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$ILMN Ready for a Base Break?Looking at this weekly chart it looks to me that sellers finally capitulated the week of November 13, 2023. Since then, it is mostly green accumulation, and it is holding price on lower and lower volume. You can see the flat base as identified with the LevelUp chart. I had a position earlier this week and stopped myself out for no gain. I re-entered today in anticipation of the breakout around $150. I like these early entries as I can set my stop just below the weekly low for a minimal risk to reward. It is one you may want on your watchlist. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:ILMNLong
by jaxdog
1
QQQ A Fall Expected! SELL! My dear friends, QQQ looks like it will make a good move, and here are the details: The market is trading on 436.74 pivot level. Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Goal - 426.12 Recommended Stop Loss - 441.83 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
NASDAQ:QQQShort
by AnabelSignals
1
US-Market SentimentUS Market Sentiment and Swing-Trading Considerations - NASDAQ Heatmap Color-Coded Performance Indicators: Green Boxes: Represent stocks that have had positive performance over the past week. The intensity of the green color indicates the level of positive performance, with darker greens showing stronger gains. Red Boxes: Represent stocks that have experienced negative performance. Similarly, darker reds show larger declines. Sector Analysis: Technology Services: Companies like NASDAQ:MSFT (Microsoft) and NASDAQ:GOOG (Alphabet) show moderate gains, suggesting a positive sentiment in the technology services sector. Electronic Technology: A mixed view with significant gains by NASDAQ:NVDA (NVIDIA Corporation) but a slight decline in NASDAQ:AAPL (Apple) indicating a divergence in performance within this sector. Retail Trade: NASDAQ:AMZN (Amazon.com Inc) shows a strong performance, which is a positive sign for the e-commerce space within retail. However, PDD and MELI experienced notable declines. Health Technology: Mostly green with strong performances from companies like AZN, indicating good momentum in this sector. Consumer Durables: NASDAQ:TSLA (Tesla Motors, Inc.) is down significantly, which could suggest a potential concern for the electric vehicle or broader consumer durables market. Consumer Non-Durables: A mix of performance, though PEP is up, which might indicate stability in consumer staples. Notable Stock Movements: NVDA: The strong gain suggests investor confidence or positive news related to the semiconductor industry or the company specifically. ADBE: The notable decline could be due to earnings reports, market sentiment, or sector-related news impacting software companies. AMZN: A substantial increase like this could be driven by positive earnings, favorable market news, or successful business ventures. TSLA: A sharp decline may be the result of negative press, disappointing earnings, or adverse industry developments. Market Sentiment: The overall market sentiment can be gauged by the balance of green to red. In this heatmap, green appears more prevalent in larger squares (representing larger companies by market cap), suggesting a cautiously optimistic sentiment among major players. Considerations for Swing Trading: Momentum Stocks: Stocks like AMZN and NVDA with strong positive momentum could be considered for a swing trade, following Minervini’s principle of trading in sync with the market trend. Volume and Price Action: Before making trading decisions, it's important to analyze the volume and price action for confirmation of the trends suggested by the heatmap. Potential Reversals: Stocks like TSLA and ADBE that have experienced significant drops might be scrutinized for potential reversals if they approach technical support levels. Final Thoughts: This heatmap is a snapshot and does not provide the granularity needed to make a final trading decision. It is a starting point for identifying potential stocks to trade. A trader following Minervini’s methodology would look for specific technical setups, such as tight price consolidation, relative strength, and trading volume, among other factors, before entering a trade. It's also important to consider that the heatmap shows past performance, which is not always indicative of future results. Each potential trade should be evaluated in the context of current market conditions, news, and comprehensive technical analysis.
NASDAQ:QQQ
by JS_TechTrading
Opening (IRA): QQQ April 19th 405 Monied Covered Call... for a 397.94 debit. Comments: Re-establishing here in the Q's with a +25 delta monied covered call to take advantage of call side skew. Will look to add at intervals, dispersing risk across expiries, and generally take profit at 50% max and/or roll out the short call on test. Metrics: Max Profit: 7.06 ($706) ROC %-age at Max/50% Max: 1.77% at max; .89 at 50% max Break Even/Cost Basis: 397.94 Delta/Theta: 25.42/11.42
NASDAQ:QQQLong
by NaughtyPines
2
NDVA 775 plus or minus 3 has been hit 5th of 5 ?The chart posted is that of NVDA . I now feel the RISK is at a 10 out of 10 .based on wave structure and the relationships within the waves . last week I talked about 2.618 on a log scale as being an issue and we saw the reaction at that point 733 we then declined in an ABC and wave 2 and 4 were equal . I then labeled the decline as wave4 waves 1 and 5 would be equal at 775 plus or minus 3 so now I can count a 5 wave structure and on NEWS we are also just outside the daily BB bands and at a trendline . Can we extend yes will we ? . I trade only based on MATH and EW . I will now EXIT ALL LONGS IN QQQ this morning and SMH GOOG AAPL and move to a 105% in CASH .BEST of Trades WAVETIMER .
