Nothing More Than What I See!!!Well folks, I really put it out there today... 4 chart expectations...
Last but not least, let's talk about NASDAQ:QQQ I am about a week late to this party and may have to readjust sooner than later on this one...
I laid out some support levels in dark blue...
Looks like Sloping Support is in tact...
Visual test of Triple Top, does it break upward from there???
Anyone ever heard of Higher Lows???
I am Very Comfortable snagging NASDAQ:QQQ 494C expiring 9/27 on another Run To ATH
Again, I don't know a darn thing... I'm just sharing what I see... Sorry for yall, the optometrist says I need glasses!!!
I am by no means a professional investor, stock analyst, or financial advisor... I am a tier lower than an amateur beginning trader, so please do not jump into any recommended trades without doing your own research!
QQQ
QQQ: Bearish Continuation is Expected! Here is Why:
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the QQQ pair price action which suggests a high likelihood of a coming move down.
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Stock Market | TSLA NVDA AAPL AMZN META GOOG MSFT AnalysisCurrently a cautious bull
QQQ Forecast
Sp500 ETF analysis
Nvidia Stock NVDA Forecast Technical Analysis
Apple Stock AAPL Forecast Technical Analysis
Microsoft Stock MSFT Forecast Technical Analysis
Google Stock GOOGL Forecast Technical Analysis
Amazon Stock AMZN Forecast Technical Analysis
Meta Forecast Technical Analysis
Tesla Stock TSLA Forecast Technical Analysis
QQQ The Target Is DOWN! SELL!
My dear followers,
I analysed this chart on QQQ and concluded the following:
The market is trading on 482.42 pivot level.
Bias - Bearish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bearish continuation.
Target - 465.55
Safe Stop Loss - 492.36
About Used Indicators:
A super-trend indicator is plotted on either above or below the closing price to signal a buy or sell. The indicator changes color, based on whether or not you should be buying. If the super-trend indicator moves below the closing price, the indicator turns green, and it signals an entry point or points to buy.
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WISH YOU ALL LUCK
Why The Fed Lowered Rates - My Opinion Part IIThis is Part II of Why The Fed Lowered Rates - My Opinion
The only reason the Fed lowered rates by 50bp this week is because the global markets are reeling under pressure from a strong US-Dollar and a strong US economy.
Without any relief, the new POTUS would enact new policies and push them through Congress, and the US would start another spending spree—pushing the US-dollar-based assets even higher and driving the capital flow into USD-based assets even further.
That capital flow is harming foreign economies, and global central banks have been trying to fight the tide of a very strong US dollar for more than two years.
If the Fed had not lowered rates, we would likely start to see severe pressure on global central banks and possibly even governments/economies over the next 24-48 months.
This is a way for the US Fed, and thus the US economy, from potentially being dragged into a global contagion event after 24+ months of reducing global money flow/function.
Simply put, the US Fed gave in to global central bank concerns related to a strong US economy/Dollar compared to their weaker currencies/economies and the pressure being exerted by a decoupling global economy.
Even though the lower US rates may provide some relief for the global market, the pressure on global currencies/economies may adapt to this "new normal" and continue to squeeze global central banks.
Time will tell.
Get some.
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Why The Fed Lowered Rates - My Opinion Part IThere has been a lot of speculation as to why the Fed lowered interest rates by 50bp.
My opinion is the Fed realized the pressure of a stronger US-Dollar and stronger US economy, headed into the POTUS election accompanied with new spending/policy related to a new POTUS, could put the global markets under extreme currency/economic pressures.
So, in order to provide more breathing room for the global economies, the US Fed decreased rates, taking a bit of pressure off currency rate divergences and allowing global central banks a bit of room to manage their economies against the 900-lb Gorilla (which is the US economy/US-Dollar).
In short, the US Fed needed to alleviate pressure put on the Global markets because of the 900-lb Gorilla US economy.
Not to save the US economy from an internal crisis...
But to save the world from a crisis of their own making. A Global Credit/Debt crisis has been brewing since before 2008.
The US Fed "gave in" and decided they had to decrease rates to reduce the risk of a foreign market contagion event (currencies/debt).
In my opinion, that is the only reason the Fed lowered rates.
