Facebook - Filling the gap (BULL)Back in the middle of June, we jumped over $182 to $185 approximately.
We are in a short-term bull trend, a support at the 200SMA.
If we can fill the gap (check chart), we could see a rally up to $200.
Gapfill
SPY just did a 180... my calls are LOVIN it!!!Check me out on YouTube: Dumb Money Trader
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DISNEY - Short selling opportunity - Formed a H&S pattern and break through the neckline
- With a large gap to fill, price is likely to go down
- Looking at the supply candles, seems like there are people who already shorted at that level
SPY primed for move up after throwing a fit! Going higher.FYI: I am working on an awesome options video for my YouTube channel (Dumb Money Trader). I should have it posted by Friday or Saturday... make sure you check it out if you are unsure right now about options. They are my personal favorite equity to trade.
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EROS a mid-to-long-term gap fill candidate with earnings Oct 8EROS is a Bollywood production company making big moves to try to dominate India's booming streaming market. Eros recently went on a 200% run after signing several major streaming contracts, including a deal with Microsoft to stream Eros content on the Azure platform. The stock price then cut in half as it first pulled back from overbought territory, then broke down even further on news that the company took on a $27.5 million debt due in 2020.
(This is something that often happens after announcement of a new product offering: the stock price initially shoots up, then breaks down on news of a new shares or senior notes offering to raise capital for manufacturing or marketing the new product. Shorting cash-poor companies after a big product announcement runs up the stock price wouldn't be a bad strategy.)
Anyway, for the moment Eros has found a floor around 1.80. It has support from there all the way down to about 1.14, with the strongest support nodes around 1.65 and 1.32. This is a decent time to take a small position for a mid-term swing. The stock is likely to get further news boosts as it implements its streaming deals and launches its content on the various platforms.
One short-term risk is the earnings report on October 8. Eros is reporting earnings later than usual, which often bodes ill for earnings results. (Late earnings tend to be worse than expected, whereas early earnings tend to be better than expected.) If Eros's earnings miss, the stock is likely to break down to one of its lower support levels-- perhaps even the very bottom of the support range. I would look at that as an entry opportunity. So if you do take a small position now, save enough cash to at least triple the size of the position after earnings if the price breaks down.
In the event that Eros beats earnings and/or begins to run up again on implementation news, it's got plenty of room to run. 3.00, 4.00, and 5.00 are all conceivable in the mid-term. In the longer term, this stock has the potential to break out above 5.49 and then very quickly fill the gap up to 7.23.
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Dow in C leg of ABC Correction: Bounce After or Rejection at TL?Chart says all. Looks quite Bearish but no capitulation as of yet. C waves tend to be fierce and furious. See what it does when Gap fills from 9/04.
Bulls will likely return for another crack at ATH if they can hold the line near 26200. SPX should find support near 2900, at least in this first downdraft. Second support at 2860; breakdown through these levels will likely lead to panic selling and capitulation down to August prices or lower. It is possible a Bear Market is beginning, but too soon to tell.
Have to see if an ATH can be developed by EOY. Trade day-by-day now and hold ur hand close! Rejection from the wedge TL on a bounce could lead to a fully developed 5-wave Elliott impulse downtrend. Failure in China will certainly precipitate this kind of Bearishness.
RUT is getting killed and shows greatest weakness. Expect Flight to Quality to boost US 30 more than NQ, RUT. SPY has been most Bullish of these and might suffer less.
Just an idea, not advice; trade at your own risk!
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GAP needs to be filled - 1.0780 - EUR BEARISH Long TermHello traders,
There is currently a gap in the market which is yet to be filled at 1.0780.
Any short term spike in the market is an opportunity to sell lower.
Germany is in a recession and the EU as a group is not far behind.
The ECB has also cut interest rates into the negative territory, therefore the EUR is bearish long term.
The DXY is due a pull back lower, therefore we could see some upside on the EURUSD before it breaks lower.
Major resistance at 1.1350 - Great entry for short position
Long term we could see the EURUSD down at 1.0600
Please let us know your thoughts on the set up
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WTI filled gapI would wait for retest of support and then long... At actual price it would be only 1:1 RRR and that is too risky :)
US 30 in ABC Correction? Road to ATH; in Handle of CupVolume lessens on rising prices, increases on downdrafts. RSI divergent. Small caps have reached .50 Fibo retrace off September's lower high.
SP500 and Dow have a gap to fill down to the 0.50 Fibo.
Three-day rally feels like a B wave, chaotic and widely fluctuant. If so, expect C wave down to the gapfill at the breakout point from Cup near 26300/SandP 2942.
A hedged short here is probably a fair R/R as EOM 'window-dressing' is likely to finish what seems to be a modest correction. The ABC is consistent with Intermediate Wave 2 of a Primary wave 3; markets should enter third-in-third wave on completion of the modest correction. A severe tankoff would invalidate this hypothesis!
IMO another major October downdraft is unlikely as these rarely happen two years in a row; but anything is possible in this mad market.
