AdvancedPlays

AdvancedPlays

VX is starting to look a little more lively after today. It has held the major low around 15.80 several times and has an inverse H&S. That combined with the descending channel breakout could spark a quick rally up to 16.80. Getting a little more cautious with longs now but bullish structure on pretty much everything else important remains. Short version - range...

AdvancedPlays

Big recovery for SNOW after making new all time lows earlier in the year. Now it's been chopping around up above the $170 area. Looks really good for a long right here if it can hold, good risk reward as well.

AdvancedPlays

LULU has been on a huge run since August to recover the majority of the losses from earlier in the year. Now it's all the way back up to the major trendline it broke below earlier this year that started in 2020. Coming in for the first retest, would expect a rejection of some sort here. Downside target would be around $356, upside is around $450.

AdvancedPlays

I posted a longer term bull flag for SOXX on the top 5 list this week, but here's another shorter term one on the 15m within the larger one. Nice recovery today back up into the wedge, Good potential to breakout and head to the top end of the larger bull flag which could lead to even more upside if that breaks. Bullish chart after some weakness earlier in the...

AdvancedPlays Updated 

SQ made the top 5 list two weeks in a row. Don't usually like to the post the same tickers back to back, but it worked last week and I like the looks of it again. Got a nice breakout and now it's holding $94 and forming another bull flag/wedge. Looks great for another long with a stop below $94.

AdvancedPlays Updated 

This is a clean ascending broadening wedge/megaphone for the mag 7. Currently trying to bounce at the bottom end with potential support below near 2,225. Important to watch moving forward this week, I would be cautious if it does break below 2,225. Bulls get the green light if holds the wedge/2,225.

AdvancedPlays Updated 

I'm seeing a lot of bullish structure heading into CPI. Looks to me like bullish consolidation across the board, but important to note that if CPI turns us bearish that makes it even worse. For now, charts are pointing up in a big way. AMZN has been a market leader recently and has another bullish pattern here which could lead to another move up to make a new ATH...

AdvancedPlays

Here we go again, two downtrend breaks in a row and sharp recovery after some serious volatility and liquidations earlier this week. Looking for a move up to 2.65, might be good for a long if it breaks and holds on a retest.

AdvancedPlays

The inverse H&S on NVDA didn't really play out. Never reclaimed $140 for more than a few minutes. Overall semis have been relatively weak this week. Still waiting for the bulls to step in on this thing as they usually do on all drops. Might not be in the cards this time, but the market conditions support a recovery and if it can manage to breakout of this...

AdvancedPlays

CPI will be an important event tomorrow an hour before open. I believe the most important thing will be the reaction of the fed fund futures. Currently the target rate is sitting at 4.64 and the market is pricing in an 86% chance of that rate moving down to between 4.25-4.50. As long as this expectation remains, I think we'll have a bullish to flat end to the...

AdvancedPlays Updated 

SPY filled its gap right before close and looks good for a bounce here if you ask me. If it does bounce tomorrow I'll be looking for a break and retest of the bull flag for a move up to ATH. Downside targets would be $602.50 and $600. $600 would be an enticing long, but starts to look more bearish if it breaks below.

AdvancedPlays

My personal sentiment for the market overall right now is bullish for the shorter term, which you can probably see in my ideas the last few weeks. CPI is tomorrow and there's strong potential for downside, so I'll make one bearish idea for the top 5 this week. AMD has been the red headed step child of semis this year, kind of sad to see. Now it has a major trend...

AdvancedPlays

Rough day for tech and semis so far. NVDA failed to reclaim $140 but still has a bullish chart overall. It was idea #1 this week with an inverse H&S that is still valid for now. If we see both NVDA and SOXX begin to rally it would be a good sign that SOXX is about to breakout of this bull flag while NVDA holds the neckline. SOXX is right in the middle of the...

AdvancedPlays

NVDA had a bearish close last week and it got even worse this morning on China news, gapping down below $140. However, if it can quickly reclaim, which it is trying to do now, it could be a nice recovery. We also have an inverse H&S. This $140 level should provide good movement in either direction. Current bias is up due to market conditions and NVDA overall...

AdvancedPlays

BTC has broken back below $100k after a brief move above. It flushed pretty quickly after breaking below its rectangle of consolidation. Now is the spot to long for those who thought they missed the move. Anywhere in this $100k - FWB:98K area should be good as long as it remains above. We have a previous ATH in this area along with some other resistance levels...

AdvancedPlays Updated 

We have a lot of bullish crypto charts right now after last week's move up. BTC finally broke above FWB:65K , but is stalling for now. As long as it holds as support now, I'd expect a move up to the top end of its bull flag. It'll be critical what happens from there, a breakout above will almost certainly lead to a test of ATH and potentially $100k. I'll be...

AdvancedPlays

VX has just broken above its ascending channel, just barely. Definitely could go either way still. Today was a little unusual with VX and stocks rising together. Could just be some hedging before Powell or something, but normally this type of action leads to a sell off in equities after. Hard to say how big of one, especially in these conditions. VX has...

AdvancedPlays

XRP has been consolidating recently, we had some shorter term wedges and things but this one has had a lot more time to develop. The current range should be between 126- 164. If it breaks 164 I'd scale some longs out and we'll have blue skies above. Flag pole target would be near 200 for a final target.