It is always amazing to see how the market ends up being at extremely important technical levels into big weeks like the week coming up. SPY is trading at the previous support zone from before the bear market started which ended up being a reversal zone in August and price is now here again. With CPI data, the FOMC decision, and OPEX into the end of the week, this is a very important technical level to get above which is currently right at $431.75.
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NASDAQ BULL TRAP STUDY
Introduction lost a lot of money when I began trading in 2018, and truth be told I have not made it all back yet. For years I blew up accounts not being able to recognize bull traps and properly set my stop losses (or take profits) and I engaged in a lot of capital destruction. As such I have spent a lot of time trying to make sure I don't destroy more of my capital in trading another bull trap. The real question for myself is "Have I become vigilant (seeing what is there), or hyper-vigilant (seeing what is not there). Analysis This is a simple application of support and resistance. What was support flips and becomes resistance. But, because we suspect there may be a bull trap we are looking for a potential fake out. So the resistance may look like it is going to fail. ) In this case the s
NASDAQ BULL TRAP STUDY
SPY Trading at the "Make or Break" zone into CPI, FOMC, & OPEX
SPY Trading at the "Make or Break" zone into CPI, FOMC, & OPEX
GOOGL:A Compelling Investment Opportunity with Growth Catalysts
Alphabet, with its heavy reliance on digital advertising, faces challenges during weaker economic periods. However, its recent revenue growth slowdown of 3% reflects the current macroeconomic conditions. To address this, Alphabet is implementing cost-cutting measures, including significant layoffs. Despite these challenges, Alphabet's shares have seen a 40% increase in 2023, albeit remaining 17% below their all-time high. The question arises: Is Alphabet a good investment? The answer is a resounding yes, and here's why. Google Search, contributing 58% of Alphabet's ad revenue, maintains an overwhelming global market share of 92.8%, while competitors like Bing struggle to gain traction. Thus, Google's dominance remains secure. Alphabet's Google Cloud Platform (GCP) shows impressive growth,
GOOGL:A Compelling Investment Opportunity with Growth Catalysts
Breaking News: The Bitcoin Bottom Is In! Admittedly, this is a clickbait title ... However, let me explain .. In previous cycles between halvings, the duration between the cycle high and cycle low was 13 months as you can see on the chart, with a price drop of >80% in that period. November '22 marks the 13th month since this cycle's ATH, so if history is respected, chances are that this month will mark the low for this cycle. Is the bottom in now? Today is only the 10th, so the month is another 20 days ... • How low can we go? I personally think that we could find support around 13800, which is the previous cycle's highest monthly close. So 13800 is the bottom? Not necessarily, we could spike lower than that, as 13800 would only be a 79% decline in price, so not the >80% drop w
Why TESLA is STILL HEADING LOWER
Hi Traders, Investors and Speculators of Charts / A quick analysis today on Tesla and why I'm still expecting the price of TSLA to head lower. After a nasty Head and Shoulders Pattern on the monthly, TSLA has reached a selling climax and an automatic rally afterwards (which always follows a SC). However, if we look at the Wyckoff Method schematics, this is not yet the bottom. The bottom is expected to happen during phase B, which is the phase we're about to head into. ST will always be LOWER than SC, therefore there will be another chance to accumulate TESLA at a lower entry.
Why TESLA is STILL HEADING LOWER
Mild price gains in Gold as USDX dips, crude oil firmer
Gold prices saw a slight increase at the start of trading on Thursday in the US, supported by a lower US dollar index and stable crude oil prices. Traders are looking for the next fundamental input to boost the metal market, but they may have to wait until next week. August gold rose by $1.70 to $1,960. The market is starting from scratch in next week's FOMC meeting of the Federal Reserve. Most of the market believes that the Fed will pause its tightening cycle. However, now many market watchers think that the US central bank will follow recent moves by the Bank of Canada. The BOC raised interest rates by an additional 0.25% this week after a four-month pause. Technical advantage in the short-term benefits gold future speculators. Their goal is to create an August future contract that clos
Mild price gains in Gold as USDX dips, crude oil firmer
The US Treasury cash rebuild; volmageddon or a nothing burger
While Congress still needs to pass the debt limit agreement, the debate in the market has shifted to the need for the US Treasury Department (UST) to rapidly rebuild its depleted cash levels. We have no understanding of the timetable, but already the debate is whether the significant level of Treasury bill issuance will result in a maior headwind for global financial markets, while others believe this is pure hype. Some are contrasting what lies ahead as a massive liquidity withdrawal from financial markets - Quantitative Tightening (QT) on steroids - where we will essentially see USD liquidity sucked out of the system. The process of raising cash levels To raise and rebuild its now low cash balances, the US Treasury Department (UST) will look to issue around $1.3t of US T-bills over the f
The US Treasury cash rebuild; volmageddon or a nothing burger
AAPL: Navigating the Push to $166-$167 and its Impact on SPX
On March 28, merely three days ago, I highlighted the inverted head and shoulders pattern observed in AAPL's stock price. In this particular case, the pattern indicated a bullish continuation. I discussed the support and resistance flip that transpired at the $156 mark. At that time, AAPL was trading just below $156.50, and I projected a bounce to $166, provided that the stock found support at $156. Currently, with AAPL at $164, I maintain my expectation of a push towards the $166-$167 range in the upcoming sessions. AAPL's performance has contributed significantly to the upward movement of the SPX in recent days. While not the sole reason, AAPL's strong showing is indeed a critical factor, given its heavy weighting in the index. Other stocks, such as TSLA, have also performed well, furthe
AAPL: Navigating the Push to $166-$167 and its Impact on SPX
AAL - Like An Eagle
on MONTHLY: Left Chart After rejecting the 26.0 resistance zone, AAL has been overall bearish. However, AAL is now sitting around a strong support zone and round number 10.0 on WEEKLY: Right Chart For the bulls to take over, we need a break above the last major high in gray. Meanwhile, until the buy is activated, AAL can still trade lower inside the 10 - 12 support zone where we will be looking for short-term buy setups on lower timeframes. © Always follow your trading plan regarding entry, risk management, and trade management. Good luck!
AAL - Like An Eagle
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