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AdvancedPlays Updated 

DXY recently reached its highest level since 2022 after a huge rally off of $100. This is a longer term monthly chart. We can see what appears to be bullish consolidation since 2022 between $100-$105. The next move will be up to that 2022 high followed by a move back up to the 2001 high and potentially higher. This will be a disaster for equities. US treasury...

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QQQ just broke below its uptrend from the August low, it did break once before but that lasted less than a day below. This looks bearish to me, expecting a move down to the previous ATH around $503 and then back to where the election gap was if that doesn't hold. The most important level for longer term will be the trendline below from November 2023, seems bad if...

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SPY almost came all the way back to fill the gap but failed to breakout of its descending channel. Will be looking for upside if it can fill that gap and continue back up towards $602.50 and ATH. To the downside watching $585 and the election gap fill for now.

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MSTR is finally beginning to fall now, about 45% off the ATH from only one month ago. We had a good example of what buyer exhaustion looks like with the dramatic reversal and volume spike at ATH. It has been rolling over ever since but finally broke $371 and accelerated. Now I'm watching the gap fill just below $280 for a target. Next would be all the way back...

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Similar charts for COIN and BTC as usual. Will need to see them move in unison for confirmation. Both had an uptrend break recently and came down to support to close the week. This looks bearish to me so as long as BTC falls below $93k and COIN falls below $270ish I'll be looking for shorts targeting $85k on BTC and the gap fill around $197 for COIN. Bias will be...

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it's important to zoom out frequently to gain some additional perspective. I've given some wild targets for the next 12-18 months and most probably think it's silly, but I can assure it is not. I don't have to be right and it may not be as bad as I think although I highly doubt that. Either way, this is a one month chart going back to the late 90s with what I...

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SPY came all the way back up to 602.50 and rejected, but not by much yet. Seems bullish if it reclaims soon, bearish below. Downside targets are the recent bottom around 585 followed by the election gap fill below and then a previous ATH around 565. Upside targets are ATH and beyond.

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I think I've made my point with my thesis on interest rates, but I will continue to beat this drum until something breaks. Something is going to break soon. The market is fighting the fed ever since they started cutting and the market is calling out Powell's rate cut nonsense. They cut by 100bps, but yields went up 100bps. This is very concerning and we've seen...

06:04

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We got more action than I thought we would today for sure, makes things more interesting. There's a lot of bottom signals I'm seeing right now. Probably best to wait a bit to see what happens in early Jan, but here's my thoughts moving forward.

AdvancedPlays Updated 

The market is beginning to look a lot more bearish this week IMO, so starting to look at some short setups after only taking longs basically since the election. Wouldn't be surprised if we had a bullish reaction after FOMC and into the end of the year, but expecting downside at this point. NFLX may be a good candidate for a short, clean channel break and has...

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SPX had a clean break and retest of its ascending wedge last week. It was a strong move back up off of 5850, but it rejected on the retest. Range is now from 5,850 to ATH. Looking to see if bulls can reclaim that trendline or not. For now I'd be bullish above 5,850 and bearish below. Downside target would be the election gap fill and/or the previous ATH around...

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We finally got some volatility last week and a big short squeeze. Was a pretty good week to trade, but I'm not expecting much this week. It's a short week and I plan to take most of it off, but we'll see if anything happens worth noting. Here's some paths I'd expect for ES in the short term. So far ES failed after about a 61.8% retracement. Fairly big range from...

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I'm beginning to get more bearish for the short term but for now ES continues to hold support around 6,113, which was a previous ATH from the post election rally. It's bullish until it breaks. My best guess is that it will break and will potentially provide a good short opportunity for a move down to demand and a previous swing low near 5,950. Next downside target...

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Looks like the market is preparing for some volatility heading into FOMC, which is not something not we've been seeing as of late. We could be due for a sharp correction if this continues, but of course it could also just be some hedging and might not amount to anything. Pretty good looking chart, nice bounce off the low at 15.80, but for now it is still in the...

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I posted a similar idea last week for SNOW, but after seeing it this week I think it deserves a spot on the top 5 list. Just had a nice bounce after retesting the $166.50 area. Still riding momentum off the massive earnings move. On top of that it has reclaimed a trendline from the recent high. First upside target is $176 and then up to the recent high around...

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This is looking like an epic setup for NVDA, make or break here. Recently we had a shorter term inverse H&S that failed, but the longer term H&S remains valid for now. We have several things going on here, all of which looks pretty clean. To summarize: - Major support at $131.50 that was previous resistance from August. - Head and Shoulders with the neckline...

12:32

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Meme stock mania started with GME in 2021 and it has marked the top in the Nasdaq nearly every single time. I talked about the BBBY squeeze in 2022 and GME throughout the years. I've seen this happen over and over, it doesn't have to repeat, but this yet another strong confirmation of a top.

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We saw some downside in tech and elsewhere today, pretty big hit for ADBE. Usually in this market when NQ pulls back it does not last long and we end up with a series of stair steps and bull flags moving up. Took a breather today but are still riding strong momentum. AVGO getting a big pop after hours after earnings which led to NQ gapping up above its flag,...