daytradederic

daytradederic

NVDA was clearly a market leader today posting 4%+ gains. Looking at the overall structure I am anticipating a broader market sell-off / accumulation heading into the presidential election (topping next week on Tuesday or Wednesday 10/1 or 10/2). My best guess is that we bottom for the break out of this pennant pattern after October's monthly options expiration....

daytradederic

Looking at the charts side by side...GDDY is set to break a multi-year resistance similar to SQ. Not sure of trajectory, but SQ is at about 280% from March lows...so GDDY has about 200% upside on the break pricing it around $250 It sounds crazy I know...but what is up anymore.

daytradederic

The price action has been pretty choppy lately, but has provide some much needed context as to what to expect with earnings...I've learned to not fight the trend and hopefully will be able to confirm this pattern late morning tomorrow (7/22). I'm looking for a bounce off $1530 level to confirm the floor of the bull flag. Target for this week is 1.618 level of...

daytradederic Updated 

Not an expert at EWT, but it's relatively easy to see a wave 4 correction of larger wave 2. I'm targeting a pullback here before earnings to the horizontal white line (which was previous resistance before the recent breakout) and then continuation of wave 5 of 3 to about $210 (2.618 x total length of wave 1 (which is about 80 ($140-$60)).

daytradederic

Not an expert at EWT , but it's relatively easy to see a wave 4 correction of larger wave 3. I'm targeting a pullback here before earnings to the horizontal white line (which was previous resistance before the recent breakout) and then continuation of wave 5 of 3 to about $210 (2.618 x total length of wave 1 (which is about 80 ($140-$60)). Furthermore, I see the...

daytradederic

So I've been spending a lot more time preparing for the week ahead in equities by charting local support and resistance levels. I mainly swing vertical spreads once I confidently identify resistance levels and other strong TA reassurance for a strong move upward (hence call options on ROKU last week). But what about GBTC? Overall I'm bullish for fundamental...