Played both sides of this trade, but the main position was on the short side. Hedged the upside at key price levels to build cashflow, sized up along the way as I started seeing confirmation moves. This trade went perfectly, I read this market very well.
The time frame is the daily time frame for this trade. If the stock closes at the contested zone on the higher side, initiate the trade and close the trade at the stop if the daily price closes above $110. Sale zones are highlighted in yellow to close the trade going into resistance at key price levels. Can leave trailers on if the stock blows past the...
I spent most of yesterday and last night reviewing price levels of the S&P 500. Many economists and seasoned Wall Street veterans are saying that the S&P 500 has rallied "too hard, too fast" in relation to the economic recovery. My deeper price analysis is showing this narrative to be well supported by technical factors. A quick note, this analysis was done on...
SalesForce looks like an ideal short right now because of the ridiculous rally it made at the end of August. The stock rallied $80/share, which translates to a market cap increase larger than the entire NFL. Crazy, right? When you read the reason for the earning surprise below, it's even crazier. As Reported By Salesforce: "Second quarter GAAP diluted...
Every time buying volume has spiked over the last two weeks (flags), the channel has dropped lower more rapidly after. This goes to show you that you cannot fight against the trend in this market, which is DOWNWARDS right now. These little bull rallies for the last two weeks have been helping the bears, not the bulls. The more the bulls buy, the more potential...