Madrid

Madrid Wizard

$UVXY This market is shaky. I am taking profits here since I expected just a small corrective leg (warning shot). The market overall looks like an exhausted bull, yes it does. And I will wait for this Monday to see if the overall market rethinks the position during the weekend and tries to take it slow or if an overreaction drags it down, in which case the...

Madrid Wizard

$MU target hit. Taking profits and waiting for the market opening this Monday.

Madrid Wizard

$FB The short leg worked so I am taking profits and moving to a wait pattern. This market looks shaky so be careful out there.

Madrid Wizard

$AMZN The leg worked as expected. I'm Taking profits and now I am expecting a proportional short squeeze. Let's see how it behaves next week.

Madrid Wizard

$AMD The leg worked as expected. I'm Taking profits and now I am expecting a proportional short squeeze. Let's see how it behaves next week.

Madrid Wizard

$APPL remained in track with the original short forecast. The indicators were already showing a weakening momentum and a strong resistance. The conditions in the overall market signal a profit taking, that could end up in a correction. This ER seems to have the intention to create not new stock holders, but bag holders. Good luck and trade safely.

Madrid Wizard

$SPY $SPX $DIA $UVXY Two factors influenced the market this week, the fed interest rate cut, and the new "Global factor" criteria used that makes me question if the inflation, jobs and other economy bounded related parameters used by Janet Yellen aren't supposed to be the metrics that the Fed uses to determine the interest rates, and not the pressures of the...

Madrid Wizard

Trade wars are not good, trade wars are not easy to win. The market has shown us that it is always right, both $AA and $X wiped off billions in market cap since these trade wars started. The market is telling us loud and clear, Stop it!. Trying to manipulate the market creates artificial overextended conditions that sooner rather than later snap back. Let the...

Madrid Wizard

There are two defined regions here, the Resistance area in the 44's level and the support in the 30's level. The momentum is convergent with the trend which gives TWTR the possibility to make a run until it reaches the upper channel resistance area, which is around the same level as the Price resistance area. It has the momentum and the impulse it gained from...

Madrid Wizard

“.... Trade wars are easy to win...” they said. The outcome for $X has been a wipe off of $5B in market cap, marginally breaking even with its previous low levels from 2016 since the so called “trump’s rally”. Currently $X comes from a strong downtrend from its previous high levels around $48 and slamming at its current support in the $15’s. It hit support...

Madrid Wizard

The technical levels show a negative momentum divergence, which usually flags a bearish reversal of the trend. At this point $AMD is making a double top with the previous ATH, and unless it gains traction enough it will tray to break it, the volume is weakening and so the momentum, so this doesn't seem to be the likely scenario. The indexes in general and the...

Madrid Wizard

The technicals for $AAPL heading into earnings show the price level is approaching a resistance area, there are shrinking bands which flag a strong move waiting for a triggering event, negative momentum divergence, negative volume divergence, and Support at 170. It makes sense it will try another big shake of the tree to try to gather "cheap" shares and go for...

Madrid Wizard

$SPY $DIA $UVXY This has been an awesome Santa Claus Rally, it took the index to a record highs after the nightmare before Xmas. What's next? Since there are no straight lines in Wall St. a correction to retest support at the 2,700 levels is just about right. Right at this point in time it is bullish, extreme bullish conditions from the price point of view, but...

Madrid Wizard

$MU had a good run, but it is reaching a major Resistance level at 48, It matches the upper channel resistance level, plus other technical levels like overextended overbought level, waning bullish imbalance, profit taking area, this can reduce the likelihood this will try to breach the 48 level. It makes more sense to try to retreat, shake the tree and try a...

Madrid Wizard

$FSLR has had a very good run since Santa Claus visited the Stock market last Xmas. The question here is Will it have the strength to go for the previous all time high levels it had in the past? In Wall St there are no straight lines. It is bullish, but in order for it to break the previous week levels it needs more momentum, which is already declining and...

Madrid Wizard

$AMZN hasn't stopped amazing the market. The secular trend is still intact, however I see some technical levels that made me question if this still has enough power to reach an ATH. It is at a Double Top at the $2,000 level, Negative Momentum Divergence in the Weekly time frame and lower volume in the same time frame. I am not surprised to see how euphoric the...

Madrid Wizard

$FB is showing signs of weakness, the bull leg is Overextended, the indicators already show a Momentum Divergence and Failed to close above yesterday's High of the Day. Initial Bearish Target : $185.

Madrid Wizard

$BTC.X $ETH.X It was the end of October 2017 when the Bitcoin market became crazy, euphoria and the stories of Lambos and overnight self made millionaires flooded the forums and news outlets. Nobody can predict the future, if someone says so, that someone is just in the best case scenario "guestimating" it. However we all can see the behavior of a market and...