NASDAQ:NVDA
by wavetimer
SPY- Open Put Options to Hedge Long Stocks SHORTSPY on the 15-minute chart seems to have hit a pivot high. With a variety of long positions, I need some insurance against a bull trap or even a black swan event in geopolitics. It seems SPY puts would fulfill the purpose. Out of the money below the current price seems opportunistic. Accordingly, I will take a handful of put options that expire at the mid- March monthly 1% below current price. If the market is healthy these will drop in value especially with time decay. They will serve as insurance. On the other hand if the market gets a cold or worse a bad case of COVID, these will partially offset any losses while managing positions.
AMEX:SPYShort
by AwesomeAvani
QQQ confirmed daily lower highOn Friday QQQ set daily lower high, marking potential trend reversal. Now bears must lead price all the way down (below 425.3) to start weekly consolidation. If this doesn't happen fast and bulls manage to set daily higher low then uptrend continuation is still an option. Also notable that bulls were able to close price gap from Tuesday, and bull wave retracement is over 50%. This talks in favor of bulls strength and increases probability of daily higher low. Hourly price action is currently in downtrend but given the context I would be looking for hourly trend reversal signals Disclaimer I don't give trading or investing advices, just sharing my thoughts
NASDAQ:QQQ
by hermes_trisme
SPY falls into mean VWAP support for LONGSPY on the 1H chart was riding the cynamic resistance of the second upper VWAP line in mid July but then pivoted down out of a head and shoulders at the bottom of the month and is now bounding up and down retesting the support of the mean VWAP line. The ADX indicator shows the flat line directional index. The ZL MACD is upgoing after a cross of the lines at the lows. Price is impending another VWAP crossover on the retest. I see this as an excellent base from which to take call options long targeting $453 for both 8/18 and 9/1. Please leave a comment, will SPY turn it around here or seek the downside?
AMEX:SPYLong
by AwesomeAvani
1
RSI Negative Divergence: Possible Market Pullback (SPY, QQQ)UNDERLYING PRINCIPLE: Divergence between Futures/Stocks/ETFs and their Relative Strength Index (RSI) can be used to predict a bottom or a top. This method is more useful in determining a reversal in overall market than an individual stock. To elaborate the principle let's assume the market is making higher highs but corresponding RSI is making lower highs. Together this uptrend in the market and downtrend in RSI show that the market is losing strength as it is climbing up. Which essentially implies a reversal/pullback in the market. The same principle can also be applied in determining a possible bottom in the market. Say if the market is making lower lows and corresponding RSI is making higher lows. In that case we can expect an upward reversal of the market. Current Scenario: Possible Pullback To inspect the current market I used weekly and daily charts for Nasdaq and S&P 500 ETFs NASDAQ:QQQ and AMEX:SPY . In NASDAQ:QQQ weekly the negative divergence is eminent as the ETF is making higher high but the RSI is making lower high. If we zoom further into a daily setup then the same negative divergence can be spotted: For AMEX:SPY on the other hand no divergence can be observed on a weekly setup: But on a daily setup a Negative Divergence can be detected: Recent History: Bear Market Bottom As you can see in both weekly charts, the recent bear market bottom has been identified using the same method: A Positive Divergence. Thanks for reading.