Get some.
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$AMD in “W” Formation?NASDAQ:AMD looks to be developing a “W” formation, similar to a double bottom. There are quite a few of these formations on charts especially in the “Semis.”
AMD stands out to me and looks to have a measured move from the breakout point (top of middle of “W” measured an equal move higher, see chart). The breakout looks to me to be $157.82 for a possible entry. I have an alert set early at $155.25 so I can evaluate an earlier entry. All TBD.
The target price looks to be very close to the previous high or about an 18% move. Again, all TBD.
If I take this trade, I will update the post. Note, this is “looking” like a setup to me, it is not yet a trade. Thanks for looking.
SPY/QQQ Plan Your Trade For 9-20 : Breaking Up/Down PatternAfter watching yesterday's rally phase (which I believe was a relief rally driven mostly by foreign markets), I believe today's price move will be somewhat muted.
Yes, today's pattern is a Breaking (UP/DN) pattern, which suggests we may see some type of volatility event today. But overall, I believe yesterday's big price move was a volatility event, and today, the markets will struggle to identify a trend. I believe price will struggle for direction/trend today, and because of that, I'm urging traders to move assets away from the markets heading into this weekend.
I think it is better to move assets into CASH and prepare for trading next week. There is no reason to attempt to pick a position or trade heading into this weekend when we really don't know how the global markets will react to news or conflict events worldwide.
So, the best option today is to try to identify a few early trades, then move your assets into mostly cash and wait it out (till Monday).
I don't expect the markets to do anything besides consolidate below yesterday's highs.
Gold made the move up to 2635-2640 today - perfect. Pull profits today and wait for the next move.
BTCUSD is a bit higher today, but I believe it will pause - just like almost everything else today.
The global markets are still digesting the rate cut. We'll see what happens early next week - but today will probably be a stalling/pause in trend.
Get some.
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SPY/QQQ Plan Your Trade For 9-19 : Top-Resistance PatternToday's pattern is a Top-Resistance pattern.
After yesterday's Fed rate cut and the reaction, overnight, by the global markets, this top pattern suggests the markets will find a peak today and roll downward, away from that peak level.
Overall, I'm not too worried about a major crisis top today. I believe the Fed has unchained the US/Global markets a bit with the 50bp rate cut.
My custom indexes show the US/Global markets have moved into a new US-Dollar-based demand phase at the same time we are seeing a valuation-base and speculative-based price appreciation phase.
That means we are the following is taking place:
_ US Dollar is still stronger than most other currencies and demand for US-Dollar-based assets is still dominant.
_ Price appreciation is based on a renewed valuation accumulation phase. This is where traders see the US stock market as moderately undervalued and begin to accumulation based on discounted valuation levels.
_ Price appreciation is also based on a new speculative trend phase - showing more of a RISK ON mode where traders are chasing the upward price trends a bit more aggressively.
Putting all of that together, ahead of a US POTUS election event and the recent decrease in FFR, I think we are seeing a perfect environment for a MELT-UP trend to continue into a moderate early Santa Rally.
The one thing that could derail this momentum is some unexpected or crisis event that pops up out of nowhere. So be aware there are still risks.
Now, let's sit back and enjoy a rally day while we wait for confirmation of the breakaway high (FPT breach to the upside).
Get some.
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Iconic Failed Bullish move on SPX?If the S&P500 gets rejected at this level, it has the power to be an iconic selloff.
Now before we get to “bear’d up ” understand the SPX is still holding above the key short term daily moving averages and holding higher lows. The long term trend is still up.
Now to go back to being bearish. This FOMC interest cut was a big 0.50 BP which is not what most were expecting.
The rate cut that everyone was so bulled up on ended up backfiring in the markets face. The market sold off and reversed lower. Historically this is a phenomenon we can observe throughout previous rate cutting cycles.
Along with a buy the rumour sell type of day, the candle formation om the SPX are appearing to be higher volume reversal candles. Today session almost completed bearishly engulfed yesterday’s session.
These 2 candles have also proceeded to be trading at New All Time Highs before failing to hold and reversing Lower.
