jamespwu

jamespwu

We will see if SPY can get above the 187.5 neckline resistance. I believe this is an important level in the short term. 2 things that are positive for the market are: we did not make a lower low for now, and the RSI has actually improved each time we approached the 181-182 level. If this is a bear market, the decline is far from being over. IF the SPY head and...

jamespwu

GLD, finally broke out. I guess its not so boring after all. It should cover some of the gap to about 114 - 116, Short term its very overbought. The measured move on the channel is about 16 points, so that will will put us at the low 130s range, if the trade is fulfilled on the breakout.

jamespwu

I like FSLR as a stock, but it has not been acting well after SCTY's earnings. Today, it finally broke its uptrend. Right now the stock is extended. I am looking for a short if the stock bounces back to the trend break line

jamespwu

GLD, performed well in the past 4 to 5 sessions. Not only it did not fill the gap below 113. It made a quick move from after market to this morning's pre-market. It's a 2 plus dollar move. As of now pre-market its at top of the down channel, possibly surpassing it a little at 116.5. A breakout will be confirmed around 116 to 116.5. I may attempt a fade at...

jamespwu

the qqq just broke 100 this morning after the jobs number, now its in real danger zone. The measured move is 85, That's hard to swallow when all big techs are getting slammed already. But I dont think its over only down 14% for the year.

jamespwu

Goog broke the rising channel, should come in a little more, but very oversold in the short term

jamespwu

break of 100 on the qqq was important should test the lows within the coming week

jamespwu

I was excited from the recent bounce in GLD thinking there could be a real trending type of trade. What I did find is a downward moving channel. Not very exciting. It needs to break 114 on the upside for a real long trade or a break below 98 for a short. But so far not much, but a consistent range pattern.

jamespwu

Apple is now in a consolidation zone between 91 and 98. If it breaks 91, then the completion of the head and shoulders pattern could be in play. Unfortunately, there is not a lot of meat left on the bone. Target is around 80

jamespwu

IBB held its long term support around 250 yesterday. I reviewed the weekly chart again found 3 signs that the intermediate bottom for IBB may be in place. 1) Weekly RSI is almost at the bottom. 2) the ETF held the 250 area, which is long term support going back to 2011. 3) Its at the bottom of a weekly bollinger band set at 2.5 SD. I was long the stock...

jamespwu

TSLA has broken 2 of its major support levels at around 212 indicated by the red line and 180 indicated by the blue line. As of now, the stock is very extended to the downside, according to bollinger bands which mine is set at 2.5 Deviation. It needs first reclaim the 180 and then possibly 200. That is where I would look to re-enter a short trade. If the...

jamespwu

3 days after earnings, AMZN confirms the break of its first major uptrend. In the near term, there is some support in the last consolidation zone between 550 and 500

jamespwu Updated 

After a quick bottom, SPY bounced back and broke the downtrend around 186 187 area and has been consolidating for about a little more than a week from in a 4 point range. This is indicated by the red rectangle (187 to 191). The range finally broke out and resolved to the upside with the first target of 194.5. Good long trading day, if you sat through the gap...

jamespwu

amzn, bounced off the long term support line and is holding so far. Lets see how it resolves in the coming days.

jamespwu

Unlike the other FANG stocks, NFLX is still below the uptrend line of 104 to 105. It is also trading below the neck line of 105, It was relatively weak on the close Friday. The only positive is that it did not close at a new low below 100. The stock is now trading around the 61.8% of the FIB retracement. I am short with options below 105.

jamespwu

APPL, probably was the strongest large cap tech stock on Friday. It reclaimed above the short term down trend as indicated by the two blue downtrend lines and is now slightly above the second downtrend line. It s still well below the 1 05 neck line of the head and shoulders pattern, which it can get to before or after earnings. It will be important to observe...

jamespwu

AMZN, snapped back above the long term trend line and is now at the top of the down price channel. 600 area is its first resistance area. Let's see how the stock will react from here. The stock closed near the Friday's high around 600, so it does show some relative strength.

jamespwu

nflx failed after earnings. It looks like the stock has a head and shoulders pattern as indicated by the red line. Neck line is around 106, if fulfilled, we can see the mid 80s on this one. Good luck, long put options after earnings.