$NVDA Nvidia TECH Chart has not shown any signs of reversal$NVDA Nvidia Tech Company has a similar chart to $MU and $AMD - $MU earnings revealed negative sentiment sending both $AMD & $NVDA downward on relation of fear that the chip market is slowing growth.
Nvidia has not shown any technical signs of reversal on the lower timeframes yet.
Above I've marked important levels on the weekly timeframe.
With the slowing growth of $ETH and other crypto currencies, tech stocks like Nvidia and Micron are directly related and effected by the mega drop in value as demand for graphic processors and mining decreases.
It's pretty obvious that $NVDA is a top tier company in graphic processors and this decline is mostly due to the decline in our economy. As we progress into the digital age NVIDIA has high probability to bounce back to new heights (of course this could take 12-18 months unless they expand rapidly into different avenues of technology).
I will update if I catch any technical chart indications of possible reversal.
TECH
$AMD Advanced Micro Devices $AMD has been on a downward spiral printing bearish consolidation patterns after each drop.
The negative earnings report recently didn't help the stock price as you can see it has plummeted to a major support level.
It hasn't shown any signs of reversal yet. If it breaks below $72 it doesn't have much support until $59 area. YIKES!
As most tech stocks, AMD is overvalued in its current price.
The company has initiated a pullback on the consumer PC department (as sales have declined) and acquired a company this year to position growth in AI, apps and robotics.
AMD is well positioned and one of my top tech picks for bear market accumulation, as our world continues to develop in the digital age, AMD is a leader in memory and storage and is modeling change for future growth.
I believe AMD is a solid company that is positioned for new heights.
This is NOT Financial Advice.
NASDAQ - Not yetAs outlined in the S&P500 weekly analysis. the technical bounce appears delayed. At the least, it looks like a higher low is being made, and would take another week or two before a higher high is achieved.
In light of these, the projection and targets have been adjusted to the end of July.
Tech Just Made a Major Trend ReversalThis chart shows that there was a major trend reversal in the relative performance between Nasdaq stocks (QQQ) and S&P 500 stocks (SPY).
In May, the QQQ/SPY performance ratio reached an extremely significant bottom. It reached the 55-month EMA (orange line), which is also the base of the monthly EMA exp ribbon. Chartists use this base to detect significant bottoms. The fact that QQQ/SPY cleanly landed on this base and has since then formed a trend line upward means that there is a very high probability that tech and growth companies are about to outperform companies in the S&P 500. In fact, we are already seeing quite a few IPO companies breaking out.
The trend line (white line) is about to force the QQQ/SPY relative performance ratio above its displaced EMA (yellow line). A displaced moving average (DMA) is a moving average that has been adjusted forward or back in time in an attempt to better forecast trends. Chartists often use the crossover of the displaced EMA as confirmation of a trend reversal. Once QQQ/SPY crosses above this line and it becomes support, the trend reversal will be confirmed on the daily chart.
Further confirming this trend reversal is the short derivative, SQQQ. Market participants buy SQQQ either to short QQQ or to hedge against losses while also holding QQQ. Since May, there has been less and less volume in SQQQ. This shows that fewer and fewer market participants are opening new short positions against tech and growth. Meanwhile, the price of SQQQ continued to move to the upside. The price of SQQQ is now being resisted by the 55-week EMA. This fact coupled with the price-volume divergence is sending an ominous signal for those who are still short in tech. Since SQQQ is historically over-extended to the upside, the slightest of bullish signals for tech and growth stocks could result in a major short squeeze. (See chart below)
It is therefore quite dangerous right now to open new short positions against growth and tech companies. IPO and Biotech stocks have already broken out to the upside. Commodities, including energy, are breaking down, which in turn shows that the inputs of inflation are cooling down. The charts show that the Fed will not be as aggressive as many analysts expect. Charts never lie, analysts do.
Unless a black swan event occurs, it is quite likely that the Nasdaq 100 has put in a significant market bottom.
VEEV - uptrendAnother stock that seems to have bottomed. 10, 20, 50 MA curled up, it's a lot above 100 MA and I wouldn't be surprised if we retest around $192 and the 100 MA before we grind higher. Also, the 200MA is pretty far away so we might be moving in this range for a bit but overall, the trend looks better than other tech names.
Sono Motors (SEV)This is a chart of the solar EV company Sono Motors (SEV). The company is headquartered in Germany and went IPO on the Nasdaq in 2021.
This stock is presenting a decent risk-to-reward setup because it has been finding support within important Fibonacci convergence zones (yellow area). I created this Fibonacci convergence zone by using trend-based Fibonacci retracement combined with a long-term Fibonacci drawn from the stock's highest ever price down to a price of zero. Any bottoms that form in or near this Fibonacci convergence level will likely be extremely significant.
