Big UBER support level needs to hold. LYFT got hammered so is the bad news now priced in? Anything positive should see a bounce for LYFT. I have just bought some LYFT for a quick bounce but remain bearish longer term. $UBER $LYFT
Massive support for Intel (INTC) results were in line, Guidance maintained but CEO was bearish on the call. If this goes then a move to $35 would be quickly achieved huge volume gap from $43 to $35. AMD may save it though as it was very bullish in guidance and on the call.
The title really says it all, look out below if 2700 breaks. Market feels like it is positioned to rally, witness Facebook and the $SPY after that gdp.
SPY, a powerful bounce from the 415 support, this market so far looks like it wants to rally. A weak GDP but SPY rallies anyway. Yes the headline was bad largely due to the trade deficit from sanctions. But the SPY rallied. Now aapl and amzn are key to see where from here. Facebook is a releif rally not a buying opportunity. The dollar remains strong, strong...
each spike has held the trendline and resulted in a large pullback. Yesterday we had an intraday rally up to nearly $200 but closed 10% lower at $179. that indicates recent momentum is probably over for now. So move up trailing stops or cut your position IMO. book some profits if you were in this move. Take maybe 2/3 off the table and let the 1/3 run for a free...
GME 15 minute chart showing above or near $200 the RSI spiking to oversold (i use 80 as oversold not 70, weeds out false signals). No volume above or near $200 to verify the move and sustain it up there. Big sell ff into close resulted in an MACD crossover.
Hourly chart gives us a bit more detail on the chop or range. Back above $886 and we are in the chop zone for sure. $945 at the top and 200-day remain the pivots. risk assets are lower, gold, dollar, bonds etc so risk is back on for now.
wow what a choppy session.Tesla got a Piper upgrade, superbowl kicker and Soros boost for EV stocks. Tuesdays sees russia tensions reduced which should help the riskeir side of the market. Tesla, Rivian Lucid etc. the chart though is still unclear. $945 and the 200-day remain the key levels
Pop on soros news. Really!! Think it through people this is nearly two months old. It's a bad investment it's interesting news but it doesn't change the narrative, the fundamentals or the background. Growth is going to struggle for at least this quarter.
Yet again we have a late session sell off. This was starting to look like some potential for stabilisation. All the volume so far today was around 440 but we have now broken out. The close is the most significant part of the day due to benchmarking and this is also the most liquid time of the day. I thought if we could hold around 440 there might be a contra...
The 200-day moving average is huge. Tesla has not closed below it since June. It has broken it intraday but the close is more important. notice volume spike on November sell off. We then saw volume drop as the stock slid slowly lwoer. So far same volume spike in early Feb followed by declining volume so stock likely to slide slowly lower.
volume gap worked out perfectly as we earlier identified. now same problem sub $22. Earnings will need strong guidance to help the stock. Sentiment toward EV names is weakening with every inflation and hawkish comment so will be hard to fight. Short term bounces are always possible but the trend remains negative. supports identified.
IWM has been lagging and is looking to break out of the long term range we have been in for all of 2021. if it does it will drag everything down. but RSI and CCI both have come back from oversold so risk reward favouring upside, look for MACD crossover to confirm. Getting in too early is always a probelm, wait for confirmation.
buying the dip has worked well for the duration of this pandemic so is this the case again? looks likely. economy booming trend is strong, earnings look good. IWM is a worry as it is looking to break the range to the downside so keep an eye on that one.
A successful hold of the 200-day and a 5% rally from early lows. all strongly bullish. We need the MACD to cross back over and break above $48. Volume profile is thinner above $48 making gains easier.