Is NVDA the catalyst for the market?NVDA just had a bearish crossover of the 20 & 50 MA (Daily chart)
Last time we saw this bearish moving average formation was in early August.
NVDA proceeded to fall sharply in the coming days.
All eyes on the market leader. All eyes on the QQQ.
Will the Q’s be the demise of SPY?
If Nvidia sees anymore weakness you can be sure it will have other semis following suit.
Risk to reward in the near term is clear.
What To Expect After The Fed rate Cut: 9-18-2024 (Fed Day)This video is really designed to teach you some basics about Fibonacci Price Theory (FPT) Analysis. I wanted to show you how I see the charts using FPT and why, sometimes, I might be seeing things differently than you do on the charts.
In my world, there are simple constructs that are evident on every chart. Supply & Demand zones, trending/flagging, and most importantly Fibonacci Price Theory constructs.
Fibonacci Price Theory is the basis of all my analysis. It is the ground-level structure I look for in price on all charts. Then, I move to more advanced indicators and other analysis types to develop a Success/Failure outcome (trend/trade expectation).
What I do is not hard to understand - it just takes practice.
Fibonacci & Gann techniques are infinitely adaptable to any type of price action. I use another technique I call the Tesla Price Amplitude Arcs which often help me identify where/when price events may happen - but that is for another video (maybe).
Ultimately, it comes down to understanding the structure and intent of price action (either success or failure) and how to position your trades for that success or failure of any price event.
There are really two types of traders: trend traders and counter-trend traders.
Trend traders try to catch the explosive price moves as trend events.
Counter-trend traders try to catch major reversal levels in price and try to profit from counter-trend price moves (reversals/reversions).
Using FPT, you can learn to execute both type of trading styles and improve your ability to see the market trends/setups more clearly.
I hope this video helps you learn to become a better trader and helps you understand my Plan Your Trade videos more clearly. At least you'll be able to understand how I see charts and what drives much of my thinking related to chart.
Get some.
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FOMC (FED) 50 bps Cut - What's Next???FED cut 50 bps today (as CME FED Watch Tool predicted), but it was one of the closer toss-up probabilities at 55% to 45% odds.
Today's 50 bps leaves room for more to come and the market is anticipating 10 cuts in 11 FOMC meetings out through 2025.
The market's resilience has been impressive, but until the market is satisfied with more "good news" on employment, inflation, and earnings growth...fresh all-time highs and rips may prove elusive in the near term.
Thanks for watching and enjoy the video!!!
SPX6900Real stocks r cringe
A memecoin like SPX6900 has the potential to "moon" due to several factors intrinsic to the nature of memecoins and the dynamics of the cryptocurrency market. Firstly, memecoins often capitalize on viral marketing and social media hype, which can drive significant interest and investment from retail investors. The name SPX6900 could itself be a clever combination of elements that resonate with internet culture, potentially amplifying its appeal. Furthermore, if influential figures or communities within the crypto space endorse SPX6900, it could lead to a rapid increase in its visibility and perceived value. Finally, the speculative nature of cryptocurrency investments means that many investors are constantly on the lookout for the next big opportunity, and a memecoin with a catchy name and strong online presence could easily capture their attention, driving up its price substantially.
QQQ continues to test major resistanceQQQ rallied up its resistance and tests with false breakout
Volume increases over day before yesterday as resistance is tested again
RSI trends downward and stays below SMA
QQQ has been trending downward since August and now trying to break through its major resistance. Generally September and October are not great months for the market so extra caution must be taken during this time
SPY/QQQ Plan Your Trade For 9-18 : Gap Potential & Fed DayThis video pretty much covers everything I've been telling all of you over the past 5+ days.
Yes, I'm planning on waiting out the consolidation/early trading today and waiting through the Fed decision. There is no reason to jump in front of a moving train attempting to change its direction or speed. You just get run over and beat up.
So, I'm going to take a break this morning, watching the markets and waiting for the Fed rate decision.
While I did look at some data points this morning, the one thing that caught my attention was the Mortgage Refinance Index. That index has jumped more than 45% over the past 12-16+ months while mortgage rates are still above 6%.
I believe this is an indication that ARM borrowers are under some pressure now (after roughly 36 months) to refinance and are dealing with higher rates. 2024-3 = 2021.
