Tech_Trader88

Tech_Trader88 Mar 26

The market tested the 20-day EMA and the January 13 low in the last 2 trading days. In our last report, we said the buying pressure is stronger than the selling pressure (bear bars with no follow-through selling) and the odds slightly favor the market to still be in the sideways to up pullback phase. The bulls want the market to form a 2 legged sideways to...

Tech_Trader88 Mar 24

Last Friday's candlestick closed as a bull bar near its high. The market opened lower but lacked follow-through selling and traded sideways to up for the rest of the day. In our last report, we said that traders would see if the bears could create a strong bear bar, or if the market would open lower but lack follow-through selling, like Thursday. The bulls...

Tech_Trader88 Mar 21

Yesterday's candlestick closed as a bull bar in its lower half with a long tail above. In yesterday's report, we said traders would see if the bulls could create a strong retest of yesterday's (Mar 19) high followed by a breakout above. Or if the retest would lack follow-through buying, stalling around or slightly above yesterday's high area. The market...

Tech_Trader88 Mar 20

INTC remains in a 158-day trading range (yellow box). Attempt to breakout above the trading range on 18-Feb lacked follow-through buying and failed. The recent strong move up to the March 18 high looks like a Buy Vacuum and bull leg within a trading range. To see the definition of a Buy Vacuum, see the comment section on the tagged related post on the 20 Mar...

Tech_Trader88 Mar 20

Previously, we said that traders would see if the bulls could create a strong retest of Mar 17 high followed by a breakout above, if the retest lacks follow-through buying, stalling around or below (Mar 17) high area? The market retested the Mar 17 high yesterday, closing above the middle of its range and closed as a bull bar with a long tail above. ...

Tech_Trader88 Mar 18

Yesterday closed as a bull bar in its upper half with a long tail above. We said that the parabolic wedge (3 pushes - 28 Feb, 7 Mar, and 13 Mar). That increases the odds of a minor pullback. The pullback is currently underway. The bulls want the market to form a 2 legged sideways to up pullback. They need to create credible buying pressure - consecutive...

Tech_Trader88 Mar 17

The weekly candlestick closed in its upper half with a long tail below. The market formed a parabolic wedge (3 pushes - 28 Feb, 7 Mar, and 13 Mar). That increases the odds of a minor pullback. The bulls want the market to form a 2 legged sideways to up pullback. They need to create credible buying pressure - consecutive bull bars closing near their...

Tech_Trader88 Mar 14

The bears got a tight bear channel down which means persistent selling. The current leg down is in the form of a 9-bar bear microchannel. There could be sellers above the first pullback. The selling pressure has been stronger (big bear bars, consecutive bear bars) as compared with the weaker buying pressure (bull bars with no follow-through buying). The...

Tech_Trader88 Mar 10

The market will open lower today. - The bulls see this as a retest of the March 7 low. - They want a higher low followed but a higher low major trend reversal. - If the market breaks lower, they want a failed breakout followed by a reversal to close the day with a long tail or a bull body. - The bears want a continuation lower. - They need to create...

Tech_Trader88 Mar 7

• The daily candlestick was a bear bar with a prominent tail below, closing above the March 4 low. • The market gap lower at the open and formed a pullback (bounce) in the first two hours. The market then reversed lower to retest the March 4 low and broke below it. The breakout lacked follow-through selling and stalled around the March 4 low area. • The bulls...

Tech_Trader88 Mar 6

The report below uses the Spy chart which is the Normal Trading House. • The market traded lower earlier to retest the March 4 low but formed a higher low. The market then reversed higher into the close, closing the daily candlestick as a bull inside bar closing in its upper half. • The bulls see the market trading in a broad bull channel and want the move to...

Tech_Trader88 Mar 5

Undervalued stock, Fair value around $30 Good chart pattern, needs follow-through buying

Tech_Trader88 Mar 5

This stock has a strong chart pattern. Undervalued.. Fair value around $180

Tech_Trader88 Mar 5

DB also look strong on the chart. Undervalued with fair value at around $40+

Tech_Trader88 Mar 5

The bulls need follow-through buying. Fair value for the stock is around $22

Tech_Trader88 Mar 5

BABA also looks strong with the recent pullback being small which indicates strong bulls. If there is a good entry tomorrow and the broader market holds sideways to up, this could be a good candidate for a long trade.

Tech_Trader88 Mar 5

If the broader market holds, JD has a good chance for another leg higher from here.

Tech_Trader88 Mar 5

• The market traded lower earlier in the day. The market then reversed higher for most of the day around noon time. The SPX then pulled back off its high in the final 30 minutes of the day. • The bulls see the market trading in a broad bull channel and want the move to continue for months. They want an endless pullback bull trend. • They want a retest of the...