mggagni

mggagni

Monhtly chart of SPX. Looks like it is breaking down below key fibb level and next target is around 3,000. 3,000 is in play unless Fed decides to pivot and cut rates.

mggagni

SPY failed again at the 1.618 fibb level. It looks like it will be heading towards the pre covid highs. Starting to see weakness across different sectors which is more evidence the market will go lower. We could see another 12% drop before any support

mggagni

XHB needs to find support at the 1.618 fibb level. If not it looks like there is more downside to come in homebuilders.

mggagni

IBKR breaking out to new highs. If it stays above $80, it looks like it wants to go to $110

mggagni

Eurodollar Futures going out to June 2023 are pricing in rates to be around 5%...tempting...might take a stab at this one with call options

mggagni

Macro back drop is not looking good. $10K is the next target

mggagni

META looks like its going to breakdown once again. With the Fed continuing to hike rates and growth slowing, it looks like META will head to $125 and maybe even lower

mggagni

BTC on its way to $20K and if $20K doesn't hold then its heading to $14K ish. With the current environment, there could be a good chance that $20K doesn't hold.

mggagni

With the current macro environment, MU looks like its going to break recent support and head back to the mid $50s.

mggagni

On a short term basis, if ETH can't get back above its May highs, then its heading back towards $3,000. Long term bullish on crypto but, bearish in the short to intermediate term. Crypto will be lower or trade sideways over the next 24 months

mggagni

2 failed breakouts. 1st failed breakout led to a 55% drawdown and I think this 2nd failed breakout will also lead to another big drawdown. Most investors are super bullish and they are all expecting a big Q4 rally with some lofty price targets. More than likely this will not happen. Nov was a negative month and Dec is also turning out to be a negative month....

mggagni

ETH/BTC looks like it wants to resolve higher. I think it does and it looks like crypto will continue to do well for the rest of the year

mggagni

Line in the sand is $3,200

mggagni

Similar to MSFT, FB is hitting some resistance as we head into earnings. FB is going to be a big player in the metaverse and just like MSFT, I like FB for the long term

mggagni

Is this a failed breakout as we heading into earnings? I still like MSFT for the long term

mggagni

SPY just broke above the 1.618 extension level from the 2020 decline. Next target is $535

mggagni

Lets see if this breakout holds

mggagni

Next target $900