Aside from a Fibonacci analysis, a double bottom recently formed on the daily chart. Of further note, IPO stocks have been showing signs of beginning to outperform the broader market. While the broader market was making lower lows in June, many IPO stocks, such as SEV, have been making higher lows. Oscillators on the longer-term charts validate this trend by showing signs of beginning to oscillate back to the upside. This is a long-term bullish signal for IPO stocks. Here's a great post by @TradeStation for a more in-depth analysis of the recent IPO outperformance:
Here's Why the Tech-Led Selloff is Likely Over (for now)In this post, I will attempt to provide evidence to show why the tech-led selloff is likely to be over (for now). I will use the Nasdaq 100 (QQQ) and its inverse derivative, SQQQ, as my argument's basis.
The inverse (short) ETF of the Nasdaq, SQQQ, has never closed a weekly candle above the Leading Span B of the Ichimoku Cloud (pink line in chart). Last week and the previous week, the weekly candle was very strongly resisted at this level.
Now, the weekly and monthly momentum oscillators started to move in the opposite direction. This will not only make it much harder for SQQQ to pierce the line, but it could also result in SQQQ plummeting quickly, and therefore QQQ and the Nasdaq rebounding quickly.
For comparison, many data points are covered in this chart, and there is a high statistical probability that the Nasdaq has bottomed. Not even during the peak fear of COVID-19, when the global economy shut down and governments feared millions of deaths, did SQQQ pierce the weekly Ichimoku Cloud.
In December 2018 when the Fed was starting to rapidly roll off assets on its balance sheet and was raising interest rates, SQQQ still did not pierce the cloud. This fear is very similar to today's fear.
Even further back, not even during the major flash crash in 2015 or on Black Monday in 2011 when the market crashed did SQQQ pierce the cloud. Today, hardly anyone remembers these episodes in stock market history. Similarly, in ten years or so, few people (except maybe those who sold all their positions at the market bottom) will remember what happened in May 2022.
The NDTH is a chart of the percentage of Nasdaq 100 stocks that are above their 200-day moving average. It dropped to nearly 10 in May 2022, meaning almost 90% of Nasdaq 100 stocks were below their 200-day moving average. The last time this level was reached was in March 2020 right at the bottom of the COVID market crash. The NDTH has never dropped below 15 except during significant bottoms on the Nasdaq.
There are many other examples in which the charts suggest, with high probability data, that we just experienced a significant bottom on the Nasdaq 100. (Eg. The Nasdaq 100 was supported on the monthly base line, the monthly candle is extremely bullish, the monthly EMA ribbon of the QQQ/SPY ratio chart strongly held the outperformance trend in place, inflation and interest rate charts are cooling.
Although this may be a significant bottom, it does not mean a years-long bull span is ahead. Rather the charts suggest the panic selling has ended for at least the short to intermediate-term. To be fair, some charts suggest that the QQQ/SPY outperformance trend could be nearing the end of its decades-long run. (Credit to @Breakout_Charts for identifying this) If this occurs, then it could be the start of a new cycle, or even super cycle, whereby the Nasdaq underperforms for years.
Finally, a point about market psychology. Bottoms occur when 'extreme fear' turns into just 'fear' (yes, there's actually an indicator that measures this). That indicator has moved significantly from 'extreme fear' towards 'fear'. With this said, there might be a lot of people who might comment on this post and say scary-sounding things about the state of the economy or stock market. If none of these fears existed among market participants, we would never even have gotten to this bottom. Never sell because of fear alone.
Not financial advice. As always anything can happen. Just my thoughts. Leave a like if this was helpful and you'd like me to post more analyses. Please feel free to comment below if you have additional thoughts.
HUB.TA Jumps +50% in June as Global Tech Industry Slumps2022 has proven a volatile year for HUB Security investors, and not for the reasons dragging down the tech industry at large. Back in March '22, HUB (now listed on TASE) announced the closure of a SPAC agreement with RNER for a Q3/4 NASDAQ listing. After an astronomical rise to over 900ILA from ~380ILA at the start of the year, the stock took a nosedive to a YTD low of 261LA in early May. Investor jitters over the SPAC deal, the global pullback of the tech industry and stocks, and a worsening macro-economic backdrop overall were the main drivers of this see-saw motion over the past 6 months.
Things are looking quite a bit greener this past month--June 2022--as HUB has regained its footing and is currently tracking a highly-encouraging uptrend. From its May 12th yearly low, HUB has climbed to over 600ILA and counting. Meanwhile, the rest of the market is getting clobbererd--as you can see, QQQ and leading cyber ETFs like CIBR and BUG are all down around 4-5% in the past month. Similarly, two of HUB's closest peers in the confidential computing sector--PANW and FTNT--are also down about 2%. Though confidential computing seems to be outperforming tech/cyber as a whole, the niche is still in the red amidst rising turbulence on global equity markets. So what is behind HUB's recovery and recent gains?
