Eclubtrading

Eclubtrading

Yesterday’s rally in the $SPY confirms our hypothesis that the overall market looks like an inverse head and shoulders with the neckline at 440. The measured move if confirmed would take us above the all time high. We are cautiously bullish for the end of the year as seasonality is in our favor. Major headwinds such as inflation, treasury yields, chip and labour...

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$AMZN has been the weakest link in the tech sector and has been sitting below its 200EMA for a long time. With futures down big this morning, see if it breaks below 3175 for a complete breakdown. The chart is looking like a classic head&shoulders pattern with the neckline around 3175. In case it completes, the calculated move down is towards 2500 with a possible...

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$MSFT lost a key support level at $286 earlier today and drifted below Friday’s low. It is again in no man’s land as the current market shows no memory. $MSFT had the cleanest reversal on Friday but lost all the candle today. Stay tactical and continue to use tight stops to avoid big losses. We are heading for the 200EMA in $QQQ if nothing changes on the macro front.

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$TSLA continues to act extremely well despite the overall weakness in the markets. It announces delivery numbers on Friday. For today, see if ti can build above 780 before reaching the next resistance spots at 795 and 799. 765 should provide ample support. We are long $780 calls for this week. If $TSLA gets sold as well, expect the selling pressure to intensify in...

Eclubtrading

The overall bloodbath in the markets yesterday left the main indices in oversold territory. If history repeats itself, the double bottom formed in the $SPY should account for the beginning of the next leg higher. If the current headwinds persist, the bears will need to push the market below $428. $435-436 will be an important level for the bulls to reclaim today...

Eclubtrading

The overall market displayed an impressive rally from Monday’s lows to fill the gap and reclaim all momentum lines. For next week we are cautiously bullish as we have the end of the quarter rebalance and the new monthly inflows. Most dips should be a good buying opportunity as we head into the earnings season.

Eclubtrading

$TSLA has been acting better than most stocks throughout the week amid weakness in the overall market. It finally pushed above 765 in order to open up the chart for higher prices. We were long the $750 calls which returned 300% profit. The next move higher should take the stock in the 780-820 area. Most dips should provide a good buying opportunity as long as it...

Eclubtrading

$AMZN is playing catch-up with the other tech stocks as its rebound has been weaker. For today, it will be on our radar if it manages to get above 3419 and start to fill the gap. We have a target of at least 30 points to the upside if the market conditions allow it.

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$SNAP has been the best acting social media stock despite the extreme weakness shown by $FB recently. It is looking to clear the recent post-earnings channel for a move above its all time high. We are long some $75 calls expiring next month. Possible candidate for a day trade through the pivot at 80.85.

Eclubtrading

$TSLA has been one of the best acting stocks amid the recent sideways-downtrend action. It managed to reclaim its moving averages quickly and filled its gap to 750 yesterday. See if it shows any relative strength today to clear 765 for a move towards 780. Still long $750 calls expiring tomorrow.

Eclubtrading

The tech sector had a decent bounce off the FED’s speech. For today it will be important to complete the gap fill from Monday above 372.76. Trim some names into strength and look for a possible continuation after the first 15-30 minutes of trading. We are still below important momentum lines.

Eclubtrading

Strong rally in the indices as the FED came in rather dovish last night. Strong pre-market action above Monday’s gap. Holding above 441 throughout the day might be an indication that the recent downtrend came to an end for the moment.

Eclubtrading

$BTCUSD managed to reclaim yesterday’s low. See if this bounce gets rejected around 45K or if it has power to push through. You can be long vs. yesterday’s low.

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$AMD has dropped 20% since its all time high. Yesterday, it posted a Doji type candle, and it looks set for a rebound rally if the market conditions allow it. Reclaiming 102.55, its 50EMA is the first foundation stone. The gap fill is higher at 103.71

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After the selling accelerated yesterday, the oscillator reached -40 and we might be due for an oversold bounce. See if the bulls manage to reclaim 436 to show some strength or the bears manage to reject price.

Eclubtrading

$TSLA has been one of the best acting stocks last week amid market weakness. See if it can hold above 740 today as it is a candidate for a red-to-green trade.

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$QQQ is well below Friday's lows in pre-market. See if it can stay above 370 for the bulls to be able to regroup. For better action it needs to reclaim 372.76

Eclubtrading

Big gap down open for the US indices is in sight. The $SPY are currently trading around 437. The next big support area is 436. See if it can reclaim Friday's low for a reversal in order to relieve some pressure. 441.02 is the level to watch for today if the bulls can regroup.