Hi everyone! Today, we’ll look at an ETF that everybody knows: SPDR S&P 500 ETF Trust (ARCA: SPY) Just a quick overview of where we are right now - we were trading in a large descending channel (blue trendlines), that we broke out of recently. Well… I’m pretty sure you know what comes next. Most times, stocks come back to test their breakouts. An ETF, which is a basket of stocks, is no exception to this. Notice how SPY is forming a three-legged bearish divergence with an overall decrease in volume over time. This is indicative of (gradual exhaustion) and an imminent trend change for the short term. What’s also interesting is that SPY failed to make a higher high during Friday’s session. This is indicative of short-term exhaustion and downside. A channel could most likely see a bounce

Hi everyone! Let’s analyse a retail darling: Snap Inc. (NYSE: SNAP) SNAP was in the process of filling the 2022 ER gap between 14.57-21.71. A strong ER and guidance would have led to a significant spike up. However, reported figures fell short of estimates, and it dumped post-ER. Interestingly enough, it invalidated the bullish descending channel it was trading in and broke down. However, it has since found support at the green ascending trendline, forming a potential higher low and hidden bullish divergence in the process. It has also retraced between 61.8% and 78.6% of the move up from 8.28 lows. Here’s a closer look at the daily chart. Note the small candle spread yesterday but higher than normal volume. It is indicative of accumulation at current levels. You can also see the failed b

Hi everyone! Today I’ll be covering an American airline: Delta Air Lines, Inc. (NYSE: DAL) DAL has been forming a series of higher lows and higher highs. However, recently, it has been basing in a consolidation pattern that has seen lower highs (bounded by the red resistance trendline) and higher lows (bounded by the green support trendline). More recently, the stock has broken out of consolidation: The “breakout and backtest” pattern was observed, with a smaller symmetrical triangle consolidation pattern playing out with lower highs and higher lows. RSI has been following as well with lower highs and higher lows. A thrust above the consolidation pattern will see the gaps at 40.76-41.48 and 46.79-47.33 filled, before eventually pushing towards the 51.82 high. Given that we’re entering a

Hi everyone! Today, we’ll look at one of Warren Buffett’s favourite stocks: Occidental Petroleum (NYSE: OXY) On the weekly chart, we can see that the stock is forming higher highs and higher lows. The higher lows are marked by the green trendline on the chart. The stock is currently trading in a bull flag pattern. It has been consolidating at the 55.51 level, which has acted as support on previous occasions. Notably, Warren Buffett has been buying around 55-56, which is a sign that “Big Money” is actively accumulating this name. Note that there is also a hidden bullish divergence forming with RSI forming lower lows, while the stock continues to make higher lows and seeing a retest of the ascending green trendline. Interestingly enough, the daily chart shows a small regular bullish diver

Stance: BUY, Price Target: 70 (TA as of 2/7/2023) Fundamentally, there is no change to my stance on INTC. The charts look primed for further upside, and anyone not buying at these levels will chase much higher up. Refer to my initial coverage here: https://ttm.financial/post/184635010363424 Let’s look at the monthly chart: There are some key things worth noting about the monthly chart, namely: We continue to hold the 29.30 yearly Fibonacci extension as support for the third month in a row, which should turn it into a much stronger support for a push higher We closed over both the 200 (33.17) and 225 MAs (31.99) for the first time in 10 months - many a times these longer-term MAs act as very strong supports in stable trends We closed the month with a MACD bullish crossover for the first

So, here's my thoughts on the latest news about Elon stepping down as CEO only after finding a replacement... This might be a good decision in the long run. Elon is already the owner of Twitter anyways, and what he says will play a pivotal role in the future direction of Twitter. What Elon could do is provide the "big picture" framework, while his replacement will do the work of executing his vision and connecting with the employees.  By entrusting the company to a CEO who understands Elon's demands and working style, he can also better focus on improving the misguided perception that he is "distracted" from his work at the multiple companies under his purview, namely $Tesla Motors(TSLA)$ , SpaceX, Neuralink and The Bor

Hi everyone! I’m here to give another update on everybody’s favourite semiconductor stock - Nvidia! To make my charts simpler and less cluttered, I have re-charted NVDA from scratch! It is very different from what I had envisioned previously. Here’s a look at Nvidia’s daily chart: Based on the daily chart, we can see that the stock is trading in a large broadening wedge pattern. Based on what I can see from the bearish divergences (red lines), it suggests that a big leg down could be coming on NVDA. We once again have higher highs based on price action but higher lows based on the 14-day RSI. With yesterday’s closing candle showing a curl of the RSI, I think we have created a third lower high on the RSI while making a third higher high in the stock price. This is indicative of a leg dow

Here's some additional pointers when you place orders using the Tiger mobile application or on desktop! You might also notice some additional parameters to input, such as the time-in-force, and whether to fill outside RTH. I will now break down both concepts briefly. Time-in-force normally consists of Day and Good-till-Cancelled (GTC). For Day orders, they will expire at the end of the the trading day, or the end of after hours trading, depending on whether your broker has after hours trading enabled. As for GTC orders, they will only expire when you cancel them manually, or when a certain period of time has elapsed, after which the system will automatically cancel your order regardless of the status of order fulfilment. Normally, GTC orders could remain in place for stocks with low liquid

Fundamental investing is dying... Or is it? Why I say this is because human participants no longer make up most of the participants in the stock market. In fact, over 80-85% of the $S&P 500(.SPX)$ volume comes from algorithms, most of them high frequency trading algorithms. Now, understanding technical analysis is more important than ever. These algorithms are programmed to be net delta neutral. With the market having same day expiry options all days of the week, intraday volatility is determined by the positioning of these algorithms and how they achieve net delta neutrality. In many cases, we have seen that undervalued companies are depressed far below their fair value. However, the stock made no attempt to increase to the fair val

Hi everyone! In this article, I will be outlining the bull and bear cases on SPY for the coming few days and weeks. Firstly, let’s take a look at the “BULL” case: The bull case suggests that the stock market has essentially bottomed at 348. We are currently moving upwards and creating higher highs and higher lows in a rising wedge pattern. This was partly the reason why we had a very strong pivot level at the 392.49 level marked out on my chart. It was a “convergence” level, where SPY broke out of its falling wedge pattern while bouncing off the aforementioned level. Additionally, we formed the inverse head and shoulders pattern on SPY’s daily chart, which cumulated in a backtest of the 200DMA around 392-393. This is a textbook inverse head and shoulders pattern with a left inverse shoul