mak337

mak337

$NVDA looks to be nearing the end of a primary wave 4. This one may not pop as hard as some other tech names recently have (e.g., $AAPL, $MSFT, $AMZN), but I like it to break north of this triangle soon and plod towards it wave 5 target by spring.

mak337 Updated 

Here's a bearish $QQQ count that has us concluding an ending diagonal intermediate wave 5 of primary wave 5 of cycle wave I, followed by a target between 0.5 and 0.618 of cycle wave I. This top would coincide with a 20 y/o channel. Not committed to this count, but I nibbled on some near term $SQQQ puts.

mak337 Updated 

$SPCE is a little too young to start calling cycles and primaries, but based on the data we have so far, there is some indication that we're in a primary 3 with significant upside. I'm bargain hunting for a few long dated OTM calls. This feels like more of a flier than a sound investment, though.

mak337 Updated 

If primary wave 5 = .618 of wave 1 + wave 3, then primary wave 5 was in today at $193.80. This top coincides with: (1) a bearish ascending wedge; (2) overthrow of 20 year channel; (3) bearish RSI divergence; (4) declining volume; (5) bearish MCAD cross and divergence; (6) all time highs; and (7) "real" economy that does not justify $IWM all time highs. Just one...

mak337 Updated 

Is the end nigh for $TSLA? If wave 5 = inverse 1.618 of wave 4, then the top is already in. If wave 5 = .618 of wave 1 + wave 3, then the top is very close. If wave 5 extends, then we've still got room to run. But the ONLY justification for this price is institutional hedging of calls. A stiff breeze should blow this whole thing over. I predict that happens sooner...

mak337 Updated 

$MSFT has a five pack of nested 1, 2s. One of the best set ups out there, IMO. I've been holding 12/31 $117.50 long calls. Up 22% on the day. Could get over 100% percent quickly.

mak337

I am short term bullish on $QQQ. I think it will be the beneficiary of a rewind of the recent rotation into value.

mak337 Updated 

$SLV looks primed to break out if it can hold the VWAP anchored off the March lows. Nearing the pennant convergence, declining volume, and clearly formed pennant. I entered some long June 2021 $21 calls today. Will add more if it breaks out of the pennant as I anticipate that it will.

mak337 Updated 

Looking for $SLV to retrace to $21.79, at the confluence of .5 wave 1 and the upper edge of the consolidation triangle it recently broke out of. It it hits this week, I'll be entering some long calls.

mak337 Updated 

Wave 2/C nearly in. Expecting another $2 of decline before heading higher. Entered 12/31 $26.50 long puts @ $2.38.

mak337

$RKT with plenty of room to run

mak337 Updated 

After a strong rebound this morning, I think $TSLA makes one more minor impulse up to just shy of $680 before beginning a major correction A of V. Here is my path projection.

mak337

$FB bearish EW count has us in impulse down to complete zigzag. Alternative is an ending triangle with breakout to upside.

mak337 Updated 

Expecting $TSLA to retrace to the .5 - .618 are to make a miniscule wave 2 on the hourly. Opened some 12/11 $570 long puts at $12.95.

mak337 Updated 

Wave 4 and Wave c of 4 converging around $177.60.

mak337 Updated 

$DIA looks to be due to begin leg 4 down of an expanding triangle corrective pattern following a 5 wave impulse up from the March lows to August. Leg down should fill some gaps on the daily. Alternatively, if DIA breaks through the top of its channel, then we're in an extended 1st wave, and all bets are off. The channel has held since 2008, however, so I believe...

mak337 Updated 

$IWM is testing the top of the channel it has traded in since the ETF's inception.

mak337 Updated 

$AAPL in a miniscule wave c that I'd expect to retrace to 100% or 161.8% of miniscule wave a. Favoring a 161.8% retrace, as that would coincide with a backtest of the triangle it recently broke out of. Entered some long 12/18 $123 puts.