Those hot to buy anything after the COVID pandemic may have signed into ARM loans with a 3-year rate guarantee - which may now be rolling into fully adjustable rate loans. That would push the refinance index higher as these homeowners attempt to wiggle their way into something more realistic than the 6.5 to 7.5% rates on their ARMs now.
In my opinion, this is the only thing that may prompt the Fed to lower rates a bit - the pressure on a small segment of home owners in ARM loans that need some relief.
We'll just have to wait and see what happens today.
Get some.
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9/17 Expectation of two bases points cut increased to 65%. Overview:
The VANTAGE:SP500 closed higher despite forming a red daily candle, signaling potential intraday weakness or selling pressure, but the broader trend remains positive since the overall price closed higher than the previous day. This pattern suggests buyers were active, but sellers took control after the market opened, creating a bearish candle even with upward movement. Similarly, the NASDAQ:QQQ didn’t break previous highs but printed a similar candle.
While BlackRock and Grayscale stayed on the sidelines, all other major funds loaded up on BINANCE:BTCUSD , pushing the day’s total to $186.8 million, 84% higher than the average BTC ETF volume of $102.3 million. Ethereum ( BINANCE:ETHUSD ) continues to struggle, with Grayscale selling ETH even on today’s green market day.
Retail sales rose again, showing that the U.S. economy remains on solid ground, keeping recession fears at bay. According to the CME FedWatch Tool, the number of traders expecting a 0.50% rate cut has risen to 65%, compared to 50% at the end of last week and just 10% in early August.
Technical Analysis:
W: Despite recent gains, BTC remains in bearish territory, trading below the BB MA. Price touched the $61.4k weekly level during the Asian session but retraced. A rate cut could be a positive event, keeping BTC in its current range without major sell-offs. Some altcoins may see 10-20% gains.
D: BTC held the $58.4k level and bounced, signaling possible growth after the rate cut.
4h: BTC briefly hit overbought RSI at the $61.4k resistance level but was rejected. MACD shows a bearish divergence, but this may be overshadowed by the upcoming rate cut.
1h: Overbought RSI is cooling off now.
Altcoins vs. BTC:
Another day of divergence among altcoins. BTC grew by 3.6%, while ETH followed with 2%. SOL printed a doji candle, but NEAR outperformed with a 6.4% gain, bouncing off its support. SUI and TAO saw strong gains of 12.2%.
Bull Case:
The lack of a large sell-off by whales suggests confidence heading into the rate cut. BTC has been climbing since September 6th, and if the rate cut injects liquidity into the markets, some of that money may flow into risky assets like crypto. A postponement of recession fears could also lead to higher interest rates for longer, but this means more disposable income available for speculative investments.
Bear Case:
Despite the rate cut, the economy is slowing down, and a 0.50% rate cut represents only a 10% decrease in the current rate.
Fear and Greed Index:
The index rose slightly to 37.91, reflecting cautious optimism ahead of the rate cut.
Prediction:
Short-term bullish for BTC, but expect range-bound movement or a drop in October.
SPY/QQQ Plan Your Trade Update For 9-17 : Wednesday is CriticalIf you were paying attention to my SPY Cycle Patterns today - boy, a beautiful "top" pattern setup today. Just like my SPY Cycle Patterns predicted more than 3 years ago.
If you've been following my research, you already know I've identified dual excess Phase Peak patterns that should resolve into a rollover topping pattern, sending the SPY/QQQ moving downward towards the end of this week (Sept 19-20). If the current Ultimate High price level continues to act as resistance, there is a real potential for the SPY/QQQ to move into a downward momentum breakdown the following week (Sept 23-30).
But, the one thing that throws the whole topping pattern into a mess is that the RSP has already broken to new ATHs and appears to be attempting to hold above the previous high-price fractals. Thus, we are seeing the equal-weighted S&P already moving into a broad value-based rally phase.
Watch this video to understand why I continue to suggest traders avoid engaging in any big trades or get greedy, thinking they are going to WIN BIG on their trades. Yes, I'm sure some people will hit their targets over the next 3-7+ days, but others will get run over (hard).
