Ive been talking about AMD since early December around 135
We can see here, what looks to be an inverse HEAD and SHOULDERS!
Today we saw the valid breakout of this price action and i anticipate it to continue to $161.82. This is a resistance level AND a gap fill level. From there, i anticipate a minor market correction. SPY has been looking a tad bit weak,...
Very simple gaps back up to 9.3 and then 19.75. For how cheap this is- no reason not to put a little side cash in it. I assume itll be some kind of news pop that would send this up
Although i dont really like the industry Macy is in- price action and charts do not lie. Again, you can see a nice trend line. We are currently at a nice support with a lot of buying pressure down here. Combine that with the gaps up (91% of gaps always get filled, and we have TWO!)
I believe this is a great time to buy some kind of long position with a target...
I will keep this shorter term. WE can already see this starting to curl over a little. There is a short term support at 174.00. If this gets taken out (which i have been feeling a tad bearish with the market recently) this will easily see 168.11. Pretty strongly too actually..
This is a support level, but not a really strong one. Once taken out, you should see...
Im not sure how this has been overlooked by so many, But there is a very valid Head and Shoulders on this bad boy. We can see the initial dip to test gan fan support (which i had charted for idk how many months now (goes to show the power of Fibonacci))
I will admit, this price action is very odd. But seeing we did breakout and we have gaps down, I would NOT feel...
Short term- should continue down to about 943.14. I assume we will bounce for another test of the upper trend line at 1006
However, this is preparing for a large move up or down (approximately $200 move)
If we breakout to the top side- we will see $1250
If we breakout to the down side- we will see around $722
As the title suggests, a nice bull flag forming on SPY. I am generally skeptical with pennants, as they generally like to invalidate and inverse their breakouts. None the less- we will get a $2.75 move on SPY between today and tomorrow.
Simple TA of an Ascending wedge (originally charted the symmetrical triangle further up top. Breakout to the down side would test the first white horizontal trendline support. If trendline support is broken, next supports are our Gap Fills and standard price supports
As the title suggests, we have a channel breakout. We can see clearly, where we broke out of and the run we have seen the last 2 weeks is the retest of the trendline breakout. This week is a major deal because we will either reject and begin the full breakout down (with a target of $400 for SPY) Or we will re-enter the channel and there will be a lot of buying...
As you all saw in my previous posts, we were in a smaller time frame descending channel along with a descending wedge (charted with red trendlines) after we got the breakout we were looking for, we validated a LARGER time frame ASCENDING channel. Sure enough, the rejection we saw overnight validated the top and i have the bottoms charted. I do anticipate a small...
This chart shows the trend line resistance we have rejected off of since the beginning of the down trend. We could see a hard rejection at the open, or the beginning of a breakout and new trend. Trade with caution and do NOT force a trade!
There is the descending wedge I discussed in yesterdays write up. And target played out nicely! If you followed this, you...
Simple Descending wedge (in red trendlines) breakout is the white vertical trendline towards the apex of the wedge. Would retest perfectly the trendline resistance towards the top of the chart (price target of 4392 on ES)
Looks bullish if EMAs can cross over each other
We are currently seeing price action that is breaking the 200 EMA on the one hour I am watching for the 9 EMA to cross OVER the 50 EMA and then the 200 EMA. Both of these cross overs will indicate a nice push in the price to the upside. Watch for it closely today!
