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$QQQ Wedging on the 65 Minute Chart (VCP)NASDAQ:QQQ is clearly in a wedging pattern. These types of patterns “usually” resolve in the direction of the larger trend. In this case that trend is still up. This is a news driven market now so anything can happen. I have an alert set at both the top and bottom of the wedge lines. I do not plan to short this market, but should it break down, I may want to reduce my exposure. And if it breaks to the upside, I may add more exposure. I am giving my observation of the market. Nothing more.
NASDAQ:QQQ
by jaxdog
$CWAN Ready to Break Out of The Flat Base? NYSE:CWAN is a name most of us have never heard of. They serve hedge funds, asset managers, and insurance clients with Analytic software. It looks like it is in the process of putting in a higher low. It has regained the 8 and 20 EMAs and the MACD has turned positive. It can still go either way. There is overhead resistance at both the upper horizonal line on the chart and the now downward sloping 50 DMA (red). I have an alert set on the upper resistance line around 29.50. Should that trigger, I will go to a lower timeframe like a 5-minute chart to see if I can get a good entry. My stop, if I take the trade would be on a close below the 20 EMA (green). Making for a tight and good risk reward trade. I do not set targets, but I do think it has a chance to get back up to around 32.00 – 32.50. Which is around a 13% gain if that were to happen. If you like this idea, make it your own trade that fits your trading style.
NYSE:CWANLong
by jaxdog
$QTUM Maybe Trying to break out of This Wedge (VCP)I have been long this name for a few months now in my investment account. I have added more today with a stop on the added position size just below today’s low. There are some very big names in this ETF, it invests in AI learning as well as Quantum Computing. It looks to me to be in a Volatility Contraction Pattern (VCP), more popularly called a wedging pattern. I went long more shares as indicated above in anticipation of a break above the declining upper trendline. It also is supported by both the 8 and 20 EMAs and has consolidated to get more inline with the 50 DMA (red). If you like it, make the trade your own and make sure it fits your trading plan. Look at the fund holdings in “More About Fund” link supplied by TradingView. Here are some of the names you might recognize: NASDAQ:KLAC NYSE:IBM NASDAQ:PLTR NYSE:RTX NYSE:BABA From Defiance ETF Website: QTUM Index Description: The BlueStar® Machine Learning and Quantum Computing Index (BQTUM) tracks liquid companies in the global quantum computing and machine learning industries, including products and services related to quantum computing or machine learning, such as the development or use of quantum computers or computing chips, superconducting materials, applications built on quantum computers, embedded artificial intelligence chips, or software specializing in the perception, collection, visualization, or management of big data.
NASDAQ:QTUMLong
by jaxdog
$TAN Is This Getting Ready for a Stage 2 Breakout?Clean Energy (Solar) has been in a downtrend since January 2021! Every time it looks like it is setting up for a stage 2 breakout, it has broken down. Will this time be different? Here is what I see on this chart. TAN was in a clear downtrend until mid-December 2024. Then it challenged its previous high from the beginning of December. That failed BUT, it seems to have found a bottom as here we are in early February, and it has not sunk any lower than the December lows. I am optimistic that we may be ready to enter a Stage 2 uptrend. However, it has work to do. The first step is to get up and over the 50 DMA (red). Next it needs to break the Downtrend line. It also needs to put in a higher high and finally put in a higher low. As I said, it has work to do. Having said all of that, I have an alert set just over the 50 DMA where I will look for a good entry where I can put in a tight stop should I decide to make the trade. IF, it is going to enter a sustained uptrend it “could” be a big winner. All TBD. These are my ideas, if you think it makes sense for you, please make it your own trade that fits within “your” trading plan.
