wallstreetsharks

wallstreetsharks

XLK hourly chart shows we could be in a sideways market here before we finally make the wave (3) rally that could reach 147 -150 with an impulsive 5 waves to the upside.

wallstreetsharks

The primary wave count on the NDX is looking for a pullback into wave B at support levels 12567 for a wave C rebound. This is a catalyst for a healthy consolidation in the medium term and we expect this short term pullback to hold at wave (ii) support for a potential rebound into wave iii. Look to close out on existing -ve delta butterfly spreads once wave (B)...

wallstreetsharks

On the Daily time frame, a pending wave (ii) on the S&P is presenting a good opportunity to establish longs once support at 3822 is reached. Look to establish bullish verticals or Positive delta butterfly spreads if the 3920 wave (ii) support level is tested for a potential move higher into wave (iii).

wallstreetsharks

Alternate wave count shows a sideways consolidation could continue into May 2021. Wave count invalidation at 12211. In the near term, we entertain the possibility of a move to the downside testing support levels at 78.6% retracement or 12567.

wallstreetsharks

The primary wave count on the NDX is looking for a pullback into wave ii at support levels 12567 for a wave iii rebound. This is a catalyst for a healthy consolidation in the near term and we expect this short term pullback to hold at wave (ii) support for a potential rebound into wave iii.

wallstreetsharks

To the minor time frame, the S&P is forming a final subdivision into wave Y. We are looking for a wave (2) pullback with a longer term upside in the overall markets. Once the support level at 3822 is reached, will be in the indication that wave (2) is complete setting up a medium rally that could carry us into the 4000’s. Any pullback into 3822 level is a buyable...

wallstreetsharks

AMZN is dropping into wave ii support level at about 2830 before a rally in wave ii begins. Look to establish some longs on AMZN expiring April.

wallstreetsharks

On the daily chart, the NDX is looking for a pullback into wave ii which is ideal to set up a butterfly spread to capitalize on this sideways consolidation pattern. The corrective pullback is a bearable opportunity for a medium term rally that could extend into July. Looking to establish a Butterfly Spread 12900/12600/12300 Put Spread expiring March 29th to...

wallstreetsharks

The S&P is forming a final subdivision into wave v. We are looking for a wave (2) pullback with a longer term upside in the overall markets.

01:08

wallstreetsharks

SPCE is dropping into wave ii support level at about 29 before a rally in blue wave I begins. Look to establish Leaps on SPCE expiring end of the year with an upside target of 76. On guard for a possible rebound along with the NDX (refer to the above ) making a potential rebound in wave (2).

wallstreetsharks

SPCE is dropping into wave ii support level at about 29 before a rally in blue wave I begins. Look to establish Leaps on SPCE expiring end of the year with an upside target of 76. On guard for a possible rebound along with the NDX (refer to the above ) making a potential rebound in wave (2).

wallstreetsharks

Similar pattern for XLK, a sideways triangle is in development as the largest intraday rallies typically occurs in short term downtrends like these.

wallstreetsharks

The NDX has a much clearer pattern indicating a corrective (A), (B) , (C) is underway. Wave (iv) resistance at about 13,348 for a terminal wave v decline back into the 12750 level.

wallstreetsharks

On the hourly chart, the completion of impulsive 5 waves shows the S&P could be in the development on this corrective wave (A) pullback.

wallstreetsharks

A move back into 3900 would suggest the S&P is unfolding into a corrective wave (A) pullback. Moving away from the analysis that wave (5) still has room to go, we are looking to establish a Put Debit Butterfly 3930/3750/3735 expiring March 19th 2021 to capitalize on this short term pullback while remain long on our portfolio for longer term upside exposure.

wallstreetsharks

NVDA Bullish triangle pattern complete targeting wave (5) upside that may reach 732. The immediate rally should reach initial target of 657 and then 732. Look to establish bullish positions like a vertical on NVDA. Wave count invalidation at 500.

wallstreetsharks

Updates on our existing PLTR Leaps from 2020. PLTR remains strong making new highs. Our Leaps from 2020 has moved deep ITM, look to book partial profits and move stops to break even if PLTR reaches wave 5 upside.

wallstreetsharks

We remain bullish on the S&P as SPX rally on going looking to break higher into wave v upside target of 3890 despite this short term pullback we’re seeing last week. One more push higher into 3983 before we see a Larger Degree corrective wave (2) pullback. Wave Count Invalidation at 3737. Although we might see a countertrend corrective pullback, we remain Bullish...