ContraryTrader

ContraryTrader May 31

First off.. that weekly candle was horrendous Rising wedge here.. you can see it on the rsi as well The target of this rising wedge is 300 or daily 200sma.. Lets see how wed get there.. We would need to break below 330.00. 351-355 will be strong resistance if you see a test up in that area I would open a short for 330... cover at 330 and wait for the...

ContraryTrader May 31

Going over Spy Dow jones NYA I'll keep this mostly cylicals and broader market.. I've written up a qqq post where I cover most tech indexes.. Let's start with NYSE or TVC:NYA This covers 3000 stocks.. you ever read about weak breadth in the market? Well when ever this is Lagging behind nasdaq and the market is being dragged along by 6 tech stocks then...

ContraryTrader May 30

In the coming the tech sector will rollover and correct 10-12% in the month of june. This will represent a 50% retrace from April lows Weekly RSI is tagging Divergence resistance www.tradingview.com This space has only room enough to chop around for another few days so I'm thinking some news either comes out over the weekend or next weeks eco data comes...

ContraryTrader May 28

Over sold on the weekly here. Daily MACD just flipped bullish . Last weekly candle was an Inverted hammer Looking for a big move back to 380 before summer is out.. Bullish Pennant setup here

ContraryTrader May 3

Remember this, when it comes to technical analysis, anything that goes up really fast form's a rising wedge most of the time and anything that drops quickly form's a falling wedge. The Spy has risen 12% since April 21 and after this week i we will give half back and head to 533-535. As you know market goes no where without tech.. So I'll just show you the...

ContraryTrader May 1

Ascending broadening wedge pattern showing here.. Monthly RSI is over 80 which means NFLX stands a higher chance of tagging 700 before 1300.. Daily RSI and Money Flow is absurd Weekly candle is outside Bollingerband It's just red flag after red flag for this stock I don't think this clears 1150 and I think the next stop is 900 before a dead cat bounce...

ContraryTrader Apr 28

Looking for a leg up to its weekly 50 sma or 174 gap close Current pattern is A double bottom with pullback (Handle) Strong long over 161 Stop below 158 One of the things you notice on bullish pullback is the decreasing sell volume .. that usually means a bear trap.

ContraryTrader Apr 26

King of the Meme.... Abysmal quarter and guidance yet stock is holding 😆... Keep it simple, I think tsla will test its 200ma this week at 291, from there we should see a reactionary pullback.. As long a 275 holds, then 315-318 is next up .. Below 275 and 250 comes next .. The full measure move here would be 360.. but that only comes if AMEX:SPY is...

ContraryTrader Apr 26

April seasonality finally showed its self this past week.. You can always tell when seasonality takes over because of the volume and the fact that news doesn't matter anymore. Example - March, Sept and sometimes May are bearish seasonality.. In these months you'll notice that no matter how good the news or earnings stock still stumble... Nov, Dec, April...

ContraryTrader Apr 17

I think we head to 510 next week and most likely lower... Here's vix 2hour chart (Log) Pennant here showing. My price target next week is 45. Fire works over 35 AMEX:SPY daily RSI Rolling over here at resistance Spy daily chart Pennant resistance trendline at 21ema is at the same spot 540 ish.. if price can close over that before a break below 520...

ContraryTrader Apr 9

The question over the next 2 days will be is this move up real or not. First, let's look at the position things are in now. 1.Seasonality is very bullish around this time 2. Technicals are oversold and market bounced off some solid supports. 3. Earnings season is about to begin, and in my experience you usually don't see that market crashing in the middle...

ContraryTrader Apr 5

Soo... I will go in detail for you so you can see where my POV comes from.. A summary of this post is a bounce. Back to 525-530 and then a possible new low to 470.. Let's start on the monthly time frame.. I will show you the chart regular then I will show you log scale (Logarithmic). AMEX:SPY regular Price is nearing a 5yr trend support That support...

ContraryTrader Apr 2

I think we have one more leg down to 538-540 before earnings season kicks off next week .. NASDAQ:QQQ and TVC:DJI showing same chart I will update this more later but I wanted to get this out before market closes... Of course if we gap above trendline resistance and CLOSE above it the the resistance is negated . Another, you see that gap from...

ContraryTrader Mar 30

Monster run the last 12 months... To see where we are headed we have to see how we got here Monthly chart Is showing 2 patterns 1. Cup and handle The measured move of this pattern is usually based on the depth of the cup. In this case the depth is 44% and the stock has rallied 50% since 2. The handle part of the cup can be viewed as a Ascending...

ContraryTrader Mar 30

Meta has really been then engine behind NASDAQ for the past 8 months.. Nvda and MSFT both took a back seat and traded sideways since mid 2024 but Qqq was able gain another 7% from July high until February Top on a few names and meta was a big player. Going into Q2 and Q3 the technicals are showing me that Meta will most likely take a major Haircut cut this...

ContraryTrader Mar 29

Logarithmic chart for the parabolic move White trendlines - Ascending broadening wedge (Bearish) Yellow trendline - Primary trend and final target Looking for a H&S play out here on PLTR for the next 2 quarter.. I don't think this stock ever breaks back over 100.00 this year! The head is forming now and will be completed at 63.00.. then comes the...

ContraryTrader Mar 29

My last post on googl (See below) I showed you the rising wedge on googl at 200.. 25% later here we are.. This is a long term view. This the great reset back to the primary trendline.. This is logarithmic, logarithmic or log scale comes in handy to chart stocks or indexes that have made a parabolic move . Here's the monthly trend As you can see , with...

ContraryTrader Mar 27

XLF banking sector is rolling over and this is one of the best setups I can find going into earnings Q2... My target is 64 gap close By beginning of May. Stop loss over 76.00 or 50sma. Here's XLF.. same wedge at the 50ma