AMEX:TANLong
by jaxdog
3
2/03/2025 Weekly Analysis + WatchlistSPY - Failed 2U week after going outside month the week before. Not super shocking, but now we sit in an interesting spot. The new month will open inside bar and has to either take out previous month highs (Which is ATH) or Jan Lows. Seeing that the range is pretty wide for downside, It will take less effort to make new ATH. Not that it means a whole lot, but that is something to note. Next, we see the week closed failed 2D, but is pretty much slapped right in the middle of last weeks range, so it will take an equal amount of effort to make a HH or LL. Finally, from a daily perspective we have a large failed 2U with slight PMG to the downside. We are definitely primed for a sharp corrective move Monday, but of course anything can happen, we are just much closer to seeing the bear scenario than bull. In my mind, the ideal weekly scenario is this: Monday sees sharp corrective move, taking out the PMG guys, then the rest of the week climbs, triggering the weekly 2-2 Rev, which then ideally sends us into ATH once more before seeing either BF expansion on the Month (since we would go 3-2U.), or seeing us start to come back through last months range for a larger corrective move. In the pure bear scenario, we trigger the daily reversal, head down to weekly 2-2 cont. trigger, then see if we can make progress down back through a few daily gaps, ultimately targeting prev month low for the 3-2D M. Given that we are going into a new monthly open after going 3, we could very easily just chop and go nowhere for the week seeing as we may just remain inside week with the month being inside to start out before possibly seeing control more clearly dictated in the 2nd/3rd week of Feb. Main advice regardless is to trade things that are moving early on like gappers, and anything where the month goes 2U or 2D in the first week. Avoid inside bars if possible and trade light! Main setups for the week: Bull: GE - Inside D and W ORCL - Hammer W to head back through D gap. Cautious with this one MRVL - Weekly 2-2U. Daily gap fill to the upside after giant gap down to exhaustion risk Bear: BA - Shooter 3-2D weekly. Bear Revstrat daily. Daily BF looks solid. MSFT - MoMo Shooter M, 3-2D W, Daily 2-1-2D. Check daily BF. Still has magnitude after massive ER drop VZ - Weekly 2-2D, Daily shooter 2-1-2D, FTFC Red. Check daily BF Neutral: RKLB - Inside week. Nuclear Green FTFC and super crazy ATR lately
AMEX:SPY
by Alanger17
Russell 2000 $IWM Trending UP versus Nasdaq $QQQ Here is a ratio chart of the Russell 2000 Index etf called AMEX:IWM and the Nasdaq Composite Index etf called $QQQ. The NASDAQ:QQQ returns over the past 7+ years have been extraordinary while the AMEX:IWM has been stagnant at best and hasn't beaten inflation. That ratio of performance has just turned in a way that suggests the AMEX:IWM will outperform the NASDAQ:QQQ for the next 11 weeks to the tune of 10%. The ratio has already moved up last week by 4% of the 10%, so there is only another 6% to go for this signal. If there are any pullbacks of 1%-2%, those would be lower risk entries as the distance to the "stop" level at 0.45 vs 0.4704 last would be less. The target is 0.51 vs 0.4704 last. So follow this ratio for the next 10 weeks and see if even more relative outperformance happens. Over the next few years, it is possible for AMEX:IWM to do 50% better than $QQQ. We would need lower oil prices and lower interest rates and some rational pricing in the big tech names that are over $10 trillion dollars now for 3 companies: NASDAQ:NVDA , NASDAQ:MSFT and $AAPL.