I added HUB to my watchlist back in March following their SPAC deal, and have been closely watching as their SIR inched upwards MoM. HUB's SIR moved from 0.48 on May 12 to 0.84 on May 19th and then 0.82 on May 26th. That means >80% of trade volume was dominated by short activity. The company has clearly been making moves to combat malicious shorting, including the company's announcement of intention to buy back $4.5M USD worth of shares in order to force the shorts to cover. On June 9th SIR had been driven back down to 0.48, helping to explain the early-month momentum. While SIR had jumped back to 0.7 as of June 16th, it looks like the bulls had already established some upward momentum. HUB SP has increased by more than 50% in the past week alone, strongly suggesting that investors are trying to establish positions in anticipation of the value multiplier shareholders will enjoy come the NASDAQ listing.
I will be interested to see how HUB's SIR looks on June 23rd, but higher-than-average trade volume and a month-long uptrend (see PVT, 30D MA shown on chart) are signs that despite the worsening economic picture on a macro-level, HUB is trading strong and girding for success on US Markets.
Datadog, Inc 80% Decline UnderwayDatadog is an observability service for cloud-scale applications, providing monitoring of servers, databases, tools, and services, through a SaaS-based data analytics platform.
Annual Revenue:
Datadog revenue for the twelve months ending March 31, 2022, was $1.193B, a 77.9% increase year-over-year. Datadog annual revenue for 2021 was $1.029B, a 70.48% increase from 2020. Datadog annual revenue for 2020 was $0.603B, a 66.34% increase from 2019.
Annual Net Income:
Datadog annual net income for 2021 was $-0.021B, a 15.49% decline from 2020. Datadog annual net income for 2020 was $-0.025B, a 46.9% increase from 2019. Datadog annual net income for 2019 was $-0.017B, a 55.27% increase from 2018.
NAS100 Forever Dropping! 😎🥱🐋No one, absolutely no one, can tell you what the hell is going on in the tech market. But we can at the least try to come up with our own explanations.
For me, I think the market is just correcting because of all the inflation scares. We may see this week turn bullish. A move up to 12 800 may be a good sign.
And a close above the open price today may start the pump up to 13k.
If the drop continues then the next support area I would target is at 10 864. Share your thoughts down below. What do y'all think!??
Make suree you secure the bagg!!! 💰💰💰🤑🤑🤩🔥✔📈
First Time This Has Ever Happened for Tech StocksSQQQ is the ETF that tracks the Nasdaq 100 ETF (QQQ) inversely. When tech stocks fall, SQQQ rises. Traders therefore use SQQQ to short tech stocks.
This is the first time, in its 12-year history, that SQQQ shows a fully red heatmap of the daily timeframe. A fully red heatmap represents extremely overbought conditions.
This is worse than the bottom in March 2020 and the bottom in 2018. This heatmap reflects that too many traders are too fearful of tech and growth stocks right now as they have all switched to shorting them.
Although it's hard to predict bottoms, this indicator coupled with the extremely low NDTH value (the percentage of Nasdaq 100 stocks that are above their 200-day moving average) could indicate that peak fear is occurring right now and that a potential rally will occur soon. The last time the NDTH was this low was on the exact day of the March 2020 bottom. Therefore, even in a recession, these values suggest bottoms.
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NSDQ Drop n BounceI think the Decline is coming to an end... weakness in crude Oil, Natgas and fingers crossed the DXY Topping out. Fed "Dealing" with inflation is the the argument from a fundamental perspective...
From a TA standpoint I can see something like this playing out.
I've been wrong before!!! NFA
Amazon Pricing in a Great Recession...This is simply an observation: The yearly return on Amazon (AMZN) is approaching the yearly return it had during the Great Recession. Are markets becoming too fearful? Are we truly as worse off now as we were during the financial collapse in 2008?
History has shown that more likely than not, ten years from now most people won't even remember why there was panic selling in June 2022. How many people remember why the stock market crashed in May 2010, August 2011, or August 2015? The VIX was much higher in each of these months than it is now.
Tech Stocks This chart highly suggests that capitulation and peak fear is finally here.
This is the chart of SQQQ, which is the inverse derivative of QQQ, which in turn tracks the Nasdaq 100. There's virtually no way that SQQQ's price can sustain a gap up like this on a weekly time frame. The gap is extremely likely to close and the price will move back below the Ichimoku Cloud resistance by the end of the week. Those who are just now selling tech and growth stocks because of inflation are capitulating. Inflation and rate hikes have been evident in the charts for over a year, and it, therefore, makes no sense to just now be selling tech.
See my post here for why I believe this is the bottom for tech:
With this said, if SQQQ does indeed close the week above the Ichimoku Cloud resistance and EMA exp ribbon then we're looking at a market crash. Statistically, this is highly unlikely to be the case though. The NDTH is far too low for QQQ to break down and crash just now. We are in peak fear/peak inflation/peak capitulation this week. In fact, this is a super good risk-to-reward entry. One can enter TQQQ/QQQ/tech this week and stop out on Friday if support breaks at the weekly close. If support holds, you would have bought in at the absolute bottom.
If the Fed hikes rates by 75 bps on Wednesday, it's quite likely that the markets will quickly rally from this low.
Not financial advice. Anything can happen. Trends can break.