maj1234

maj1234

Nasdaq 100 has been rallying since it bottomed out of the deep 2022 correction. The current rally is likely to continue for sometime however, one should not be ignoring the technical levels for support and resistance that we observe on the chart for short term profit taking and building positions on pull back. The recent highs are supported by an unprecedented...

maj1234

BTC hit some key targets on the way down however but the correction is not over.

maj1234

BTC USD has been under extreme pressure to the downside over the last seven months. The correction has been brutal for the longs that have seen their entire profits for 2021 disappear into thin air. In fact BTC has lost a staggering 78%+ of all profits made from 2020 low to all time high. The correction has also demystified BTC experts claims that it is an...

maj1234 Updated 

COVID-19 has brought the tech stocks into focus over the traditional brick and mortar businesses. Businesses like NFLX, ANZN, GOOGL, MSFT, SHOP etc are either making new highs or near their 52 week high. In the coming few weeks we will find out if we break to new highs or rollover and sink to make it an ABC plunge !!! This pandemic has forever changed the...

maj1234 Updated 

Tesla is currently not part of the S&P500 Index. One of the inclusion criteria for the S&P 500 is that: “The sum of the most recent four consecutive quarters’ Generally Accepted Accounting Principles (GAAP) earnings (net income excluding discontinued operations) should be positive as should the most recent quarter.” Tesla hasn’t met this test yet but it is on...

maj1234

I am not calling that the S&P Futures have hit their bottom. Its just a perspective on why the market reversed on March 13th, 2020. The drop from the February 19, 2020 (3,397.50) high to extended session low on March 12, 2020 (2,380) equaled the 2008-9 drop during the financial crisis. It is most likely short covering by the traders and as investors saw an...

maj1234

The MACD and the RSI are both indicating oversold conditions. The 88.6% Fib retracement of the down move from 3.54 to 2.21 and the inverse head and shoulder seem to be aligned within a very tight range. Looks like a 5 wave Hamonic Impulse Wave has started. The wave 1 and 2 are in place. Now need a trigger to start climbing towards the $3.40 target a potental of...

maj1234 Updated 

Dow futures have been routed in the last two loosing close to 13.5% of the value. This time they say that the issue is the trajectory of the interest rates. For months the stocks were moving in a single upward trajectory and it seemed that nothing could stop the over exuberance of the investors. Once again Mr. market has shown that it cares for no one and...

maj1234

Its may be after the fact but shows technical charting can predict market tops !!!

maj1234

Albamarle seems to have formed a cup and handle pattern. Trading with a target of $147.43 upon break of $137.75. Both the RSI and MACD are stretched so I am suspecting that the move towards the target will be at a gradual pace I am keeping a tight stop at 133.90.

maj1234

Looks extremely overbought and way outside the channel that it had been trading for almost a year. However; not a seller yet. Plan to watch out for the update on the recent announcement regarding production capacity increase. investors.albemarle.com