AMEX:IWMLong
by timwest
1
Why Blind Index Investing Could Be Costing You Thousands?!Index-based investing has been one of the most popular ways to grow a long-term portfolio for decades. Today, it has become even more accessible and favored, offering a safer foundation for investing and generally carrying lower risk compared to portfolios composed of individual stocks. For someone like me, a technical analyst, index investing isn't exactly an adrenaline rush. Under societal pressure, I decided to test a few hacks and dive deeper into it ;) I set out to compare three of the most popular U.S. index ETFs – SPY (S&P 500), QQQ (Nasdaq 100), and IWM (Russell 2000) – and analyze how to implement a brief technical analysis into index selection could influence long-term results. Starting in 2005, I "invested" $1,000 every quarter, completing a total of 81 test purchases. Each time, I selected the index that technical analysis suggested was in the strongest position. If done strictly and consistently, there were often situations where all three indices had just reached their all-time highs. In those moments, I had to make a choice. Technical analysis is not just about drawing lines on a chart – experience, market intuition, and behavioral patterns of the price play a big role here. My Test and Strategy The goal was to compare the following three U.S. index ETFs: - SPY (S&P 500) - QQQ (Nasdaq 100) - IWM (Russell 2000) Test conditions: - Start date: 2005 - Investment period: 81 quarters - Mandatory quarterly investment: $1,000 - Index selection: Based on technical analysis and market intuition. Distribution of trades during the test period: - SPY: 35 times - QQQ: 31 times - IWM: 15 times The chart illustrates SPY, QQQ, and Russell with blue arrows marking purchase points. Results of the Experiment Performance of my strategy: - +344% return - Invested: $81,000 - Final value: $360,000 Comparison indices (each quarter regular purchases): - SPY: +233% (final value: $272,000) - QQQ: +579% (final value: $552,000) - IWM: +128% (final value: $186,000) My strategy outperformed SPY and IWM because I focused on selecting the ETFs in the strongest technical condition at the time. While QQQ delivered higher absolute returns, my diversified approach offered competitive returns with lower risk and more stable outcomes. Key Takeaways 1. Diversity and Stability: Risk Mitigation and Return Optimization The goal wasn't just maximum returns but also reducing risk and adopting a smarter approach. While QQQ had the highest returns, remember that it is heavily concentrated in the technology sector, making it riskier. Back in 2005, it wouldn't have been easy to predict that QQQ would outperform. A technical analysis strategy allows for risk diversification by choosing the strongest index at any given time, delivering significant returns while maintaining diversity and stability. 2. Thoughtful Regularity Outperforms Blind Regularity Strict quarterly investing avoids the biggest mistake investors fear – timing the market. Regularity is crucial, but it needs to be thoughtful. The tests showed that blind purchasing could be costly: for instance, regular SPY purchases would have left $100,000 on the table, and IWM even more. My strategy allowed selecting the strongest index at each point, yielding significantly better returns. 3. Wrong Index Choice Can Be Costly Had I chosen only IWM throughout the period, my return would have been just +128%. This clearly shows the importance of not sticking to one index but instead evaluating regularly to find the one with the greatest potential at any given time. How to Choose the Best Index: Follow my Newsletter to Guide You One of many of the topics of this newsletter (You will find it here, in the profile section, visiting my "website") will be sharing my monthly and quarterly top lists of indices, making regular purchases easier for you. The test proved that sticking to one index isn’t the best way forward – but which one should you choose? That’s where the monthly top list comes in. I firmly believe this strategy and approach have significant potential to help investors make smarter and more confident decisions. That’s why I’m starting a newsletter, where one of the many topics will be sharing this list regularly: - The technically strongest indices for investing. - Explanations of why a particular index is technically more attractive than others. Conclusion My research proves that technical analysis and understanding of charts can be powerful tools for long-term index investing. Regularity, fact-based decisions, and risk diversification help achieve optimal results. Your portfolio deserves better decisions. Don’t waste time analyzing indices yourself. All the best, Vaido
AMEX:SPY
by VaidoVeek
1
SPY Mid week analysis 1/14/25SPY - Monthly reversal is now being negated as we moved back above the monthly 2-2d trigger at Prev Month Low. We are also now failed 2D coming back through previous week range. The daily went 2-2 rev, but closed failed 2u as we made higher highs, but closed red near mid range of the day. The question for tomorrow is do we continue pushing back through last weeks range to expand the BF created by the 3 from last week, or do we take the failed 2u - 2D reversal, reconfirm the Monthly reversal down as well as the weekly 3-2D. We have a 3-1 setup on the 4HR as well as an inside bar 60 which is what I will be watching going into open tomorrow assuming no gap up or down. Should be an exciting rest of the week as we look to see if bears can reclaim control on the W and M, or if Bulls are setting up for a recovery back to ATH. Levels to watch: Current 60 inside bar High and Low, Current 4HR bar high and low, Prev month low, 585.96 for upside which is the 2-2U rev target we did not get to today, but may compound 2Us tomorrow to get to if the bull scenario is playing out.
