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The REAL S&PAs you might have heard headlines like "97% of the gains in SNP this year are made up by the top 15 companies" "Worst market breadth of all time" Here's a chart of the big 5 (FAANG with microsoft instead of google) Those "TECH" companies are seemingly ignoring bearish economics and skyrocketing on AI But...how long will it last when people are seeing 30% lettuce inflation and the like? (Not to mention NATGAS and USOIL sitting at strong support levels forecasting another possible runup on inflation) Who knows... I'm not an oracle but here's a chart shows elliot count and pre-distribution supply level Good luck
NASDAQ:MSFTShort
by SwissMail
2
NASDAQ failed resistanceOh oh... the optimism, much as we want it given, does not appear to be. Having bounced off the middle of the consolidation zone, a surge to the upper range resulted in a weak follow through with a lower high, and a following bearish (patterned) candlestick. The technical indicatiors are trickling downwards, and one wonders if it is going to uptick... A bearish outlook is setting in (early stage now) and few things need to firm it up, besides fundamentals and news... technically, a breakdwon of the orange trendline is needed, as a follow through to the bearish reversal candlestick pattern. VolDiv should dive further down, as should MACD be clearer (tends to lag). The SG10Y Govt Bond yields appear to heads up this bearish outcome too... so watch it happen in real time.
CME_MINI:NQ1!Short
by Auguraltrader
HPQ WCA - Ascending Triangle Company: HP Inc. Ticker: HPQ Exchange: NYSE Sector: Technology Introduction: Hello and thank you for taking the time to read my post. Today, we analyze the weekly chart of HP Inc. (HPQ), focusing on an interesting price pattern, an ascending triangle as a reversal pattern. Although rare, ascending triangles can indeed act as reversal patterns, offering potential trading opportunities. Ascending Triangle Reversal Pattern: An ascending triangle is a bullish continuation or reversal pattern, characterized by a horizontal resistance line and a rising trendline that connect the higher lows. The pattern typically indicates an accumulation phase where buyers are gaining control, leading to a potential breakout above the horizontal resistance. Analysis: On the weekly chart, HPQ exhibits an ascending triangle reversal pattern. We can see a clear horizontal resistance line at $30.95, which has already been touched three times, and a clear diagonal uptrend line that has been touched twice. Importantly, this pattern is forming above the 200 EMA, reflecting a bullish environment. The price target for this pattern is $37.60, representing a potential gain of approximately 21%. Traders should closely monitor the horizontal resistance level at $30.95 for any signs of a breakout. Conclusion: The HPQ weekly chart analysis highlights an ascending triangle reversal pattern, signaling a potential reversal of the current trend. Traders should closely monitor the horizontal resistance level for any signs of a breakout. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
NYSE:HPQ
by KarimSubhieh
Intapp INTA Cloud Software Services Tech LONG As can be seen on the 2H Chart INTA is on pacing over a 350% annualized gain without any major pivots. The volume indicator shows a dramatic increase in volume realtive to the year prior. INTA is capturing alpha consistently in a hypergrowth mode as can be seen by reviewing the earnings beats quarter after quarter. This is clear and obvious entry with earnings coming on May 8th. I originally bought options last summer after the double bottom and have added a couple of weeks before each earnings . Price recently bounced down 10% from minor resistance representing a small pullback with space above in the runup for the earnings report. I see a potential return of 15% in 10 trading days or less and 75-100% for call options with expiration of 5/19/23 in consideration of the pullback described above and shown on the chart
NASDAQ:INTALong
by AwesomeAvani
Bouble bottom confirmed! $IOTAfter a double-bottom, the stock price pulled back to support and now is breaking out and getting near its IPO price. The OBV is already above its IPO levels and the MACD keeps trending higher. Also, AMEX:XLK is the leading sector, this should help NYSE:IOT price action. I entered 1/3 of the position as the market still needs more work to get aggressive. Samsara provides an end-to-end solution that allows businesses that depend on physical operations to harness IoT data.
NYSE:IOTLong
by dpuleo19
1
NASDAQ Bearish Divergence NASDAQ led the current bullish rally. NASDAQ appears to be leading the bearish divergence in this stall aka consolidation. Despite yesterday's candle appearing somewhat bullish with a long lower tail, there is a clear and present bearish divergence in BOTH the MACD and VolDiv; and both crossed under their lagging MA lines respectively. The Orange box is the consolidation range and the yellow box is the range that the NASDAQ should not be closing the day in. If it does, there is a higher probability to break down out of the orange box, into the red. And again if it closes in the red box area, the indicators should be bearish looking enough to tell that one must watch the breakdown support level next. Should be happening over the next couple of days. Now, IF there is a news related spike, it must spike above and close outside of the orange consolidation box, and then remain above the box... for the last attempt to the upside target. Heads up! Appears that we will see an increase of volatility to either side soon... 80:20 down:up IMHO
CME_MINI:NQ1!
by Auguraltrader
1
Are you bullish on DXY?Our technical analysis shows DXY testing its long-term breakout level, with positive economic cycles pushing it higher (Indicator 1) The used indicator shows economic cycles and their negative correlation with the dollar. When economy is overheated, DXY is going up! Indicator 2 - we see the positive correlation between DXY and energy sector, and negative correlation with tech. The zero line is showing S&P500 as basis point return. Green line is energy sector and tan line is tech sector. Calculations are made for 52 week returns. Despite expectations, high oil prices mean high demand for dollars. Our DXY target is $120 in the next few months. Follow us for more expert analysis and trading insights. #DXY #Bullish #Energy #Tech #Analysis #TradingInsights
TVC:DXYLong
by rodopacapital
NASDAQ closes on a clear Bullish Quarter, Month, Week and DayJust an add on to the earlier analysis using the NASDAQ futures Daily chart. The weekly analysis says it all, and is in alignment. A truly bullish end to the Quarter, Month, Week and Day as described. Technical indicators are bullishly aligned. Weekly close and maintaining above 14,382 is a MUST for a longer term primary trend change to happen (above the green dotted line); currently primary trend not yet bullish. Fortunately or otherwise, there is confluence for the Daily upside target at 14,400. For more information about this point, do look into DeMark indicators.
