ContraryTrader

ContraryTrader

So.... I'm looking for a rebound this week early on from Smallcaps, banks, and cyclical. All last week everything non tech sold off.. it all started with TVC:NYA hitting this monthly trendline As you can see, this has been resistance for about 5yrs and every time it has tagged , a correction has followed. To make matters worse , July monthly candle finished...

ContraryTrader

Looking for a top this week The top of this monthly trendline dating from 2009 should be tagged this week around 643-645.00. As you can see price can grind up here for weeks until the BIG drop. That grind would possibly be distribution with A range trade of 620-640 for the month of august. historically Sept is very bearish and could see a drop back below...

ContraryTrader

Long term, I think this stock is headed back to 300-400... Short term I think it's a high chance we see 740-800... Let me explain Back in Feb we tagged our long term resistance, corrected and then we retested it with a lower high on the RSI (Bearish divergence) that you can see on the monthly and weekly time frame Last few weeks Meta has pulled back while...

ContraryTrader

Looks like 250 is incoming on this stock V-shape recovery happening in real time Don't put too much Emphasison this rising wedge in terms of bearishness.. just use it as a range to trade... Will most likely trade inside of it until a catalyst comes to push it to breakout to the upside Looking for 230 this week I like any Dips down to 222. Range will be...

ContraryTrader

Big week here. Rarely do you get big banks and big tech earnings on the same week.. Jpm, Goldman sach, and JNJ are dow jones heavy weights. This is important because I think Dow will close that gap at 44,850 and most likely retest ATH at around 45,000. As long as dow closes above 44,200 Monday, they will do this move Now logically you have to ask...

ContraryTrader

Price has formed a pretty big bullish wedge here. In the next 2weeks I expect baba to push back up and close gap at 115.. From there we could pullback to retest falling wedge or push higher .. This wedge should push baba back to close gap at 160 minimum

ContraryTrader

255 is my target here which represents a 10-13% correction from current levels I doubt we break below 250 before sept.. eventually this stock will head back to the bottom of its long term channel For now I think we close this gap at 279 .. most likely a bounce will come there because of the daily 20ma Price could close gap at 292 with earnings and then...

ContraryTrader

Edged up to the top of resistance here. Expecting a correction back to 176-185 area here 1hour chart Here's the uptrend since april.. The support would now be around 227. I expect a pullback to that area this week and if support holds price could bounce back and tag weekly resistance around 240 but I don't think price will linger long above 230. A...

ContraryTrader

Sooooo.. the technicals are flashing red. No earnings No fed Speak No economic data We'll need a catalyst to get the reset going. There are 2 catalyst 1. Tariffs 2. 30yr bond auction Thursday I actually think between July 7th- 17th We will retest the previous high between 610-611. Depending on how long this takes the 20sma should gravitate...

ContraryTrader

So I just wanted to focus on the next 2weeks of trading.. To summarize what I think will happened We make another high around 620 by End of this week. That high will most likely coincide either the Bill passing through senate or and the Non farm payroll coming out Thursday. Summer melt up seasonality is in progress. Historically the week of July 4th ...

ContraryTrader

Interesting spot here ... Bulls see Inverted H&S Bears see , rising wedge I see an inflection point. We are sitting at the bottom of a wedge.. depending on what happens the next 2 days We either test 204 or 217 Below 208.00 and iwm goes straight to 204.00 Above 212.00 and 217 comes ... 209 is daily 200ema 216 is daily 200sma and weekly...

ContraryTrader

Rising wedge here approaching 130-133 double top resistance.. Daily candle extended outside bband.. Look for a pullback to 96-105 Entry 127-131.. Stop loss - A close above 134.00 SOXL (Chip sector) hasn't broken out and the weekly candle finished bearish so I don't think AMD will move over 130 If price does close above 134 then 180 is incoming

ContraryTrader

Simple trade.. The moving averages shown on the chart are the 20/50 ma.. if aapl closes above 206 then long aapl back to 213.00 If aapl drops below 200.00 then short price back to 193 gap close.. 7$ move either way.. Aapl overall trend is neutral . I do not think aapl will break above weekly 20sma at 215.00 if it does pump. 215 would be a great area to...

ContraryTrader

Rising wedge just like Qqq, Spy, and most of tech sectors... Price should begin the decline down to 112.00 with a pit stop first at 128 or 200ma .. I expect a dead cat bounce there back to 134 before the next leg down As you can see here looking at the Chip sector SMH You have a similar Rising wedge at .236 fib. And you can also see that .236 has been a...

ContraryTrader

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

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

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

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