AMEX:SPY
by Alanger17
SPY H&S is breaking. The market may have just flipped!H&S Broke it's neckline and the overall $580 Support. We are seeing this break of support across the NASDAQ:QQQ AMEX:IWM as well. This is all leading me to believe strongly that we are now in a crash or correction in these markets. I personally sold out of all my TRADES and am HOLDING and DCAing in all my INVESTMENTS. The difference here is my Trades where to the upside and with the markets telling us where we are most likely heading now I am not staying in trades to find out if it will be for 5% or more to the downside from here as this would lead to all long trades getting pulled to the depths of hell. There are no certainties, and before, based on what I was seeing, I said I believed we would bounce and hold this area (Which could still be the case), but all reasoning behind that has been ruptured, and I have nothing left to believe in that besides small criteria. To be a good or profitable trader, you need to be not stubborn, follow a set trading strategy, and be reactive to the markets and what they are telling us—not go against the overall trend! All we have are charts and indicators to help us make our best assumptions of what will happen. More criteria pointing in one direction is the way you have to assume we will go...well we went from pointing up and for an imminent bounce to most criteria pointing down for what will either be one of the biggest fake outs ever's or a correction/ crash in the markets after a massive 2 year bull run. Only time will tell at this point, but I wanted to make this post to inform everyone here about what I personally did and what I'm seeing. I DID TALK ABOUT A CORRECTION/ CRASH THIS YEAR IN THE MARKETS IN MY 2025 PREVIEW BUT SAID SECOND HALF AND THAT WAS MY BEST GUESS... As always this is NOT FINANCIAL ADVICE and NEVER WILL BE! Everyone needs to play their own book and make their own ADULT decisions.
AMEX:SPYShort
by RonnieV29
17
Where is the Stock Market Heading? Forecast & Analysis thread!Where is the Stock Market Heading? 📈📉 Stock Market Forecast & Analysis🧵 In this thread, we’re breaking it down for you: -TA on TVC:VIX NASDAQ:QQQ AMEX:SPY AMEX:IWM TVC:VIX -Economic Data -Insights & Predictions Let's dive in friends! Not financial advice NASDAQ:QQQ Monthly Chart analysis: -H5 Indicator is GREEN -We are above 9ema and smoothing avg. Most importantly we are still within our Williams Consolidation Box which is my personal strategy I use with the Wr%. As long as we stay within the confines of this Box we will continue to climb higher on the Q's outside of pullbacks. Weekly Chart Analysis: -H5 Indicator is GREEN -Held volume shelf -Wicked back above 9ema (BULLISH) -Ascending triangle patterns Measured Move has not been realized yet. $580 -Created a Hammer Candle which is a reversal candle found at the bottom of downtrends, pullback, or corrections. Had a Normal 6% Pullback and bounced hard around the S/R Zone. Everything I'm seeing is BULLISH going into CES2025 week and I believe we continue back to ATH's! TVC:VIX First up we have the Volatility AMEX:SPY Index which spiked up due to the FED dropping a FUD Nuke on the markets heading and causing the largest one day volatility spike in 2024. But, as you see below we have fallen in line since that day. We have created a bearish flag pattern and broken down through the base and