jamespwu

jamespwu

NFLX held its major support area 96 to 97 after earnings and is now running into resistance. It was also the held the 50 day MVA. 110 - 115 will be the next resistance zone and also a good area for a quick fade. The stock also survived a 61.8% retracement on the fib, so its still relatively strong.

jamespwu

NFLX broke the uptrend.

jamespwu

Since the breakout failure from the end of 2015, AMZN broke down from its first support area of 640 and now is challenging its first major uptrend line on the weekly chart. The next level of support is the somewhere around 540 to 535, which is the 61.8% fib retracement and also the retrace from top of the extension (Please see the top green line). There should...

jamespwu

NFLX hit the 100 area this week. The stock needs to hold 100 for the uptrend to continue. The next immediate support area is around the mid 90s. As I mentioned before, the weekly RSI divergence is very noticeable.

jamespwu

Recently, TSLA broke its Weekly uptrend around 212ish. I was just reviewing the weekly chart and noticed the Neg Divergence in the Weekly RSI and the potential head and shoulders pattern on the stock. In the near term, the stock have room to about 180ish. If it does not reclaim the 215 to 220 range, the pattern can really go to the downside.

jamespwu

Please look at the text on the chart for the idea behind the trade.

jamespwu Updated 

Apple has violated its more bullish uptrend around 110 a few week ago. (not counting the flash crash in late Aug 2015). Now, its forming a weekly head and shoulders pattern with the neckline around 105. On Monday, the stock showed relative strength to the market and covered the down gap from the opening. It would be interesting to observe if there is a bigger...

jamespwu

Looking for a potential short in the XLY, as its main components AMZN, DIS, getting hit. AMZN showed a negative RSI divergence on the daily chart, the first time in a long long while. Probably won't initiate position until AMZN and DIS, NKE recovers a little.

jamespwu Updated 

BIIB, just had a slight breakout for the second day. The stock has a chance for a bigger move to the 310s - 320s area, if the measured move works out. This will be a longer term trade. You have to give it a few months. I am long the options to take the anxiety out of the trade. This is a 2 hour chart.

jamespwu Updated 

IYT, the transportation ETF, is forming a H&S pattern. If the pattern fulfills its measured move of 20+ some points, we can see a big down move in the market. I am long the Mar 2016 137 puts. This is a weekly chart; so if the pattern carries more weight than the short term charts. The only downside as now is that it's somewhat oversold on a daily basis.

jamespwu

Watch TLT. Like IYT failing. It has important implications.

jamespwu

Apple, has fallen off as the tech leader this year. This morning, I discovered a head and shoulders pattern for the stock on the daily chart. Currently, the neckline is around 113 - 114 area. If the pattern is fulfilled, we could get a trade down to the low 100's. The trade will be negated if the stock gets back above 115. The green line is the neck line for...

jamespwu Updated 

The trade is explained on the text in the chart. It also points out a bigger consolidation range of Apple with a formation of a bigger wedge pattern. This is a hourly chart.

jamespwu

NFLX is showing NEG RSI divergence on the weekly chart. Please look at the red down arrows on the chart. It also showed a breakout failure. The next important support level is around 110, top of the wedge breakout. The short trade is not for everyone.

jamespwu

I just want to identify that FB is setting up for nice trade based on a month long wedge pattern. You can go either long or short depending on the break. This is a hourly chart. The measured move will be approximately the height of the wedge. Good luck.

jamespwu

TLT is reaching a critical resistance at both the 200 MVA and the uptrend resistance. It will make a good 2 way trade both on the long and short side.

jamespwu

For the past 2 weeks Apple has been consolidating forming wedge pattern that can be traded either to the up or down side. The measured move will be approx. the height of the wedge. The continuation pattern favors the current trend, but a breakdown could lead to a fast move to fill the gap at around 114.

jamespwu

NFLX showed negative divergence. Its based on higher price and lower RSI. Stock has also broke its recent short term uptrend line. Long 650 puts.