myceliium

myceliium

Several tickers have bounced significantly but my eye are out for shorts - SPOT looks like. a possible candidate. Price jumped to resistance but failed to break. Could make another attempt depending on earnings but considering the broader market conditions, its likely that investors will be reducing exposure - since resistance isn't broken there may be a follow up...

myceliium

NFLX may be double Topping at this point after breaking slightly past it to previous high. The significant run up does not seem to be tied to the companies earnings report, which was a few days ago but it is possible that this is a delayed reaction to what were decent earnings. That said, there’s likely going to be a retrace after this strong of a move. It’s a...

myceliium

After the steep selloff for UNH, it has seen a significant bounce to the previous resistance level - this was aided by the fact that UNH because a popular tarriff counter trade, with money pouring in to what has been considered a safe haven in times of trade war turbulence. There space to run some more but its likely that UNH will run out of steam soon and retest...

myceliium

Looking at the previous sell-off patterns, theres a strong possibility that if the downtrend continues, SPY will head to low 500's by mid-May before rebounding in the summer to retest current levels (540-560) before completing the final leg (or first) of a correction to the high mid-high 400 price level - or potentially low 400s in September. Its been a while...

myceliium

Its very possible that AVGO will be heading back to the 400 levels after rallying up to the resistance levels in the ~520s. Semis have had a strong run and the bounce on AVGO has been fairly significant without any convincing establishment of support levels on the way up. With this and the upcoming economic catalysts, its likely that a significant retrace is on...

myceliium Updated 

It's shorting season again and I've got my eyes set on this white whale. There's the potential for this to turn out to be a 4th wave completion but considering the multiple tops and market-wide weakness, its more likely to be a B wave of a larger ABC correction. Oscillators on the chart seem to support a retest of previous lows. Let's hope my analysis isn't being...

myceliium

Looking at the bearish divergence and fib retracements, CMG appears to have completed a fairly strong corrective wave after an initial sell-off form ATH. This suggest a C wave is inbound, either flat or a strong impusle leg down. Upside limited considering that the consumer behavior that led to strength supporting the current levels is likely to shift again in the...

myceliium

UNH has been an outstanding play for the number of years without any real signs of weakness. Despite being a darling of many portfolios, market-wide conditions will create conditions that will lead to profit-taking or portfolio reallocations when buying opportunities arise. The impact may be minimal but should lead UNH lower.

myceliium

Quick chart on S&P using Gann box/angles - been finding these to be a great asset when charting potential support and resistance zone. Chart on the left focuses on the next 6 months while the one on the right is for painting a picture of the larger correction that may be at play compared to previous significant correction. Sitting below the 200MA on the daily,...

myceliium

AAPL may be getting ready for another leg down. Looking to 165/163 area before years end with a strong bounce back to 170 levels when target reached.

myceliium Updated 

TSLA may be in a C wave - watching the 2.618 fib retrace from the peak of the last rally. Sub $900 possible before the end of the year.

myceliium Updated 

After opeing at ~16% lower a the start of the trading day, LCID has been on a tear to regain support @ 45. While this move has been impressive, it is likely that the bearish trend has been established and LCID will continue lower - possibly retesting 40 - lather this week. Keeping an eye on this one. LCID 40 PUT 12/17 could be the play

myceliium Updated 

Just wanted to put a closer view of the chart idea up - mostly for fun. I think the move will happen relatively quickly

myceliium

Revising my earlier idea because BTC is looking very weak right now. The accelerated selloff could take it down to break support at 40 K before the end of the week. Watching the 1. I 618 level if BTC fails to bounce at previous low

myceliium

After temporarily holding 50K support over the the weekend it looks like BTC is ready to go down again. I'm not sure whether or not it will read the previous low but a test of 45K or lower is likely. Bearish trend is being established. Resistance @ 50k & 54k

myceliium

AAPL has been running hot but a retest of previous support is now likely. 170 PUT 12/17 for very short term trade may pay off well

myceliium

BTC is currently sitting below support which also happens to be the 50% retrace of the last leg of the sell off - if it is able to break former support/current resistance level of 50k, it could run to 52k before attempting a retest of support. With that in mind, this week could see BTC range from 52k to 42k as support and resistance are tested before the next move

myceliium

The stocks are starting to fall and I think SOXS is poised for a rally once traders begin hedging considering the enormous gains made in the sector this year. 4 CALL 12/17 is what I'm looking at