CME_MINI:NQ1!Long
by Auguraltrader
NASDAQ - Bullish Break Out!Previously posted about the candle that broke the market's back. It continued to test resistance for the next few days, and then broke down marginally, only to fake it and in one session reversed to close at a recent high. And this followed through to close the week in a massive three day streak of higher high closes ending with a bullish marubozu! The technical indicators are all good and aligned, crossing up and looking for more upside space. Green circles mark descriptions. Clearly BULLISH. A wonderful end to the week, the month, and the first quarter of 2023! Going forward, in the short term, any pullback to test the 12,900-13,000 support area should see a quick bounce. Upside target is now 14,400 (end April, early May) In contrast, breakdown zone is now below 12,800. PS. I still see 2023 as comparatively more volatile. For now, there appears to be some stability in the trend, so I would just go with the flow until near to the time when the music stops.
CME_MINI:NQ1!Long
by Auguraltrader
NASDAQ Bounce - how high??Someone gave me a heads up earlier this week that ChatGPT returned an answer to say that the market will tank on 15 March 2023. While I see it a little more different, I still keep an open mind as a lot can happen in a week (as we know in recent years). So first up, ChatGPT is an amazing quantum leap and it is one of those triggers that form a tangent in our development time line. To me, broadly this is like when Google met Siri/Alexa. That said, perhaps the 15 March is a collation of expectations. Nonetheless, looking into the technical picture for the NASDAQ futures, NQ1!, gives a technical collation of the happenings in the past weeks. Previously, a retracement target was marked out on the weekly chart (faded yellow ellipse). Since then, the NASDAQ made a lower high, and pulled back to the 50% Fibonaccie retracement level and support level about 11,800. And Friday clearly broke out of trend. So, now how? First, we look at the green and red dotted lines. These are the TDST levels that need to be broken to have a trend in force. According to the current TD Sequential, the NASDAQ is still in a bullish trend, and just finished a Buy Setup on Thursday, hence a clockwork bounce thereafter expected (and happened). Next, looking at the range support resistances, we see the green and red rectangles. Breaking out or down with a decisive close and technical alignment (MACD and VolDiv) confirms the trend. Taking into account the MACD and VolDiv, both are retracing, but are not yet bearish. So taken together, we can expect a bounce, which probably just started. Watching the strength of the bounce is critical, and the first check in point is about 12,500. A trend line connecting the last two highs also point to an approximate area at 12,500 (yellow ellipse). Noted, the MACD is weakening, and so is the shorter term VolDiv. So not yet crazy bullish. Overall, expecting a lower high (at this point). And going back to the "15 March", although long range analysis not shown here, it appears that May to Oct is a deeper down time. Will update on this in time...
CME_MINI:NQ1!
by Auguraltrader
FNGD IMPLIES TECH IS BULLISHThere is one gap, and one weak trend holding up this pump. TBH, in about 90% of cases I've seen, this weak trend won't hold up, and should favor the downside. This means that tech should be bullish in the upcoming week. With the current market, we can't really know how long that will last, but I assume now that the SIBV news has broke, along with the student debt news, I'd imagine we could see a small pump to technology incoming. If that weak trend were to hold up allowing indicators to bottom out again, then a potential push to close that gap is possible.
AMEX:FNGD
by nicktussing77
ANET: With a Breakout, a Clear Transition to the Advance ZoneArista Networks, Inc. broke its key resistance and entered the advance zone on strong earnings growth. It stayed trapped in the price channel ($100-$140) for more than a year due to the downtrend in stock markets. But now with good volumes and steady growth behind it, it's taken a big step. ANET's revenue grew 49% (TTM) and income 61% (TTM) and is expected to continue its growth momentum. This cloud computing stock is a very good pick over the long term.
NYSE:ANETLong
by starringinvestors
Snowflake: Snowed Under ❄️Snowflake seems to be snowed under with work. The share has a great deal to do, but is currently delaying the anticipated ascent, gradually sagging towards the support at $110.27. There is a 33% chance that the course might drop below this mark, thus developing wave alt.2 in turquoise earlier already. However, we primarily expect it to climb above the resistance at $205.66 first to lodge the top of wave x in magenta before moving downwards again. Wave 2 in turquoise should then return Snowflake below $205.66 and carry it below the support at $110.27, introducing fresh upwards movement afterward.
NYSE:SNOW
by MarketIntel
1
headed toward multitimeframe long term resistancethis stock has exploded to the upside, retraced a decent consolidative amount, and taken aim for that high. there is a large uptick in the fair value calculation that makes this a strong bullish move. there are different scenarios. one is that we set a lower high on an overbought 4 hr level. another is that we go straight for the high and taper off, and the other is that we break the highs and head for the long term area high right over $34.
NYSE:AILong
by cerealpatterns