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This is a very simple analysis. Just pointing out that Tesla is now at the top of a parabolic channel that goes back to the beginning of this year. It can still go higher from here, but some will be looking to take profit in this area. The bottom of the channel is around $1,300.

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The yellow moving average shown on the chart is the 400 week moving average. Institutional investors and macro traders typically see the 400 week MA as an area of an asset being oversold. As you can see, the 400 week moving average is where SPY bottomed earlier this year, the question is, will DXY do the same now that SPY is near all time highs? These are great...

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Before the trading day starts its imperative to have a plan. This will keep you from making decisions on-the-spot which are usually emotionally driven. We all suffer from our emotions affecting our trading, so we need to do everything we can to limit these affects. Make sure you are taking into account support and resistance on the monthly, weekly, daily, and 4...

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SPY is currently at major resistance within a an ascending triangle pattern. This means market participants have been buying the dip and selling at the same 3222 resistance. The dip has become more shallow as we have experienced higher lows. More often than not, this build up pressure results in a breakout, although many believe ascending triangles to be a...

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Relatively, right now, it FEELS like we're extremely overbought. It's important to keep an open mind for all possible outcomes going forward. If history has taught us anything, what seems to be overbought can become much, much more, overbought. The left chart shows SPX's price action from 1951 - 1984. In 1984, if you thought this was the perfect shorting...

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NASDAQ, NDX / QQQ, has been leading the stock market rally. In my opinion, we don't need to take any other chart / index into consideration when looking at the trend of the stock market. We recently reached the top of a large pattern that goes back to 2018. I mentioned in a previous idea that the price is likely to find resistance on the top line, and it...

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Nasdaq is currently at all time highs, but it still has one more major hurdle to cross. The overhead trend line resistance that goes back to 2018 is the bears last hope. The last time we hit this line we had a major sell off (please see my related idea below). We're hitting it again. If it tops here, it could be a long way down. If it holds above it, we may see...

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I'm writing this as a tutorial and a play by play of my trading, also as an analysis of how I traded this incorrectly. This morning, before the market opened, I saw a perfect bear flag on QQQ (I was using Nasdaq Futures to trade it). I just wanted to talk about the range of emotions when trading a pattern that clearly shows strong bullish price action, but since...

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This is the bear's last hope. Nasdaq is testing very strong overhead resistance that goes back to January 2018. If it's able to clear this resistance and use it as support, we may continue to see further upside. However, long term traders and institutions will likely see this as a great area to take profit. I recommend trading on the 1 hour chart to see which...

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On the weekly chart, Apple has reached the top of a channel that goes back to September 2018. This doesn't mean that it's the top, it just means that it's a potential top and a spot where some long term investors may be looking to take profit. Apple could break through the top and come back down to retest this channel as support before going higher. We're seeing a...

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Nasdaq is extremely close to making a new all time high. This is a great area in terms of risk and reward for the bears, and possibly for the bulls as well. As mentioned in my previous ideas, exchanges sell their order flow of their users to high frequency trading firms and institutions. This means market makers with billions of dollars know where everyone's stop...

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First, I just wanted to say the Baby Boomer generation endured many hardships and I am beyond grateful for their sacrifices, especially since I'm a child of a Vietnam Vet who battled PTSD until his last days. I'm dedicating this post to them. Even as a GEN-Xer, I too have a hard time understanding the millennial generation and their interests, but I think it's...

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To the bulls, Boeing looks like it may have bottomed with an ascending triangle formation. To the bears, it looks like Boeing reached the top of a bear flag. There is no way on knowing who is right, but this is how to trade it. Bear flags are essentially ascending triangle breakouts that fail. When an ascending triangle breakout fails, bulls become disheartened...

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First, I would like to say that I am a believer in Bitcoin. A quick summary of my belief, Bitcoin is like the English language. Not perfect and has many flaws, and I'm sure anyone can create a better language if given enough time, but Bitcoin is the language everyone in Crypto talks and it will be hard to dethrone the king. Bitcoin is enough, even if the cost to...

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I've been trading for 20+ years and I believe I have almost seen it all. I've had big winning trades, and huge losses. Some of my biggest wins came when I was a beginner aka fomo trader, and my biggest losses came when I become more knowledgeable of the market. My most consistent trading came in my latter years when I gained experience and felt real pain, and I...

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Here is a chart of the put to call ratio when compared with NASDAQ's ETF, QQQ. When the line is at the bottom of the PC chart, that means market participants are net short. When at the top, they are net long. I'm sure we've all heard the saying that market makers usually take the other side of the trade. This chart shows that this is a true. When stocks are...

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On the weekly chart we're able to draw a near perfect parallel channel for Apple. Yes this analysis is simple, but keep in mind trading for the most part is simple, it's the over-thinking that makes it complicated. I was able to call the exact top of SPY using a simple trend line (see my related idea analysis below), and the same may be possible here. Apple is...

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A very prominent gap was just filled on QQQ. This was likely a profit target for many traders. What's next? Bull Case: 1. NASDAQ has retraced more than .78% of the move which usually indicates that this is not a counter rally, rather a rally towards a new high. 2. The trend is undoubtedly bullish. 3. Tech has been leading the rally and QQQ/NASDAQ is heavily...