EchoAlphaBravo

EchoAlphaBravo

Shares of SNAP have been beaten down for weeks now, but today's decline has shares testing an upward sloping trend line that's held on multiple tests so far. I just jumped in via April 20th $15 calls for 32c.

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EMLC has just experienced a bullish breakout of a wedge pattern. That occurred above support (23.6% retracement of all-time high to all-time low), which lends to the bullish slant. It's also recently tested and held a rising channel bottom and had a bullish breakout in the RSI, further strengthening the bullish setup. Volume has been robust and accelerating, as...

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Nine years in, and SPX has rallied 258% (total return much higher with divs) off the ominous 666 level (666.79, to be exact) that was the low point during the financial crisis. As the Elliott waves suggest, we could be in for a steep decline to test the double-top-breakout level at 1510, which using recent all-time highs, coincides with the 61.8% retracement of...

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Shares of TD appear to be pulling back to test a breakout level at ~$53.50, which coincides with a rising channel bottom. I'm a buyer at that level and will be targeting ~$66 on the upside, or +23% from here. In a rising rate environment and given the technical setup, I expect shares to outperform over the next several months.

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BTCUSD is sitting near long-term support, the 61.8% retracement from all time low to all time high. Of course, its not a coincidence that this level was also a breakout level back in November, which has held two retests so far. It needs to hold this area yet again if bulls are to regain control. It may take time to consolidate, and the heightened volatility and...

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After yesterday's 7% pop, MSFT is giving up all those gains, forming a massive bearish engulfing candle on the daily chart. I think we're heading down to $84 at a minimum.

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Shares of TWTR are looking vulnerable after breaking below post-earnings channel. There's an open gap that needs to be resolved, and given broader tech concerns and high valuations, I'm shorting it (again).

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This long-term monthly chart with the wave count (assuming its accurate) on it suggests we've made our high. A rally over the next few weeks should be viewed as an opportunity to sell at higher prices, and even short outright. I think SPX still needs to flush out again, but we may have our short-term swing low in place. Expecting a retrace of the swing back in the...

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Shares of FB getting beat up again today with FTC investigation news. While I'm definitely concerned, I think this is mostly noise and will pass eventually. I'm looking to buy on a test of this long term trend line, currently just north of $150.

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European banks (DB, BCS, LYG) are getting crushed lately... here's where I'll take a shot at a long play on DB, but on tight leash!

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The HSI seems to be forming a double top on a long term chart. RSI has broke its trend, suggesting weakness ahead. Also facing headline risk with trade war noise. Shorting in to strength for a longer-term bearish play.

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XLF is approaching massive resistance at $30, the peak prior to the Great Recession. It appears to be forming a double top, which if cleared will open the door for a huge rally. Conversely, a failure would open the door to a large correction. Very short term (next week or so), I think we see buyers lift prices (I'm long 3/29 $29's), but I believe we ultimately...

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After forming an island reversal last week, complete with a massive bearish engulfing candle off of all time highs, the break below the trend line support and 20dsma seemed fitting. Today's action was bearish, as volumes were subdued relative to recent down days. This suggest that few participants are eager to defend prices in a significant way and bid the market...

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BTCUSD is nearing major support that must hold for bulls to regain control. The 61.8% retracement from the all-time low to the all-time high is at 7598. A failure there opens the door for a decline to 4257, the 78.6% retracement of the same swing. I suspect an extended consolidation period will occur given the magnitude of the price swings, so multiple tests of...

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SPX appears to be setting up to move higher in the short term. I remain intermediate term bearish, but several important supports were held this week even with consecutive down days in the market. Volume was robust, and recent market leaders showed strength, especially in to the close.We broke above falling trend line resistance at the beginning of the week and...

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Shares of Intel Corp. (INTC) are breaking out of a triple top on the weekly chart going back to the end of 2014. Potential upside targets are around $41.5 in the near-term and $46 in longer-term when using the 127.2% and 161.8% extensions, respectively. Support around $38 needs to hold to confirm the breakout.

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The iShares ETF that tracks more risky micro-cap stocks - IWC - reached an important 161.8% extension of a prior move. I think we could see a pullback from here to re-test the breakout level around $90. If appetite for risk stays strong, it could be a short-lived pullback, or if investors reduce risk, this could suffer more than the main indices and their ETFs.

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Visa experienced a breakout on the weekly chart, breaking a trend back to January 2014 (nearly 4 years). If shares can maintain the resistance-turned-support trend line, shares are heading higher.