Steversteves

Steversteves Updated 

Hey everyone, Posting late. Xmas is a big thing for my close family and friends so it kind of consumed my time this weekend. Plus, being the one with the biggest house I always have to host everybody :-/. Anyway, hope you all had a great Christmas / Holiday and what not and are ready for the end-of-year shenanigans! So the levels and thresholds are in the...

12:40

Steversteves

Per request, someone asked to share my strategy and how / why I enter/exit trades. I decided to be specific and applicable to the current market sentiment and discuss how I trade “choppy markets”. My personal rules for trading choppy markets are: 1) No options, shares only 2) GTFI and GTFO ASAP 3) Only trade when there is a support or resistance respected...

Steversteves Updated 

In truth, I haven't traded SPY or ES1! for some weeks and haven't been tracking it too, too closely anymore. But here are the levels for next week. Based on the chart (heikin ashi), upside is the expectation; though, I do foresee it being painful at first, and then probably out of nowhere just going for some highs. Becuase you know, its over extended. We should...

09:29

Steversteves

Discussion on using the volume to identify a potential top and retracement level for SPY. My thoughts, not advice! Safe trades everyone!

Steversteves Updated 

AAPL is actually a short next week, imo, at least for pullback. It was pretty transparent on Friday, not participating in the rally and struggling to maintain the bullish condition. That said, I don't think it will spend the whole week bearish, but I do think we may snag those low targets at some point this upcoming week. If we look at the Heikin Ashi chart we...

Steversteves Updated 

RIVN levels in the chart. Personally bullish following the breakout but a re-test is possible: About 35% of accumulation rests just over 2 SDs (24.17) since the start of the pennant formation: And the volume accumulation also rests to the upside: Bullish overall, watch the conditions though as always. Expect a bit of resistance at 24.17.

Steversteves Updated 

Boeing has just been a beast, straight up. Short interest uptick last week but they got destroyed, as most shorts do in this day and age haha. I see its kind of tapered off a bit. Perhaps next week we can actually see pullback. There isn't a lot of volume up here: So we could actually see a move back to 252 range as pullback and then continue up. That...

Steversteves Updated 

I am bullish on Oil generally, but I am expecting more of a range-bound week with energy next week. It is in a neutral range, with more accumulation resting towards 89: So we will likely end up drifting towards this target range. Overall, generally neutral on energy itself, but I do expect a drift up, especially if the market maintains the bullish bias....

Steversteves Updated 

NVDA is looking like it wants to go a tad higher, based on the chart alone. Though I am not confident it's going to go for the high targets. If you are going to trade it, I would def take profits when you're up on this one because, while overall the momentum is bullish, its not very convincing. That said, this will probably make an attempt at re-testing ATHs...

Steversteves

Looking at QCOM is very important because it has just been straight up. Semi's such as NVDA, AMD and QCOM are what is propping tech. While SPY had a bearish day on Friday, the continued upside pressure from QCOM, AMD and NVDA salvaged QQQ and its important to pay attention to the strong performers right now if you are an NQ1! or QQQ trader (just generally a...

Steversteves Updated 

As we approach the end of the year, just to sort my own thoughts out, let's get through where we are now, what is left on the table and hopefully this can provide some insights into what to expect leading into the end of December. Many moons ago I posted "Has SPY Topped" with the premise being, no... You can see that post here. The reason was the various...

Steversteves Updated 

Levels for AAPL for next week. The probability of momentum is bullish with 66% success. On Standard Deviation, it is bearish with 59% success. Pretty on par with what we are seeing across most stocks, signaling some selling and buying. We sometimes see a fear sell leading into FOMC and then, you know, the moves that come after. As always, let the PA doing...

Steversteves Updated 

Bullish /Bearish conditions in the chart. Tough one next week with the fundamentals, though for actual equities FOMC rate decisions and CPI don't have the same effect on individual tickers as it does on the indices. The reaction generally is more tame and may only derail a ticker momentarily or serve as a catalyst to bring it to where it wants to go. In terms of...

Steversteves Updated 

Levels in the chart. Probability based on Standard Deviation is bearish with a 56% success rate. Momentum couldn't find similar setups but we can check ATREE : Bullish, surprise, surprise haha. Accumulation rests to the upside here and if we continue this early santa rally charade then I suspect it's going to continue to be a long. As always, watch the...

Steversteves Updated 

Making an attempt at crypto models. They are extremely hard because of their erratic style and short trading history. Was able to successfully come up with one for BTC, Solana and ADA. I regret not trying this sooner as we are approaching the first high range on the month. These are the monthly targets of December. As you can see we are approaching the first...

Steversteves Updated 

And last idea I will do is QQQ, unless otherwise requested to do something else. Think I will ignore SPY this week. Levels for QQQ are in the chart. I usually check for price accumulation over the previous 500, 30 minute candles, but QQQ and the indices were kind of rangy last week so had to expand to 1,500 candle lookback. Momentum probs are actually bearish...

Steversteves Updated 

Target box in the chart. If I am wrong, we will end up in the red box below. Safe trades, no advice!

Steversteves Updated 

And finally, AMZN! Price targets in the chart. Unlikely to move to The third high target or third low target this week. Likely will see a continuation of consolidation and perhaps a move to PH1 and/or PL2. Wait for a break of one of the conditions and hold. Safe trades!