Taking a small short position on indexes with the gap up in AM on 9/27; this gap will very likely fill in day; first week of October is likely to be choppy.
Completing a corrective wave might coincide with positive trade news in Mid-October; if the outcome is disappointing expect a deeper selloff.
Still very chancy. Indicators to watch: RUT strong support at 1500 (IWM 150, now trading near 153); small caps have been a leading signal canary.
I'd close shorts with IWM at 150; DIA at 264; SPY at 294, if and when they get to these prices. An ABC complete wave could well provide launch point for next bullrun.
Longer-term still Bullish going into New Year, I'm not convinced this appearance of H&S in the monthly chart is really going to rollover. We shall see!
This isn't investment advice; just an idea, trade at your own risk; GLTA!
All gaps must be filled?There is still a CME futures gap that is yet to be filled between 8500 and 9015 USD. All previous gaps seem to have been filled.
Looks like Bitcoin may be on the path to filling this inside the downward channel.
TWTR has a little more upside left but is headed downThanks for checking out this post, sorry about the right side of the graph, if you take your time with it I think it'll make sense, everything there is important, and I'll answer any questions you may have. I think right now we are in a B wave of an ABC to the downside, details are in the chart visual and verbal.
Gold gap down to recovery/gc gapped down but not much and has already filled. Looking for this to be bullish stil. Like for it to break the drawn trend line for confirmation. Still see this reaching the above supply zone. Held GLD here and will continue to hold.
Gap filled. Time to buy??ROKU has been slaughtered over the last couple weeks. Is it time to buy for at least a bounce? I'm leaning towards yes... but I haven't really gotten an entry reason.
ROKU fell more than 40% from wick to wick on the candlestick chart. That's pretty incredible... however, they have had a tremendously good year. I'm not saying they will go up and retest their all time highs, but why not make a little money off a bounce that is bound to happen at some point. That some point might be now.
xagusd 21 dollar soonSilver will hitt 21 dollar per ounce, after retested the last gap , there is a new gap.
If China buys more silver tonight we could reach 20 dollar per ounce.
If China doesn't buy and short ; then we will retest the last gap around 17.300 and 17.400.
Have a nice and risk management week
Walmart Readying Itself for EMA Correction After Island ReversalNYSE:WMT has been beaten around lately after a report found they were mistreating a group of 178 female workers. After a gap down, more selling off, and then a rebound just above the widely used 200-EMA, it is now seemingly gearing up for a a bullish reversal out of an island reversal chart pattern.
Green line: island reversal trajectory
Orange rectangle: Gap zone with necessary breach for bullish confirmation.
I would not enter a bullish position on NYSE:WMT without seeking this confirmation first.
USOIL - Bearish Cypher PatternThis could be interpreted as a bearish cypher or gartley (depending on the placement of point C) that invalidated the descending triangle we were previous in.
By no means am I going short oil given the geopolitical sh*tstorm that is brewing, however in the case of a pullback from point D, I believe the 0.382 and 0.618 targets (green) that fall inline with the open gap that needs filled are attractive areas to go long.
Will they get hit in the near future? I doubt it. However, it is just something to keep an eye on.
Best of luck!
Apple to fall despite tuesday release?Apple jumped into a "zone" last week. Last two times we seen a pretty good drop from this area. We also have a "gap fill" possibility below. I like bearish positions on this with break out the bottom of the zone, played back to the EMAs and possible further. With NQ looking bearish just adds a bit more confirmation.
Bearish for Monday on SPY 1 hour!!Couldn't break above long-term uptrend AGAIN, volume declining, RSI overbought, volume divergence since the gap up, and the gap needs to be filled (well, usually they do...).
Clearly the market was not overly impressed by the end of day on Friday. The entire day was flat, and .2 was shaven off SPY in the last few minutes of trading and it almost closed at 0 or just below.
I have an open SPY call that I hedged with TVIX. I think Monday will be red. Depending on the futures action tomorrow night, I may buy a vertical put spread as well. I will go short until the gap is filled, unless something drastic happens and it decides to keep going up.
Bullish GartleyAbout CFMS
Conformis, Inc. (NASDAQ: CFMS), is a medical device/ technology company that uses its proprietary iFit 'Image-to-Implant' technology platform to develop, manufacture and sell patient specific joint replacement implants that are designed to fit each patient's unique anatomy.
Technicals
Bullish Gartley pattern (786 retracement)
Fibonacci confluence at the 1.272 extension
382 continuation pattern (Keeps bouncing off and making higher lows-- if it continues it could be used to further add)
In-line with Fibonacci time-cycles
RSI pushing higher on Daily and Weekly
Potential gap up to fill up to the $2.75 level.
Conclusion :
CFMS has sufficient funds, great management and recently received some 510 certifications while broader markets were selling off. Looking to re-claim those prior gains. Will revisit the trade at or around time of the gap filling.
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Disclosure: I am long CFMS. This is not a note to buy or sell, please do your homework before investing.
