Tsteves

Tsteves Updated 

Hey Traders, Breaking this one down to the fundamentals and it's actually pretty simple. Starting off with the news here. NVDA is investing $500B with a "B" into US manufacturing alongside Apple Inc. as a 4 year plan to increase production in the US. Big news. Jensen Huang is notably one of my favorite CEO's with a level head and after the big sell off, I was...

Tsteves

Hey Traders, We're back again with another SPY prediction as the last one we had from Feb. 1st was spot on with the big sell off of 10% from the top. This is shortly after the FOMC news which has interest rates unchanged, however, market sentiment seemed to like it as the moving averages came to a head and we had some serious buying after 2pm. I'd like to...

Tsteves

Hello traders, After reviewing the overall market and running some technicals on META, I think we're due for a bit of downside towards the midpoint in this parallel channel around 637.40. But why? Well, TikTok is back as we all know and that joke of a ban only added growth to the companies platform. That's the headline for this one. Next up, we have technical...

Tsteves

Hey traders, After a large sell-off Friday, the question is, how are we looking going into next week? We're using all technicals for this one with a sprinkle of economic news. Considering tariffs and deportations, "disruption" of goods, etc. I would say we are looking for more downside with the economic insecurity. I expect the VIX or UVXY to start climbing,...

Tsteves

Hello traders, As we roll into these next upcoming weeks, especially with the most recent news on tariffs, I feel the need to share my thoughts. First and foremost, let's talk about the story. After the inauguration, markets ran up. The S&P followed a narrow upward channel and it broke on Friday, giving signal that some kind of news was bound to come out the...

Tsteves Updated 

Good evening traders, If you're anything like me, you've probably been asking yourself for a few days now when SPY will top out? So here is my technical analysis with a breakdown of my thoughts and predictions for the next few upcoming weeks. First and foremost, Trump took office on Jan 20th. The "Trump Pump" is alive and well, obviously. I'm starting to think...

Tsteves

First and foremost, I have to admit I'm a little biased on this prediction because I have calls expiring 9/6, but I'm going to break down my thought process for this trade... First thing I noticed was the 4H MACD starting to turn towards the upside. After earnings and a peak of 130, we slid all the way to the 104 region which equates to a 20% dip from the...

Tsteves

Here we are. Just you, me, and a strange serious of price action events with NVDA... So, how do we read this in the short-term future? I always start with a Daily Chart (1D). MACD and RSI are overdue for a little pop towards the upside. After a retest of the lows, NVDA bounced off what we can now call Support at 97. Our initial price targets still stand. In...

Tsteves

Let's kick off Tuesday morning by breaking down IWM: First and foremost, on a daily chart, it appears to be in a freefall and this slight recovery is just a bounce along the ride down, complimented by the rising wedge pattern on a 1H chart. I'd like to sit back and say, "well the markets recovering, so IWM should too". However, experience has taught me to trust...

Tsteves

So let's break this down. NVDA hit the price target of 95-97, actually even broke below that giving up a little extra icing on the cake... We know that Ms. Market isn't going to allow people to get rich on short-term calls and her job is to stabilize growth in the market. NVDA did the 10-for-1 stock split and made it much more affordable for retail traders to...

Tsteves

The old peak high would indicate a bounce off the zone of 95-97. Drawn out, it's likely to hit between 8/2 and 8/5, after the weekend. However, we know the market likes to trick, trap, fool, and frustrate. So let's see how this plays out... In that range of 95-97, I'm buying calls for 2-3 weeks out.