Boeing: 10% correction is over, target set around $305Boeing has peaked for now on the news that 20% production will be cut.
QQQ
Update MSFT: +28% so far, target $125MSFT is 28% off the lows, I expect more upside to come, however, the opportunity has diminished. There are better positions to chase currently.
Update FACEBOOK: Down on earnings?Careful with Facebook, although bullish I believe there is more downside to come first.
Boeing: 737 aircraft production expected cuts of 20 percent..."Boeing Company (The) is expected* to report earnings on 04/24/2019 before market open."
Boeing has more downside, however, at a certain price there is value!
Update S&P500: A move to $2,936 is possible firstData out this month show slowing business activity & new orders relative to the prior month, compounded with an unexpected slowdown in wage growth, forecasting a pullback from here with a complete patterns is logic.
Update DIS: Disney is about to breakout towards $130 targetDisney is a longer-term position with an expected target of $170. Content distribution as the driver!
Update S&P 500: A bull in a bears clothing, DOWN first!1 to 1 target for Wave 5 would complete somewhere around $2,940. At present there is no opportunities to buy or sell the S&P 500.
Update USOIL: Expect a reversal in Crude Oil around this areaCrude has reached and surpassed our expected target of $61.60 for a reversal. Look for weakness into the close of day today.
Update USOIL: Look for a reversal here...We can see slight higher highs from here, however, I expect to see a reversal somewhere between the current price and $61.60
The problem with LYFT, UBER, AirBnB & SlackTodays IPO for LYFT was rather successful, suggesting that UBER could possibly top the $100bn mark. However, its too easy to get caught up in the noise, an IPO is an exit strategy!
Facebook in bear flag, next move lower is a BUYFacebook continues to trade as expected however, the decline might be halted at the 50% Fibonacci based on how the current structure is unfolding.
MSFT still has upside but these 5 stocks offer better r/r...The time to buy was last November/December, today you should be moving stops higher and protecting gains!
S&P500 set to PULLBACK to $2,536, China data positiveMy concerns of anything more than a pullback are subsiding, Chinese PMI is in expansion once more which is confirming that the majority of poor economic performance is likely finished.
Over the next 6 months we expecting to see hard data underperform, compounded with a rising dollar it is a headwind for equities.
Update USOIL: $61.50 first, then $52Commodities are typically the last asset to peak during a cycle. We typically interest rates peak first, a couple of months later that followed by equities and a couple of months after equities we see commodities peak. Commodities such as crude oil, are part of the contraction phase in the cycle, the higher the price rises it begins to acts as a tax on consumers and that begins the early recession phase. For that reason, I have marked this rally in crude as a wave A of a bigger corrective pattern.
Update BA: Expect a 10% bounce from hereDespite all the bad news, we are likely to see a bounce occur around these levels.
Update EQUITIES: Russell 2000 paints a different pictureOver the past week, my tone has switched a little more bearish. I was advocating for a blow-off top in equities before this cycle ends, however, on a second look at the data the leading indicators are continuing to show weakness over the coming 6 months. Certain aspects of the economic data are positive however, which makes it difficult to be outright bearish or bullish at this point. Hedging sector risk is a good long / short strategy.
Update BONDS: Target for TLT remains $131.58Hi all, TLT is continue to rise as expected from our update last week. Contrary to popular belief I do believe that $131 will be a meaningful top.
VIDEO analysis on small cap stocks, bearish but at fib supportVIDEO analysis on small-cap stocks, bearish but at fib support for a bounce as of today
VIX signals >10% drop in S&P500, heres why...VIX and the Financial Conditions Index are the same charts. Rising volatility correlates with falling stock prices because of a tighter liquidity environment. Expect more downside.
Update USOIL: I bought put on Crude Oil65% of crude oil demand is derived from gasoline, with economic conditions weakening we are now switching from supply side issues to potentially demand-side issues. Watch for lower levels of demand for Crude over the coming weeks.
AMD ready for move to $12?Analysts do not have an economic slowdown priced into their fiscal year 1 & 2 earnings estimates.
