ap769

ap769 Updated 

Hi everyone - I wanted to make a quick post with my thoughts on the next moves for AMEX:SPY using Elliott Wave Theory and Fibonacci Price/Time levels. I’m on my phone so I apologize if the chart screenshot looks cluttered. AMEX:SPY is currently in a Primary W5 that should conclude in August. Yesterday we saw a spike after CPI came in cooler than expected,...

ap769

Hello everyone - I do not trade or speculate on oil, although I do look at the price from time to time. With oil being a commodity that has moved sideways for the past 25 years, it may seem pointless to try to apply wave theory towards it. After charting the cycle, I noticed that the waves have unfolded in patterns that can be defined by the wave theory while...

ap769 Updated 

Well, not exactly. Things are not looking good for Bitcoin in the near-term, but there are still plenty of reasons to be optimistic. I do not trade CRYPTOCAP:BTC but like to keep up with its price and test my strategies with it. I’m making this post to see how accurate my predictions are in a few months, and will use it to influence future trading plans. Since I...

ap769

Not going to go into this too deeply but as you can see, we made a higher high on Friday and are currently hitting resistance at the upper extremity of the zig zag channel. Price has also been consolidating in a riding wedge pattern, which could mean we could soon see a move to the downside. It also appears that the inverse is happening with TVC:DXY where the...

ap769

My plan is to buy NYSE:MCD puts on Monday before earnings. This idea is based purely on technical analysis, which I think sufficiently supports the theory that the price will go lower in the short term. However, in the broader scope, this drop could produce a great buying opportunity for those looking to go long. The weekly chart shows last week’s solid green...

ap769 Updated 

IWM is currently in a strong accumulation area based on the volume profile delta. The indexes were a bit oversold after yesterday's CPI report and FOMC minutes, leading to a bounce in the afternoon. I am skeptical as to whether today's PPI report and fed speakers will have the same effect so I closed my puts. Here is my reasoning: VIX keeps rejecting above...

ap769

NASDAQ:AMD is currently forming a H&S pattern on the weekly chart. I think the price will continue to chop in the right shoulder range until earnings, at which point the price will begin its decent to the lower extremity of the weekly Zig Zag Channel ($140 range). In the meantime, I am watching the Value Area H&L levels shown on the Anchored Volume Delta...

ap769

From my previous post on CVNA, you can see that I have an overall bearish outlook on the stock due to a dubious earnings report last week and a share offering that could add 35m shares to the float. I have been watching the 2hr chart closely, which shows that we could be in for a large drop soon followed by a downtrend. This is best illustrated by looking at...

ap769 Updated 

Shorted CVNA when it broke support at $50 after a huge leg up on Wednesday. Looking ahead to Friday, VWMA and MACD on 15m chart could flip positive during early trading - pushing price up along the edge of the cloud - before hitting heavy resistance around $48.30. If the price follows the dotted arrow pattern, it may drop significantly before close or after hours....

ap769

RSI looking strong on the 4hr chart. Setting up for possible breakout. Open order for July 21st calls.