JTI96

JTI96

Typically, 2 of 3 three impulsive waves will equal in length. With wave four looking to be complete. We can project a move down based off that. A 2.4% decline in wave one has us roughly around the 285 area. That would also mean a truncated 5th, and a sign of a strong bullish move that would likely bring new highs+. Being how unlikely that does seem, we look for a...

JTI96 Updated 

MRK looks good here up to 88. Safest entry is waiting on a retest of the channel around 80. Looks even better if you believe the market is going to sell-off after the fed cuts rates. Everything sells off in bear markets, but healthcare is a "safety" investment that typically a lot of people will put money into when the market starts to sell-off the first time off...

JTI96

Visa has been a market leader all year. No concerns about it getting bought up if there is a pop in the SPY. So attention needs to be on this very volatile time in the market. Expecting there to be some support around 286 on the SPY. Look for that number to line up with the 171 support area for Visa to go long. These next three days will be important. There's...

JTI96

$328 looks like the key level here. BA is oversold on the hourly, Friday's are low volume mandatory green days typically, so a short term bounce back to around 345-347 is possible before a reversal to the downside. Either direction is possible though when the markets are smack in the middle of trade news being released. One fed official...one tweet... Looking for...

JTI96 Updated 

Broke through the wedge yesterday on high volume (thanks fed). Now in order to validate that the pattern was valid, a retest and failure of the wedge is needed. That retest has all but taken place this morning. Now we wait.... No fear shorting unless this thing somehow actually can get above the red trendline and close there. *NOT Recommendations, ALWAYS Do your...

JTI96

Not surprised that AAPL ended up consolidating on that long term trendline up until earnings. It consolidated below it though, not above, so we're still bearish. Looking for 196 after earnings.

JTI96 Updated 

Been waiting on AAPL to retest this dang macro trendline that AAPL has reacted well to since 2016. With Apple already drifting higher in after hours, all it should take is a nice Tuesday market gap up to get Apple to where it needs to be. Looking to go short at 209. Any sort of break through of this trendline with conviction, with a successful retest, get out....

JTI96 Updated 

WK just busted through some overhead resistance to new highs. It did so on light volume though, which is always a concern. I'd look for a pullback near 60 on a retest of the trendline to get in. Stopped out if it breaks back down below 58. These cloud stocks are pretty unpredictable when it comes to these breakouts, they tend to make some overblown moves to the...

JTI96

Coming into earnings selling off sets up for A pretty good reason for this thing to pop up higher, but NFLX proved that doesn't always need to be the case. RSI has continued to make lower lows on each of the last few new highs that MSFT has made. There is a lot of room to the downside for this thing to come back down to the lower trendline of the short term...

JTI96 Updated 

Purple trendline still remains huge. Finally broke through it, a retest of the trendline was going to happen and did. Only thing is, it broke back below the line. Signaling a potential "false break". Next couple days will be critical. Likely going to see some dip buying, but the strength of that will be key. Strong bounce, and close back above the trendline Today...

JTI96 Updated 

It''s actually amazing that analysts still pump this thing up. What are the most watched shows on Netflix? What shows are all leaving for their original creators new streaming services? Unless NFLX changes it's business model (goes to weekly new episodes, instead of all at once), I don't see how this wasn't just a giant bubble. Personally, I buy NFLX for a month...

JTI96 Updated 

The red trendline is huge resistance, and the purple is short term support/resistance. As long as the Adv/Decline line is making new highs with the market, there's no reason for me to believe the market won't continue up. Volumes terrible, but that's typical in the summer, market melted up three straight months on no volume last year. Most likely that we...

JTI96 Updated 

Who would miss out on a chance to laugh at a guy predicting a market top? So A few months back I said we would reach the little green box on the chart. We are all but at that point now, so now what? ---First off, I think the bull runs on if we break above the upper red trendline and hold above it for a week or two. --Secondly, market's just don't crash...

JTI96 Updated 

Welp, here we are again, we start with the good news to push the market higher, and then days before the g20 actually happens Kudlow..the President...Banks...they all throw out all the "worst case scenarios" to try and scare all market participants away before the meeting. This way, when the meeting does happen, everyone has the "worst possible scenario" in their...

JTI96 Updated 

This things been underperforming the market waiting to break down for awhile now. It popped off earnings, failed to make new highs. Looked like it was ready to break down in mid June, but Adobe came in with hot earnings and popped the cloud stocks. 148 has been a respected pivot. The lower side of the wedge and 200 day are all sitting in the same vicinity, and no...

JTI96 Updated 

Did a little research on half trading days. Ever since we've become more volatile back in the beginning of 2018, there has been three days that the market closed early. (Before the 4th, after Thanksgiving, and before Christmas. Half days obviously mean roughly "half" the volume. Algo's don't celebrate Holliday's....just looks like a down volume day. Here's what...

JTI96 Updated 

Earnings tonight for MU. $33 has been a huge support/resistance line for Micron over the years. With it failing to bounce on its last few tries since fading back down to $33, seeing lower highs on the most recent pop, and with an expected 76% decline in earnings this quarter...I'd be shocked if this thing popped after earnings. Best case scenario is gonna be,...

JTI96 Updated 

We gapped above it yesterday. We're hovering on it today. Whether tech can test the line and push higher or rejects it will be the difference in LONG TERM market direction Anytime a trendline is that well respected over years of market action, we can expect a big move, one way or the other when it holds/breaks. We tried breaking back above it back in April but...