Audacity618

Audacity618

Financials are on a solid run after trade dispute worries fade and interest rates are coming back up. I think it's a little overdone with this exhaustive looking move today, Thursday. I find this harmonic pattern to be an interesting trade and will start to ease into small put spread positions looking for a reversal point.

Audacity618 Updated 

Utilities and Real Estate sectors (XLU XLRE) both are down big on an up day for the overall market which is a signal that portfolio managers are rotating out of "safe" stocks and into "risk" stocks. Utilities chart looks like it is about to break below the 50 day after hitting all time highs at the 1.618 fib extension. What I like about shorting Utilities is that...

Audacity618

Double confluence with the 1.272 Fib and blow off the top exhaustive candlestick after earnings. Last two earnings, we saw pops as well followed by weekly drops. I would like to see AAPL hit $258 before shorting back down to EMA 20. Purely technical setup not fundamental.

Audacity618 Updated 

AMZN is still in a bearish trend with the longer day MA higher than the shorter MA seen here using Tradingview's default MA Exp Ribbon template. Using a pitchfork for the downtrend here is holding true and the retracement levels from Dec 18 (low) to Jul 19 (high) is showing confluence with historical support levels. I would like to see Amazon sell off to 1600 or...

Audacity618

Short term hour chart still is bearish . We are retesting ~1487 resistance/support level but see gold fading back down to 1460s.

Audacity618 Updated 

Confluence with upper channel and fib retracement of .76

Audacity618

Short here. Good trade progress putting pressure on safety havens like gold and treasuries.

Audacity618

I'm hoping the dollar weakens and commodities like oil can bounce off support. This is a short term swing trade idea (2-4 days)

Audacity618 Updated 

The amount of money pouring into utilities is no joke. In a world of slow growth, low interest rates, and trade uncertainty... utilities are a no-brainer with stable earnings and dividends. But like anything that can seem like a no-brainer, over-crowed pilling occurs and price extension of the underlying can cause unrealistic valuation to long term perspectives....

Audacity618

If you think we are in for more market headline risk, I would start looking at some long volatility etfs like TVIX, VIXY, VXX, UVXY that can provide upside during spikes in sp500 option premium. I think the market is a little too calm for some of the market headline risk we still exhibit with ongoing trade war, brexit, and now impeachment.

Audacity618

SP500 looks weak with uncertainty in the latest trade war developments. The Psar is signaling a bearish rollover as the SP500 is under the 20 day ema with divergence in RSI.

Audacity618 Updated 

Technical Confluence: -Stochastic stretch -5% envelope resistance -Long term downward trend line resistance -Long term horizontal trend line resistance

Audacity618 Updated 

The Fed could spike gold prices if there are hints that 3 rate cuts are likely this year. I would expect the US to follow the ECB with a rate cut and reassuring market that they will cut more if data shows more weakness. However, Powell has been hawkish and cautious of unwinding previous rate hikes in prior Fed minutes.

Audacity618

I've posted quite a few short trade opportunities lately, but this one is a bullish setup. With any new post-IPO there can be opportunity to take advantage of wild swings in the first couple months of trading. LYFT (like UBER) went straight into the doghouse with wider than expected losses for the newly minted stock. It's trading ~50% lower than it's all time...

Audacity618

Post-IPO Beyond Meat is losing steam here as trader's grip with reality of fake meat market share size and the caution of sell warnings from analysts. From a technical outlook, a head and shoulders pattern doesn't get more textbook than what we are seeing now. The right shoulder could accelerate downward from here as the reliable daily psar trigger flashes a sell....

Audacity618 Updated 

I like spotting a good hanging man after a parabolic run. Roku has been on a bull run with robust growth prospects in OTT, launching new products, and analyst upgrades. Personally think it's way overdone and price is higher than most analysts have it. Shorting a parabolic run is dangerous but can be rewarding as pull backs can be fast and profitable.

Audacity618

The weekly candlewick from Monday's reversal is sending a bearish signal to gold. This comes after Trump and China decide to continue trade talks given the escalation over the last month. I see gold retracing back under $1500 an ounce from profit taking and technical sell signals. Looking for CCI to get back under 100 to send another sell signal wave. This log...

Audacity618

Spikes in treasury prices as long term rates fall off a cliff sets up an interesting contrarian trade opportunity. The entry to short treasuries here with options (short term: put debit spread or call credit spreads) look appetizing at near all time highs. RSI combined with trend lines offer a technical calculation of "top". Trade at your risk, I'm currently short...