the long and short term fibs over the 40.00 area. Short term resistance will come from the VPOC in red.

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ULTA has been building an inverted head and shoulders pattern after a bad earnings reaction in March leaving a gap above. If this can follow through over 325.00 with volume we could see a nice move. 50% fib can serve as stop loss.

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Nice move this past week with 71.90 still serving as price action resistance, can make bigger moves over 73.00. Stop loss can be set at 70.00 based on psych level and recent price action.

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BTC looked primed to break out over 60k and make new all-time highs. When it failed and broke down, I know it caught a lot of traders by surprise including myself. But looking back it is obvious where it was going to fail!

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Solar energy is at a historically interesting spot. Purely from a technical perspective, TAN is backtesting support level from over a decade ago following the breakout of a nine-year base. From a fundamental perspective, with upcoming infrastructure plans from the Biden administration and policies likely favorable to alternative energy, there are multiple...

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AAPL is forming a nice falling wedge after weeks of downtrend. Should the 119 area continue to hold, this area is attractive to add long shares and leaps. Below risks a re-test of 116-117 area.

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This is not a commentary on the promising fundamentals or potential of Denali Therapeutics but rather a purely technical analysis. DNLI has been consolidating in a falling wedge pattern coming off a nice run up from August of 2020. Price seems to have found a recent bottom at the all-time 50% fib as well a s the 200ema. These are critical levels to hold but so...

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Strong chart on the weekly and daily, look for this to curl up and re-test ATH.

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The bottom looks in and a rally/retrace is possible over this recent resistance level from price action.

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Cloud/SaaS were some of the growth leaders pre and post-COVID but have significantly cooled off since the peak in August/September and did not rally to the degree other names did in November - February. ADBE is forming a flag on the weekly viewing shown here on the daily, entry provided at 475.00 over VPOC, price action resistance which also serves as a "round...

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Insurance names have been building some steam recently as have others that have lagged in a growth-focused market. Nice flag break in progress and a potential run into earnings in late April.

SpinTrades

FUBO may be finding a double bottom at this major support area, giving an opportunity to scale in longs.