Stonks
Stocks Make New Highs!! 🎉🥳Stocks saw a huge rally yesterday that brought all the major indexes to new highs. The S&P is no exception. We have cracked 4486 finding resistance just above this level, as confirmed by a red triangle on the KRI. The Kovach OBV was very strong but has rounded off suggesting that the asset is giving pause. We are perhaps due for a reasonable retracement, which may take us to support at 4462. If not, our next target is 4504.
CRM active setup. Let's see how this performsToday we will talk about CRM. Here we have an active setup, and we will explain why we decided to develop it this way.
Main structure: The most important aspect of the chart before the entry was executed, was this huge Flag pattern above a dynamic support resistance level. We were waiting for a breakout of the structure before developing setups. Also, we could observe 0 resistance levels after that.
Time Horizon: When you are trading a big structure, you must understand that these types of setups take a lot of time to evolve. However, that's not a problem if you know how to handle your anxiety and have other setups or strategies running with this.
The target: Is a convergence between fibo extensions and an ascending channel that is not defined yet (we need a new ATH to confirm it. However, if that happens, the alignment is pretty good.
Activation Level: Our entry price is always above minor resistance zones of the corrective pattern, or in other words, "Always above B." That way, we avoid a lot of fakeouts.
Invalidation Level: IF everything goes wrong, the invalidation level we have is below the structure. There we will automatically close our setup losing 1.5% of our Capital.
Thanks for reading!
RBLX BreakoutFrom a purely charting perspective, this is a textbook setup for a breakout to the upside. One month full of consolidation, and now the chart is painting higher lows and clearing moving averages.
Aside from a heavy supply zone @ ~$86-87, a clear break and close above that level this week should send RBLX to $100+ in the ensuing weeks.
Momentum for Stocks!! 🚀After bottoming out at 4355, stocks have reclaimed the 4450's, almost a hundred points higher. We are just a few levels away from all time highs again. We appear to have broken out from an inverse head and shoulders, which is a very bullish sign. Currently, the momentum is letting up for a bit, which suggests that we may see a range day, if we don't see momentum at open. We should see support at 4440. Our next target is the high at 4487.
Inside the ascending channel on VisaToday we will analyze the current chart of Visa. Let's start:
a) The main two structures we can see on the chart are: The ascending channel and the dynamic support resistance level (yellow lines)
b) Currently, the price is above the dynamic support resistance level and is supported on the ascending channel
c) At the moment, we have a corrective pattern (green structure), and we say "at the moment" because the pray may keep falling and invalidates the whole idea. Yes, that's trading (what a lonely world)
d) Ok, let's keep going. What we can see here is that if the price breaks above the green horizontal line, we will take that as a confirmation of the bullish view towards the two fibo extensions levels.
e) Invalidation level is always below the structure (assuming that the price reaches the entry-level and then start falling)
f) If everything goes as expected, we can wait for a 90 - 120 days movement towards the target
Thanks for reading! And remember: Protect your Capital!
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Stocks Find SupportStocks are recovering from the dive they took down to 4350. We found support here and seem to be forming a consolidation pattern. We've rejected our level at 4421 as confirmed by a red triangle on the Kovach Reversals Indicator. Currently, we are finding support at lower levels, namely 4380. The Kovach OBV has picked up notably, suggesting we may find further support here. If we see momentum come through for the S&P, expect it to test 4421. If we clear this level we should be able to recover highs early next week.
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*valuation matters
SNP 500 road to new athWe see a little pullback. Given the continued printing of money i think we can go higher from here to new ATH. I only worry if there is a lockdown again, how would the market react.
Stocks Plunge!! 📉 😱Stocks have tumbled overnight in tandem with Asian stocks who sold off after Alibaba shares in Hong Kong tanked more than 5%. There is strong support at 4350, but that is more than 100 points away from highs. This is a significant dip for the S&P, but we should find support at current levels. This is a 0.618 retracement from the bull run since the beginning of July. We were due for a good dip, and this appears to be an Elliott Wave corrective impulse. We are highly likely to find support at current levels, but if not, the 50% Fibonacci level at 4315 should hold.
Stocks Recovered Fast!!Stocks retraced quite a bit to 4421, a new technical level under 4431. The selloff came yesterday after renewed Coronavirus panic swept in after New Zealand entered lockdowns. This was swiftly bought back midday and we've retraced about 50% of the selloff. Currently, we're finding support at 4440. The Kovach OBV is still pretty strong, suggesting that the correction was paltry with respect to the overall bull momentum. Watch for the S&P to test 4462 again. Our next profit target remains 4487.
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Should we be worried about inflation?The market, such beautiful place. Any movement causes relief for one and worry for other. this is not financial advice.
This is just what I think might happen. Sometimes the most obvious outcome is the one to be afraid of and at this moment things are getting complicated. There is just too much to talk about. We are going to see some crazy movements between the most wealthiest networks.
Trading Plan on PLTR for the current range.Today we will take a look at PLTR.
a) The price is inside a range since March 2021. The support and the resistance zone define this range.
b) There is an accepted idea that the expected target of a range breakout is its length above or below it. Using this, we can project a minimum target on the yellow arrow if we have a bullish breakout. However, if the price keeps going up, the next resistance zone we may encounter is the previous ATH
c) Ok, great. But how do you plan to trade this? - We want to observe a corrective pattern on the edge of the range with the same proportions as the previous one. IF that happens, we will set pending orders on the green activation line. Our stop loss will be below the structure. The break-Even level is the range projection. Our Target will be 42.60 to be conservatives.
d) If everything goes as expected, we think the movement can take between 15 to 30 days
e) We will risk on a setup like this 1% of our Capital on the stop loss.
Thanks for reading!
