TomDaSpankEngine

TomDaSpankEngine

Snapchat looks like it will be in a corrective phase for the next year. It may be worth a swing trade at $20, where the longterm support trend line lies, but longterm it should test the $13 range which coincides with an open gap and the .786 retracement of this larger degree 3rd wave.

TomDaSpankEngine

A detailed explanation as to why I believe AMD stock will double or triple in the next 12 months. See my other posts for my Elliot wave count.

TomDaSpankEngine

Hello traders, it looks like AMD is finishing up its W-2 within a larger degree W-3. We see that price is approaching the .786 fibonacci retracement, and we have a positive MACD divergence. This is a great opportunity too add to your long positions. Soon we will be in W-3 of W-3, so that will be a very powerful move to the upside. Good luck traders :)

TomDaSpankEngine

Hello traders, here is my analysis for the SPY. Looks like a WXY correction to me. There is a gap that needs to be filled at SPY 400, and I believe that we will do this. Also, at that point W=Y, so it will be a beautiful symmetrical correction. Good luck traders.

TomDaSpankEngine

I would not want to be owning Shopify stock this year. I think we strike one more low to the .5 retracement and then bounce up to about $1000 for a B-Wave, before a final C-Wave down to the $210-$330 region. It will be a painful year for Shopify owners I believe. The move down so far does not resemble ABC structure. Also, it needs to be longer in terms of time. Good luck.

TomDaSpankEngine

Hey friends, here is my longterm view of the AMD chart. On the smaller scale, I think it should bottom in the $80-$90 region and then begin the next leg up to $300+. I would be selling at 300 with the hope of purchasing back at the 150 level for the final leg up to 500+ before AMD enters a prolonged bear market where price can reach the same level it is today.

TomDaSpankEngine

Hello Friends, here is a fresh AMD update. Unfortunately, the outlook is not good right now. For me, I am expecting a final move down to the $86-$92 region before we resume the uptrend. I think the sweet spot will be $88, because this will be the .236 retracement. AMD is very volatile, so large swings like this should not be surprise. For now, I will wait for my...

TomDaSpankEngine

Hello friends, here is a fresh NVDA update. The structure has become quite clear. NVDA should be heading to the 190-210 region. I find it most probable that it will bottom at 200, because that is where the .5 fib retracement lies from this larger degree move. After this, it should move towards 400+ through the rest of the year. Good luck traders :)

TomDaSpankEngine

The structure for NVDA is becoming more clear. It looks like we have one final low to make to about the 230 region to fill the gap. At that juncture, I will "back up the truck". Very bullish setup moving forward.

TomDaSpankEngine

Hey all, I wanted to give a quick AMD update this morning. After today's price action, the structure of AMD's decline has become more clear. I believe we have 1 leg down to go which should bring us to the 106 region and fill the gap that was left behind. This will be good for AMD longterm, as it is not a a good thing to leave open gaps behind in the chart. I will...

TomDaSpankEngine

AMD underwent the C-Wave drop that we warned about in our update a few days ago. C-Waves are generally the fastest moving and harshest waves, so it is no surprise that AMD fell about 15% in just 2 days. The speed and depth of the move even exceeded our expectation. In fact, this move was so steep that it difficult to come up with a clear 5 wave pattern down. It...

TomDaSpankEngine

Fubo is in the midst of a powerful downtrend. It is already down more than 70% in the last few months, and my count leads me to believe that shares will lose another 50% of value before this sell-off concludes. If you hold a long position currently, you should strongly consider selling.

TomDaSpankEngine

NVDA made a nice 5-wave move off the low, but now it is time to take a rest and digest some of the gains. We may still get one more small push up to the 270 level, but it is not worth chasing right now. The price target for this swing trade is 400+, which would translate to a 60-70% return by the end of the year.

TomDaSpankEngine

AMD gave us a clear 5-wave impulsive move off the lows, what happens next is very important. This could be an A-B-C with a final low yet to be struck, but the probability of that has decreased dramatically in my opinion. Right now we are topping in the B-wave. Expect the C-Wave to bring us to the 117-110 level. I will be initiating a long position at 117. Price...

TomDaSpankEngine

SPY appears to be in an ending diagonal, like many other stocks, including AMD. I expect this to resolve with a double-bottom or a slightly lower low by February 18. After that, SPY will be set to set new ATHs.

TomDaSpankEngine

Looks like Bitcoin is breaking down out of this bear flag. Negative divergence in momentum. Expecting a bottom in the 29,000-31,000 region before we resume the broader uptrend towards 100,000

TomDaSpankEngine

AMD had a strong 4th wave bounce after it's stellar earnings report. However, the stock turned downwards at a key resistance level. It appears that AMD is forming an expanding diagonal as the C-Wave of this A-B-C pullback. My ideal target is the 2.0 extension, which is $90, before we resume the broader uptrend.

TomDaSpankEngine

Elliot wave count for Fubo using a weekly chart. Expecting new ATHs before the year ends. Price just broke out of massive inverse H&S pattern. Expecting a steep rip to 50-60 between now and Nov 10 (post earnings). Should ultimately reach about 240 in the next 1-2 years.