Tesla recently broke out of an ascending triangle formation an is likely on its way to test the $400 all time highs as it prepares for the robot taxi market and Tesla robots.
Tesla found support at 655.55 and made a double bottom jeans with the furrrr rebound. It broke above the multi-month downtrend and is now testing the 700 resistance level. I’d say there’s about a 65% chance it will break higher back into the long term uptrend. Special thanks to Michael Blurry eyes who doesn’t believe in technicals and trashed the stock. Now it’s...
The 10 Year Treasury yields have bounced aggressively from all time lows. However, we are not at the August/September 2020 lows which coincides magically (lookup the gold number found everywhere in the Cosmos) with the 38.2% fibo retracement from the highs to the lows. If rates go sideways or correct from here, we're likely going to see a bounce in the Nasdaq...
Bitcoin reached multiple key resistance levels: - Channel resistance line through the highs (Jun-2016 to Now) - 23.6% Fibo extension from Nov-2013 to Jan-2015 - 3.618 Fibo circle extension from Jan-2017 low to Mar-2017 high Bitcoin is likely to correct short term and could test the 1250 level...
It seems like oil found the 61.8% fibo retracement resistance near 51.86 a few minutes before the inventory report at 10:30 am which showed a slight buildup in inventories. A break below the 50.75 support level would probably drive oil down to its more significant $50 support level if downside momentum continues.
Target: 215 Tesla started to retrace down from the descending multi-year resistance. I expect a drop to the next strong support level around 215. Unfortunately a company with a large CAPEX like Tesla might underperform in a bear market. My very long term view is a buy. But for now, I'd want a fairer valuation before I buy.
As this new crisis unfolds and the current Keynesian based Economy collapses, Central banks will be forced to lower rates. A raise in Rates from the Fed would trigger massive deleveraging worldwide. Silver's relative performance tell us that it will likely outperform Gold.
violent reversal in the Shanghai Index. This could be the beginning of a bigger crisis...
While it doesn't look like gold is going anywhere lately, its priced is being pushed down by a rising dollar. Despite a strong dollar, gold has been moving sideways for a year. Global QE is reaching ridiculous levels and rates AREN'T RISING. Here is a view of the dollar neutral Gold and the relative performance of Gold priced in euros relative to the Euro currency.
Tyco is a weak stock in an underperforming industry. Short at the upper downtrend channel with an initial target at 40 by Feb
Multi year uptrend support and recent consolidation above the 20 weekly MA suggests a brake above 127.25 is likely. Target: 130.29
Retailing has been slightly outperforming the S&P since June. Target could have a nice short term rebound as the S&P rebounds in the short term. Conservative initial target: 38.2% fibo at 61
The heavy Euro sell-off that followed the drastic measure by Mario Draghi to lower the euro is starting to cool off. Euro is finally finding some support along the multi-year uptrend. The dollar rallied heavily and commodities took a huge hit this Fall. However, the technical bounce in the Euro could provide support to Gold as the dollar weakens. Additionally,...
The heavy Euro sell-off that followed the drastic measure by Mario Draghi to lower the euro is starting to cool off. Euro is finally finding some support along the multi-year uptrend. The dollar rallied heavily and commodities took a huge hit this Fall. However, the technical bounce in the Euro could provide support to Gold as the dollar weakens. Additionally,...
The heavy Euro sell-off that followed the drastic measure by Mario Draghi to lower the euro is starting to cool off. Euro is finally bottoming and finding some support at the multi-year uptrend support. The dollar rallied heavily and commodities took a huge hit this Fall. However, the technical bounce in the Euro could provide support to Gold as the dollar...
Twitter in on a clear uptrend. The recent rebound in equities suggests that this outperforming stock could break high along its uptrend all the way to the next significant resistance of 57.50 (61.8% fibo retracement). A break of the uptrend would be a signal to close the long position. A call option would gain value of Vega and Delta as volatility increases and...
The Healthcare Providers industry is one of the top performing industries in the strongest Sector in the S&P500, Healthcare. McKesson Corp is in a clear uptrend and has been gaining momentum as the relative performance chart indicates it has been ourperfoming the S&P more and more. The recent Bollinger Squeeze on the Weekly chart suggests there could be a...
Metals & Mining have been underperforming the S&P since August as commodity markets sold off. Alcoa has now entered a downtrend after reaching a double top at 2011 highs near 17 a share. The Bearish divergence between price and MACD also suggests more downside in the new confirmed downtrend. Initial target: 38.2% Fibo retracement at $14 a share