should continue to flush lower. Keep in mind 60-70% of breakouts (either direction) come back to retest the point of the breakout area. Could see this happen with FOMC minutes being released this Wednesday. AMEX:SPY Monthly Chart analysis: -H5 Indicator is GREEN -We are above 9ema and smoothing avg. -Wicked off previous resistance flipped into support Most importantly we are still within our Williams Consolidation Box and thriving! $650 2025 PT! Weekly Chart Analysis: -H5 Indicator is GREEN -Wicked back above smoothing line -Created a Hammer Candle right above 9ema Had a Normal 4.35% Pullback and bounced hard around the S/R Zone. Everything I'm seeing is BULLISH going into CES2025 week and I believe we continue back to ATH's on the SPY! AMEX:IWM As I've stated in other posts the CAPITALCOM:RTY typically runs and plays catchup to the SPY and QQQ towards the end of bull runs and before the big corrections or crash comes. Weekly Chart Analysis: -At the bottom of an uptrend channel -Sitting on a massive volume shelf -At a massive S/R area -At the retest point for the Multi-Year CupnHandle breakout! With a Measured Move up to $306. Thats the same measurement of the CAPITALCOM:RTY catching back up to the $SPY. ECONOMICS:USCIR - Core Inflation Rate YoY Inflation is dead and falling like a rock! I don't hold any weight into what the FED was saying about inflation when he was the Grinch and spreading FUD. The FED is always to slow to do what is needed to be done and right now that is to continue to cut before things in the economy start to break due to higher rates. They raised rates to SLOW and they are choosing to cut rates to SLOW! What I'm seeing is we will continue to fall with small pockets of bounce backs in inflation on the overall down trend to sub 3 then sub 2 as you can see on the chart with the yellow levels. Overall Economic numbers are very positive and have been beating what the experts have been forecasting in December. We have some more data coming out this week and we will see if that trend continues. Like I said in a separate post, the FED has been talking about a boogeyman and spreading FUD but the DATA and NUMBERS show the BOOGEYMAN isn't REAL! Thanks for reading friend! If you enjoyed this analysis and forecast of the markets please like/ follow/ share if you feel I deserved it! ALL SOCIALS/ LINKS IN SIGNATURE BELOW AND PROFILE.
AMEX:SPYLong
by RonnieV29
4
Crypto & IWM Leading the way higher!At the beginning of the month, I anticipated a necessary pullback due to the red barrier on the Wr%. While I accurately predicted the pullback, I underestimated its severity and was slightly off on the timeline. As a swing/long-term trader, I'll accept minor discrepancies in the degree of severity and timing. In a previous video and subsequent write-ups, I emphasized that Crypto CRYPTOCAP:BTC , CRYPTOCAP:ETH , and AMEX:IWM , CAPITALCOM:RTY would lead us out of the DIP. This week, we are witnessing exactly that! Crypto and the Russell 2000 are bouncing back stronger than NASDAQ:QQQ and $SPY. In my 2025 preview, I discussed how AMEX:IWM has lagged behind since its peak in 2021. Before this bull market truly ends, we need a catch-up rally where the Russell launches itself at the SP500. I believe we will witness this in 2025, culminating in a blow-off top similar to 2021, followed by a significant correction crash. Not financial advice.