Unless you really like taking the risk of getting run over by the markets or market makers, I suggest sitting back and reading a good book while the markets or traders struggle to find their exits.
One thing is certain: the markets will move into a trend by the end of September—either into a breakaway rally phase or into a rollover topping phase.
You'll have lots of time to position for these trends because my research shows the next cycle phase is October 7-10 (nearly two+ weeks away).
So, why stress out about tomorrow's Fed Rate decision? Just sit back and wait for the markets to give you a clearer understanding of what's next.
I'll create another morning video tomorrow morning.
Get some.
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SPY/QQQ Plan Your Trade Update For 9-17: Excess Phase Peak BreakThis short video explains why it is so important to often wait for the markets to show you what it really wants to do - not trying to force a trade when the markets are undecided.
Many traders are likely short right now - expecting a top to setup in the markets ahead of the Fed rate decision. My research suggests a top would likely form because of the dual Excess Phase Peak patterns on the charts as well.
But, the RSP rally to new ATHs over the past 3+ days gave me reason to PAUSE and really consider the potential that price may rally and break away from the Excess Phase Peak setups.
Well, today we have a new ATH in the SPY. We need to wait till the end of the day to see if price gets rejected at these new ATH levels - but this is a BREAK of the Excess Phase Peak pattern.
Over the past 10+ days, I've continued to share why these Excess Phase Peak patterns are one of the core constructs of price action. They happen all the time (probably 60% of all trading through any year is an Excess Phase Peak pattern).
There are five constructs to the pattern. They can be Bullish or Bearish in structure.
At any time after the initial PEAK/TROUGH is set, they can INVALIDATE. So, we have to stay keenly aware of when/how they can invalidate.
This video will show you multiple examples of Excess Phase Peak patterns and how to use them.
Get ready, we may be at the start of a moderate melt-up for the SPY targeting 585-595 or higher.
Get some.
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SPY/QQ Plan Your Trade For 9-17 : Top PatternToday's Top pattern suggests the markets will melt upward in early trading, finding resistance, then rolling over into a moderate downtrend.
A top pattern is very similar to a reversal pattern. Where price moves higher, finds a key resistance area, tops, and then rolls downward away from the resistance area.
In today's video, I take a quick look at RSP, the equal-weighted S&P500 ETF, where price levels have already moved to new ATHs. And this may be very important for all traders to consider.
If the equal-weighted S&P ETF is moving to new all-time highs right now, while the QQQ and SPY struggle within the Excess Phase Peak patterns, it may be just a matter of time before the SPY invalidates the Excess Phase Peak pattern and moves to new ATHs as well.
The QQQ may be a different story as that chart still shows quite a bit of upper price range before invalidating any of the Excess Phase Peak patterns.
Therefore, I suggest traders stay very cautious today and tomorrow as we see how things play out. Right now, I would suggest the topping/peak pattern has about a 60% probability of playing out successfully today. Those ATHs in the RSP are more indicative of a moderate melt upward instead of a rolling top pattern - at least right now.
Gold and Silver will pause a bit ahead of the Fed rate decision. All markets are in a "wait and see mode" ahead of the Fed. This is another reason why you should not be overly aggressive in your trading right now.
Bitcoin is attempting to FLAG again - moving into a tighter, more consolidated price range just below $60k. I still believe an explosive upward price trend is building for BTCUSD.
I believe we will see an explosive upward price trend setting up just before the elections across the SPY/QQQ and other markets as well - we have to get through the next 45 days of consolidation and uncertainty ahead of the elections.
Get some.
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$SMH Wedging Here – It Can Break Either WayI have been long NASDAQ:SMH for months and have been up as much as 18%. I have given a lot of that back and am now watching this chart very closely. I did hang in for that 29% drop (shown on chart) and felt it was a shake-out. It started recovering nicely but dipped again. The only positive thing I can say about this chart is that it has managed to put in a higher low (but has it?).
I am watching this wedging pattern and looking for it to break either way. My bias since I am long is to break up and out. But I am prepared for a breakdown as well. I have an alert on both the upper and lower trendlines. Should it break up, I will add to my position and should it breakdown I am ready to sell my position and consider shorting. All TBD.
Thanks for checking it out. Comments always welcome.