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### 1. **IWM (Russell 2000 ETF)** - **Stochastic Reading**: The stochastic oscillator is near the oversold territory (below 20). - **Analysis**: IWM is showing a potential buying opportunity as the stochastic indicator suggests it is in oversold conditions. Historically, when the stochastic is at these levels, it signals a reversal or at least a potential...

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ITB Breakout Analysis - Strategic Entry and Key SMA Levels Overview This analysis focuses on my recent trades in the iShares U.S. Home Construction ETF (ITB) and its technical landscape. Using the 50-day and 200-day Simple Moving Averages (SMAs) as key indicators, I identified a strategic buying opportunity during ITB’s consolidation phase, which has since...

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In this analysis, we take a closer look at the daily price action of Bitcoin (BTC) and PEPE (PEPE/FDUSD) from May to mid-September 2024. Both assets have exhibited unique behaviors, with BTC showing notable volatility and PEPE following a more consistent downtrend. The goal is to identify any correlation between these two assets and their market dynamics. BTC...

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1. **Price Action Overview:** - We see a substantial upward trend over the years, culminating in the recent correction from the highs of around $70,000 to the current level at approximately $56,632. - Price recently broke out of a rising wedge, a bearish continuation pattern, indicating a potential retracement or sideways action. 2. **RSI Analysis:** ...

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Overview The Invesco QQQ Trust (QQQ) chart presents a well-defined Elliott Wave structure over the long term, suggesting a robust bullish trend. Additionally, the RSI is indicating interesting channel movements that reflect changes in market momentum. Key Points: Elliott Wave Analysis: The chart displays a clear Elliott Wave pattern: Wave I started the...

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SMH Daily Chart Analysis The VanEck Semiconductor ETF ( NASDAQ:SMH ) is showing interesting technical patterns! We're seeing the completion of Elliott Wave (3) with a potential corrective Wave (4) forming. This suggests we might see some consolidation or minor pullback before the next bullish wave. The RSI is trending in a downward channel, reflecting...

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Decided to buy 3 more shares of SMH today, taking advantage of the 9% pullback from its previous all-time highs. Here’s why: The chart shows a well-defined Elliott Wave pattern, currently in Wave (4) with Wave (5) expected next. This suggests further gains are on the horizon. The RSI is at 76.25, approaching overbought territory but not quite there yet....

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Analyzing the USD/MXN monthly chart, it looks like we're witnessing some interesting developments. The pair has been in a descending channel since early 2020, but it recently broke above the descending trendline. This could signal a shift in momentum. Key levels to watch: Support around 16.50 has been rock-solid. Resistance near 19.50 is crucial if we see...

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**ITB Buy Analysis and Breakout Alert** Here's a detailed analysis of the iShares U.S. Home Construction ETF (ITB) with a focus on recent buy points and technical indicators: **Buy Points**: - Early March: $108 - Late March - Early April: $106-$108 - Early June: $100-$101 - Early to Mid-July: $98-$100 **Key Observations**: - Recent breakout...

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In this week's market analysis, we're diving into the performance of Invesco QQQ Trust (QQQ) and the iShares U.S. Home Construction ETF (ITB) over the past five years. **Orange Line**: ITB (iShares U.S. Home Construction ETF) **Candlestick Chart**: QQQ (Invesco QQQ Trust) Here's what stands out: 1. **ITB vs. QQQ Performance**: - Over the last five years,...

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The weekly chart of the SPDR Portfolio S&P 500 ETF (SPLG) provides insights into its performance and key technical levels. Here’s a detailed interpretation of the chart: Historical Downturns and Recoveries: SPLG experienced a significant downturn from late 2021 to mid-2022, dropping by approximately 27.67% over 1564 days, a notable bearish phase. Following this,...

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The monthly chart of Invesco QQQ Trust (QQQ) reveals some intriguing patterns and insights into its recent performance. Here’s a breakdown of what the chart illustrates: Strong Recovery Post-Downturn: From the high in late 2021 to the low in late 2022, QQQ experienced a significant decline of approximately 37.96%, shedding over 154 points in a span of 11 months...