AMEX:IWMLong
by RonnieV29
5
12/30 Watchlist + NotesAMEX:SPY - Short week from Xmas leaves us with an inside weekly setup to start the new year. The way 2-1-X and 3-1-X setups (Inside bar setups) work, is they either confirm what happened previously, or negate it. In this specific scenario on the weekly, we have a large red week of selling (2D, followed by a pretty neutral inside week (1). Next week either goes 2D, confirming the selling from the previous week and therefore showing evidence of continuation lower, or we negate that selling by making a higher high (2U) and looking to reclaim the highs from the big red week from when FOMC occurred. We can't predict which way the next week will go, but we can at the very least imagine what has to occur for both bull and bear scenarios to be successful. Simply put, above last weeks high means we are targeting the weekly high from the week prior to last week. Below last weeks low means we are targeting the weekly low from the week prior to last week. Break either side and come back into last weeks range means we are failing to confirm/negate what the signal is indicating, and then we target the other side. EX: Monday pokes above last weeks high but closes red. We then would look to engulf the week and create a 1-3 combo on the weekly. This week should be similar to last week, meaning it may be tougher to trade since we have a few negative considerations and less ideal conditions to trade. Considerations for the upcoming week: For starters, we have another short week with new years day on Wednesday being a full day closure for the markets. Short week means less time for weekly candles to form, and therefore, likely chance of less volume to occur compared to normal weeks. Secondly, its the new year! This means we see all new candles on every timeframe up to the yearly chart. So, new Year, Quarter, Month, Week, Day, Hour, etc. Because of this, we will see issues with decoupling. This means the Year, Quarter, and Month will all be the same exact candle until we get to the second month and quarter of the year. Because the week starts in 2024 and ends in 2025, the week will be decoupled, but the M, Q and Y will not. Again, not the biggest issues ever, but just considerations to have in mind. Weekly Watchlist: (Side Note: I have added all of my charts for individual tickers mentioned for further clarity on what I am seeing with these setups) Bullish: NASDAQ:MRVL - 3-1-2U W to confirm bright green M, Y NASDAQ:AVGO - 2-1-2U W to confirm FTFC Up. Relative strength. 4HR 2-1-2U and 1HR 3-2U for Intraday entries Monday Bearish: NASDAQ:SMCI - Shooter 2U W to confirm failed 2U month. Super nice Daily BF NYSE:AI - 2-1-2D W to trigger Shooter failed 2U M. Gorgeous monthly Broadening Formation. NASDAQ:MSTR - 3-1-2D W. BTC with a weak setup on the major TFs. Looking to capitalize through MSTR and other names in that space NYSE:BRK.B - Shooter 3 D. Weekly 2-2U too weak to hit magnitude last week. Month is 3-1 but big red currently. May be early on this but with similar setups in the Financial industry, this is one I want to watch. NASDAQ:AMD - Hammer revstrat D to trigger Weekly 2-1-2U at Monthly Exhaustion level. Yearly has a nasty bearish revstrat setup forming, but if we are just daytrading this, it looks good for an exhaustion play intraweek. Otherwise will be watching all next year for that Y revstrat to play out Neutral: NYSE:SHOP - 3-1 W. Month Failing 2U. NASDAQ:NVDA : Currently Shooter 2U W. Normally this is just bearish, but the 2W chart can go hammer 1-2-2U, and M is 2D but close to open meaning it is failing that downside signal. I could see this going either way, but its such an interesting setup that I wanted to include it.
AMEX:SPY
by Alanger17
12/22/24 Weekly Watchlist + NotesAMEX:SPY - Huge sell off across the board from FOMC news on Wednesday. SPY sold off down through previous Broadening Formation range reclaiming previous downside pivot just below 684. So with that in mind, we expand out of the BF below that pivotal low, or come back through range above it. With SPY currently setup to potentially go 3-2 daily, we look to see whether fridays high or low gets taken out. Being above the pivot at 684, we are looking to come back through that BF range and make new ATHs as of now. Of course this can all change depending on whether our W is green or red, but for now we are closer to making a daily HH than a LL. With Christmas being this week, the markets close 2 hours early on Tuesday, and re open on Thursday. Being a short week like this, we need to be extra cautious as there will be lower than normal volume, and simply less time for the weekly candle to form, so expectations on a large move this week as most seem to be predicting, may not happen for the prior reasons. Personally will not be trading Tuesday and possibly not at all this week if I don't see absolute A+ setups. Watchlist: Bullish: NASDAQ:NVDA - Pot. 1-3-2U Daily to trigger failed 2D hammer week. Swept BF lows this past week. Looking to come back through range. This is a big name for the markets, so I expect that if the markets are recovering, this will lead the way or follow with it NASDAQ:MU - 2-2U reversal potential daily to target gap fill from ER. We took out weekly BF mag on friday, hitting exhaustion levels after finally escaping the motherbar it was stuck in for the last 11 weeks. One side gets toasted, magnitude is hit for W and M. All the ingredients for a big recovery. Only issue is being stuck in last weeks range NASDAQ:PLTR - potential 3-2D for a simultaneous weekly 2-1-2U trigger. Nuclear green on all TFs. Slight room to go to target ATH again, but mainly looking for the weekly inside up measured move, meaning if we go 2-1-2U, we can expect the same move up as we had in the week prior to last weeks inside bar week. Cruise Lines: NYSE:CCL + NYSE:NCLH Weekly hammers. NYSE:RCL Not a clean weekly AS, but similar daily to other names in the industry. Bearish: NASDAQ:TSLA - 3-1 4Hr to trigger MoMo shooter Daily to trigger Shooter Weekly 2-2. Daily PMG to target from ATH Exhaustion. (Big green day for most names Friday, why was TSLA so bearish with such relative strength lately?) NASDAQ:AVGO - Shooter 2U Day to trigger 2-2 shooter week. Huge gap up from earnings. Looking to attack the gap. NYSE:KO - MoMo Shooter 2D day to trigger 2-1-2D week. Having issues making range lately, but daily BF is targeting lower still, and weekly 2-2d has yet to be negated. Inside week will confirm more downside to target our BF magnitudes on the D and W, or it will be negated by a 2U week. Simple plan here. Short under prev week low, exit if back above. NYSE:UBER - MoMo shooter 2d Weekly to reconfirm M 2D and Q 2U going 3. Check Monthly for the BF. Wanna see continuation lower to Q mag at 54.84. No daily AS but 3-1 4HR. May be a slower mover on the list. Basing all my decisions on the weekly as the momo shooter should simply just trigger and work
AMEX:SPYLong
by Alanger17
IWM | Bullish AMEX:IWM Resistance Levels: There is a significant resistance level at around 224.02. The price needs to close above this level to confirm a breakout. Another resistance level is at approximately 233.64. Support Levels: The immediate support level is the trendline, which has been acting as a resistance until now. This trendline is likely to act as a support if the breakout is confirmed. A secondary support level can be seen at around 227.13. Potential Targets: If the price closes above 224.02, it signifies a breakout from the current price channel. The first target after the breakout would be around 233.64. The second target, based on the price projection, would be approximately 244.46. Indicators: The RSI (Relative Strength Index) is currently around 63.34, which is above the neutral 50 level but not yet in the overbought territory. This suggests there is still room for upward movement. The price action shows higher highs and higher lows, indicating a bullish trend. Volume: The volume seems consistent, supporting the upward price movement. Higher volume on a breakout above 224.02 would confirm the bullish sentiment. Conclusion: If IWM closes green today above 224.02, it indicates a breakout from the current price channel, suggesting a potential further upside. The first target would be around 233.64, followed by 244.46. This position could be highly profitable for call options and futures contracts if the breakout is confirmed and sustained.
AMEX:IWMLong
by shkspr
Doubt Me If You Want, But My Strategy Speaks for Itself!NASDAQ:QQQ AMEX:SPY Do you see how my Williams CB is one of the best strategies out there for predicting markets short & long term moves? How coupled with my H5 trading strategy it gives me the best chances to beat these crazy markets. Two weeks ago we were at the top and called for a no more than 3% market pullback. I was wrong and right at the same time. We got a pullback but it wasn't what I anticipated but who anticipated the FED nuking the markets yesterday? Nobody but the FED. I show you this so you understand when we get to the barrier we don't know what it's going to be that pulls the market back or causes us to consolidate and peel off the red barrier. BUT, we need to understand where we are at and that running into the barrier is not the time to be adding to trades or exploring new ones. It's the time to take profits, consolidate, and maybe hedge a little. I'm not putting this out to be applauded or to act like I'm some type of Oracle. I simply want to show all my friends who have decided to stick it out with me the last few days when others chose to leave that you can entrust in my strategies and I will teach you everything I know so you can beat the markets on a consistent basis too!
NASDAQ:QQQLong
by RonnieV29
16