2 Stocks with similar patterns, have cheap options that expire Friday. I am hoping for a tiny pullback, so I can buy the 10 calls in PLBY and the 10 calls in DDD.
CMG inverse h&s measures to the next area of resistance.
The NQ inverse H&S is trying to break up this morning. Many times the objective is the width of the basing move.
If Bitcoin doesn't hold here ,27,000 is in the cards.
I like to go over the "pain trade". What would hurt the most people? BTC between 10000 and 20000 would do a ton of damage.
Since1982, most market sell-offs approach, or briefly plunge, under the monthly and weekly 200 SMA.
The rut2000 has finally achieved the downside objective. Because of that, I am leaning long RUT stocks.
Bitcoin attempting an oversold rally. But the key is the overbought hourly MACD. If /BTC can work off the overbought MACD by forming a bull flag, then the worst is over. But ultimately 20,000 is possible.
Not only could support break, but if it does, the measuring implication is the amount of the previous move.
The /ES is right at important support. Next support is 4277.
Most indexes move together eventually. The March 20th levels, and the 4 hour 200SMA are the next stops. After that, the March 15th levels are possible.
The MACD's on these indexes could go higher. But the broken trendline is probably where indexes stop.
The /ES weekly price is under the MACD. But it has worked off any oversold condition poorly. The weekly MACD is now overbought.
The weekly bond chart looks like a big bear flag. If it is, the objective is under 130'00 !
The S&P, and other world markets are at levels seen BEFORE Russia massed its troops. Also the weekly MACD is overbought. I would be careful on the long side. We still have a weak bond market,inflation, and Fed headwinds.
If the RTY breaks the bear flag posted on right, it could go down by the previous move.Major support is 1700.
The 4250 zone is near the January 24th lows. There is good support there from prior highs and lows.
ZM is within 20 points of the levels where the SPX500 cracked. 108 is a low risk buy entry.