vergun

vergun Updated 

$USO / $CL / Oil have completed a (i)-(ii) off the bottom, with wave (ii) entering into an area of demand that supported price this week, and it is about to begin the very strongest part of the 5-wave fractal in wave (iii), from there it will have a corrective wave (iv) down, then another push even higher in wave (v). I've highlighted with red boxes the sell...

vergun Updated 

$ES touched $2800 and poked through the top of its upper wedge resistance trendline. On a technical level we have one more push higher in C of (V) to complete before this fractal is over – but we may not get it. I would like to see price complete this final wave by breaking upward vertically out of the wedge and hitting what has been my target since the bottom...

vergun Updated 

$UBER completed the (B) wave (lilac B) of a simple zig-zag correction (3-3-5); now it is heading up to the red box to complete the lilac C. The lilac C will be structured as a 5-wave impulsive move to the upside. After that lilac C completes $UBER should target new lows.

vergun Updated 

$BYND completed the (B) wave (lilac B) of a simple zig-zag correction (3-3-5); now it is heading up to the red box to complete the lilac C. The lilac C will be structured as a 5-wave impulsive move to the upside and waves (1) and (2) of that impulsive move completed on Friday. After that lilac C completes $BYND should target new lows.

vergun

Everyone is calling for 320's relief rally, but what corrective structure fits such a case? This corrective structure is not simple zig-zag (wave b-down is retesting wave-a origination point), so the highest case up would be Expanded flat where we make a slightly lower low and a slightly higher high, but that would only reach ~ 318 on $SPY. That expanded flat...

vergun

This corrective rally may put in one final push up to complete the ascending wedge at point (E), which aligns perfectly with the supply (red line) that should push $GDX down out of the wedge and start (C) leg down of the sell off targeting a lower low

vergun Updated 

$CSCO Approaching major trendline resistance. A great short setup at $53 with a profit target of $48.31, which meets long term support and is a partial gap fill. Usually with gaps, there will be a partial (mid-way) gap fill on the first attempt, then a snap back rally, consolidation and at some later point a complete gap fill. This $CSCO opportunity is a great...

vergun Updated 

While the rally in gold miners is intact, gold miners is likely to make a significant move down in the immediate future. This affects $GDX, $NUGT, and $GDXJ. The print of the doji is pending a selloff confirmation tomorrow to start the move, which coincides with the Fibonacci time series analysis to project a move lower. Traders banking on support being held at...

vergun

Charting the 5-wave extension of this move, we can see that we're currently topping on Wave A of 5. What's to come, is a small B of 5 move down, then a C of 5 move up. The target for the B of 5 move down is $276. Where we'll likely find support and start the final push for this impulse move higher. Likely targets to the upside include $285.35 and $292. In...

vergun

We're coming to a major reversal zone on $GOOG, we've had a great run but the overextended NASDAQ looks to be cooling off, and this is a great place for a short entry or exiting a long on $GOOG/$GOOGL. The R1 zone at $1209 pegs the October 2nd/3rd resistance level. There's likely to be strong selling pressure here (if we ever make it that far). A great entry...

vergun Updated 

$NFLX has been trading sideways for the past month or so. Having fallen out of its bearish ascending wedge, many traders were anticipating a fast decline. However, $NFLX after falling out of its bearish ascending wedge, has been placed into a new channel. Ping-ponging around the new channel, $NFLX's path of least resistance is down. Daily RSI, Money Flow is all...

vergun Updated 

After nailing the drop in $ROKU (see related ideas), I see a less aggressive but similar price rotation playing out in $NFLX. First, much about this stock is a little technically broken. 1. Declining RSI with RSI bearish divergence. 2. Declining On Balance Volume. 3. A pattern of Lower Highs. 4. Rolled over negative MACD. 5. We just broke lower from a bearish...

vergun Updated 

Despite all the bullish sentiment surrounding the major indexes, we are now under a trifecta of resistance at this key level. We have now been rejected from an area that is: 1.) The downtrend line from the late September stock market crash. 2.) The $282 level resistance area from the October to November correction. 3.) The 2018 rally trendline, which we fell...

vergun Updated 

Likely inflection point today in the tech heavy $QQQ. The divergences between the Russell 2000 and Dow Jones Industrial Average setting in lower highs and the S&P and QQQ setting in higher highs, is pointing toward a short term drop at resistance. Using fibonacci time frame analysis, we can see that on or about today is the likely time for this reversal. We can...

vergun Updated 

$AMZN has been forming lower highs and lower lows (circled in red), recently fell out of its support range with a test upward. Unsupported, given broad market weakness given by a negative McClellan Oscillator reading, Amazon looks ready to test its lower trendline. Expect lower highs and lower lows until a convincing break and hold of the downtrend line. The...

vergun Updated 

$ULTA is priced to perfection for its earnings announcement. Its stock has rebounded from the low $200s to the low $300s. Time series fibonacci analysis says we are likely to see an inflection point in the stock this week. This coincides with $ULTA's earnings. Let's see what happens to this stock tomorrow. I believe almost any positive upside surprise is already...

vergun Updated 

Shopify has had an incredible run, however during this run its MACD has started to curl over and its money flow has been negative, all the while as it approaches a key RSI reversal level and Yearly Fibonacci Pivot Point (R3), indicating a potential reversal. On the technical analysis chart I've included a line denoting the decreasing money flow and bearish MACD....

vergun Updated 

With China's drastic growth cut and terrible net export numbers, $BABA is coming under pressure, both from internal and external consumption from growth and trade optics. We have a beautiful Island reversal setup that is playing out as we speak. $BABA tried for a knee jerk recovery but today is failing, and this is an excellent short setup for the next leg...