Stocks Make New Highs!!Stocks saw a selloff yesterday morning but quickly found support, at 4440, which we have identified as a new technical level. This is just above 4431, where we thought we'd see support. After finding support here, we immediately caught a bid sending us smashing through our profit target at 4462, and falling just short of our next target at 4487. We are seeing a red triangle on the KRI at the high, confirming steep resistance, but getting support at 4462 again. We should be able to establish value here at higher levels between 4440, 4462 and 4487.
Stocks Meet ResistanceStocks have reached our profit target at 4462, and seem to be stalling there. We will see if the Biden administration's epic, incendiary failure in Afghanistan will have an impact in the S&P closer to the open. For now, it looks like it will establish value between 4431 and 4462. The Kovach OBV is strong but has leveled off suggesting that stocks may be taking a breather before another rally. We are seeing not one but four red triangles on the KRI which suggests that we are facing stiff resistance at 4462.
The filter for the bullish view is READY on Square inc.Today we will speak about the current situation on SQ (we made a post a few weeks ago. You can check it on related ideas)
At the moment, we think the bullish scenario is the most probable one, and we are ready to define the activation levels based on the previous analysis.
What were we waiting for?
We were looking for a first breakout attempt on the current corrective situation. That happened, and we have a small correction on the edge of the current one.
What is the activation Level?
Is the green horizontal line where we think that if the price reaches it, that would confirm our bullish view.
What about cancelation levels?
Here you have different possibilities. If you want to trade this small correction with a risk-reward ratio probably above 6, your invalidation level will be below it. (be open to the idea that trading scenarios like this require some stop losses before catching the actual movement)
If you are more conservative, you can define an invalidation level that may be below the inner ascending trendline for the current correction.
If you are extremely conservative, you can define your stop loss below the full structure (186.00)
That's up to you. What is the same for all the scenarios is the Activation Level.
What happens if the price moves in a completely different way?
Either you have a stop loss, or you never trade because the price never reached the activation level; it is that simple. That's the reason risk management IS SO IMPORTANT. You must be able to take losses without that moving your emotions everywhere.
How long can It take for a movement like this?
150 - 250 days.
Thanks for reading, guys!
Stocks Hit Our Profit Target!! 🥳Stocks have finally hit our profit target at 4462. This was a long time in the making and we've identified this as a profit target last month. The path to get there certainly was not quick, as the S&P has gradually drifted to this target, in contrast to the emphatic breakout we expected. We should see some resistance at this level, so some ranging is anticipated. From below, 4431 will provide support. The Kovach OBV is still very bullish so the run could still have legs.
Stocks Drifting 🐌Stocks have drifted up above our level at 4431. We were anticipating more of a bull wedge breakout, but the momentum we've received has been paltry. We are currently in the middle of the vacuum zone between 4431 and our target at 4462. The Kovach OBV has tapered, but is still bullish. We anticipate the drift to continue until we hit our target. After that, we anticipate a retracement, which could take us back to 4408, 4389, or 4380.
JPM daily perspective and possible impulse coming.Today we will take a look at the JPM chart:
What are the main things we can see here?
a) The price is above the last support/resistance level.
b) The ascending channel has been broken, and the price is currently supported on the broken structure
c) We can see a complete ABC corrective pattern
d) Projecting a new channel assuming that the price makes a new ATH, we can see a convergence with fibo levels using the previous impulse
What conclusions can we take with this?
a) f the price reaches our green horizontal line, we will consider that to confirm our bullish view.
b) The targets we will be using are the two levels we have drawn using Fibonacci extensions
c) Ok, what happens if everything goes wrong? Our stop loss will be below the Corrective pattern.
d) If the setup is never activated and the price falls below the structure, we will cancel our view.
e) The risk we are taking on this setup is 1% of our trading capital.
f) This is another setup of the stock strategy we are applying on the markets. The expected win rate of this is between 45% - 55%, which means that we tend to be wrong half of the time. However, when we are right, we make around 1.8 to 2.5 times what we lose.
g)The expected movement can take between 150 - 250 days.
Thanks for reading guys!
Correction inbound?In 2008 over leverage of 440 billion, to todays (2021) 900 billion.
2008 inflation rate 2021
May 4.2 April 4.2
June 5.0 May 5.0
July 5.6 June 5.4
August 5.4 July 5.4
Sure just numbers right? Lets look at the months prior to the big change
2008 2021
January 4.3 January 1.4
Feb 4.0 Feb 1.7
March 4.0 March 2.6
April 3.9 April 4.2
The percentages in 2008 were slow yet very high. In 2021 we went from one extreme to another.
Banks selling assets, at an unfathomable amount and rate
** reverse repurchases exceeding 1 trillion a day for the second time this year and will probably do so again today
SEC, DTCC, and SSTC passing rules and regulations at an unprecedented rate
Massive amounts of covid-19 relief money infused by new investors Crooked brokerages working with one of the largest market makers who now know your every move.
Naked shorts, and meme stocks. Failure to delivers
US 10yr rate approaching 1.0 return
2 WEEK RANGE
0.608 - 1.778
PRICE 99 1/32
Please add if I am missing any other signs that point to a 20 to 30% market CORRECTION ( Not a bear Market).
All of these things and if you look at the SPY Chart, even when nobody was working and freeways were dead and police officers were stopping no one from speeding, the SPY chart looks like a ramp Evil K'nevil wouldn't jump from.
Let's also remember we have 10.8 million US households that are going to be affected by the rent moratorium expiring on 08-31-21 with a congress that is adjourned for the next 7 weeks ( I want seven weeks off) . That's 1 out of every 6 renters ready to be evicted from their dwellings.
Also we have debt ceiling about to be breached.