AMEX:SPY
by Trading-Economist
Sector Rotation Before CPI (SPY, QQQ)Clear sector rotation has been observed a day before CPI data release on Tuesday morning. It seems traders are getting out of Technology ( AMEX:XLK ) stocks and defensive sectors like Utilities ( AMEX:XLU ), Basic Materials ( AMEX:XLB ) as well as Industrials ( AMEX:XLI ) have been climbing up. HIGHLIGHT: The chart depicts S&P 500 ETF ( AMEX:SPY ) along with a ranking of all the major sectors at the bottom of the chart in an hourly setup. During the final hours of the last trading day (Monday) there has been a sharp sell-off of tech stocks as the industrials and basic materials have climbed up in strength. A slow decline in Health Care ( AMEX:XLV ) and gradual rise in Financials ( AMEX:XLF ) over last few days have also been observed. Please note that the first CPI of the year (January) usually creates volatility in the market. Which has also been observed in above 3% rise in the Volatility Index ( CBOE:VIX / AMEX:UVXY ) looking into the CPI release. s3.tradingview.com
AMEX:SPY
by Trading-Economist
Writing On The Wall.Where to begin. I think it's about time investors started thinking more seriously at the immensity of the financial problems sitting at the door step, and the worst part is that it isn't going away if we ignore it. The Fed has created the largest bubble in US history. In 2008, when the banks gambled and lost, the Fed stepped in with new measures to "stop" the crisis. We all know the story.... they created a new financial tool called Quantitative Easing or QE for short, which was a bond buying, MBS, corporate bond buying spree. In addition, they slashed interest rates to 0.25%. This caused stock markets to explode upward as well. What did they achieve? They created a spending spree like no other. Cheap money. Loans were cheap and we saw rapid growth in loans. This cheap money hit housing, autos, commercial sector and banking sector. It was a spending spree, consumerism at its finest. You can see this rapid recovery in US Credit Impulse Index in 2010 thanks to a 0% FFR. Retail grew and discretionary spending rose. It seemed like everything was great and will always be great. How much did it cost? It cost the US over $9 trillion, but globally the cost of QE is north of $25 trillion. What's the issue? The issue is that the house of cards is collapsing, and central banks can no longer hide the inflation caused by printing. Don't be fooled, this inflation was NOT caused by supply and demand. Demand has collapsed for well over a year now and yet inflation remains rampant. You can confirm this with numerous metrics from retail, discretionary spending, durable goods orders, wholesale inventory and so on. Demand has fallen, supply has recovered for the most part. The next issue is that the Fed is tightening faster than it has in the last 40-years. The shock of this has begun hitting the economy, starting with auto and housing markets taking the first of the brunt, and they have only begun suffering. Next we will see corporations taking the hit, bonds, banking system, and jobs. Remember folks, it takes about 14-18 months for rates to fully hit the economy . The Fed holds their grounds based on a strong labor market, but with continuing joblessness claims continue higher and the great layoff will begin this year. The labor market will take a hit as well. Is there a solution? No. Anyway you cut it, there is trouble. If central banks ease again, inflation will rise again. If central banks continue to tighten. it will cause more pain in other sectors. Banking was the first shoe to drop. Layoffs are rampant, especially in the Tech Sector with constant layoffs being announced. Corporations are doing what they can to stem losses, which means cutting payroll and clearing off debts. The term bankruptcy is one that is being used more and more. Bulls hope for easing Often you see bulls getting very giddy on the thoughts of the Fed cutting rates and restarting QE. I often shake my head in disbelief that they can be so naive and foolish. Even IF the Fed did so, the consumer is spent. You have record high personal debt and record low savings which means retail will NOT come back and neither will discretionary spending. Don't expect a magic turn around in corporate earnings because it won't happen. How to prepare Diversify. Safe havens like treasuries will turn sour as the unsustainable debt and spending will finally be realized and trust in these "safe havens" will quickly disappear. The safest bet has always been metals. Hence why banks stock metals like silver and gold and not paper or cryptocurrency. People want quality. Get out of debt quick, and start with small debts and move up. Op-ed I believe we are on the cusp on some serious financial turmoil and the markets will confirm this. We're on the verge of another wave down of this massive bear market. This crash seems more like a slow decent to the bottom rather than a March 2020 crash. We should easily slice through 3300 of the S&P (338 SPY) and start heading down to the next lows. The economic data supports this. Just remember, we've only now begun to taste the effects of rate hikes fully. 2023-24 will be tough for the financial system. Even the Feds Chairman stated that there is still a possibility of a soft landing. This means the odds are against a soft landing and I believe they know it. The next financial system is being setup now, it'll be a digital currency and in the mean time, this crash will reset debts and clear out all the bad debts. I've been a bear ever since March 2020, when they started pumping everything again. I knew it would be short lived because it was unsustainable. Markets are heading back to actual values that reflect a company's earnings. Some stocks are trading well over 25x earnings. It's absolute bogus, especially looking at this economic situation. It makes no sense. They'll keep trying to keep markets afloat to make everything look good but it really isn't and all the toxicity will overwhelm to deception.
AMEX:SPYShort
by WorldEconomics
SPY ScenarioIf we use the Elliots Wave like in 2022, this is how it may play out. The selling has been steep enough to apply the Elliots Wave here. Catalysts for Oct is a hotter than expected CPI/PPI, especially with fuel inflation rising and fuel prices rising back near record highs. Bearish Technicals: (1-Week) - RSI - MACD - MFI ----- On the contrary, these moves while are some steep selling are not enough (yet) to say its a resumption of the crash that started Jan 2022. Perhaps we bounce off the trend line of Oct 2022, March 2023 and move back up for some unmerited reason?
SP:SPXShort
by WorldEconomics
5