EliteOptionsTrader

Brando- Options trader for 13 years. Here to spread my knowledge and help others.

    • SmartReversalsSmartReversals
      ·04-11 20:32

      Bullish Crossover Faded in $QQQ?

      4th visit to the 50-Daily MA zone in the last 5 trading days. Too much weight in one line, curving with the price action of the last 2 weeks. $434 is a confluence zone of levels. It should generate a bounce; otherwise, the $428-$425 zone will welcome the price. Circled in the chart, previous failed attempts to flip oscillator. $Cboe Volatility Index(VIX)$ $Destiny Tech100 Inc(DXYZ)$ $NASDAQ 100(NDX)$ Image
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      Bullish Crossover Faded in $QQQ?
    • SmartReversalsSmartReversals
      ·04-09

      SP500 Still In Greed Zone

      The distance with 125MA is a component of the Fear and Greed IndexIt represents a long-term average price of an index. When the current price is significantly above the 125MA, it suggests investors are feeling optimistic and potentially euphoric, pushing prices higher. Conversely, when the price is significantly below the 125MA, it might indicate investor fear or pessimism, potentially leading to selling and lower prices (one example in the chart: June 2022). The distance between the price and the 125MA helps gauge investor sentiment. A large distance (price far above or below the 125MA) can be a warning sign of potential market corrections. Knowing the prevailing sentiment (greedy or fearful) can help investors make informed decisions. For instance, during periods of greed (price well abo
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      SP500 Still In Greed Zone
    • SmartReversalsSmartReversals
      ·04-02

      DXY:The daily Chart for 2024 presents levels close to overbought

      $USD Index(USDindex.FOREX)$ The daily Chart for 2024 presents levels close to overbought conditions relative to RSI, and already overbought relative to Stochastic. There are similarities with the previous top. If the reversal gets traction, $103.8 would be an expectable/conservative destination.Image
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      DXY:The daily Chart for 2024 presents levels close to overbought
    • SmartReversalsSmartReversals
      ·04-02

      Dollar on the Cusp: Seasonality Coming in April? (Overbought & Indecision)

      $USD Index(USDindex.FOREX)$ on the Cusp: Seasonality Coming in April? (Overbought & Indecision) So far, the seasonality has worked out for $DXY in 2024, rallying between January and March. April is typically a month for the USD to decline, wether if the trend is analyzed from 1970 or from 1999.Image
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      Dollar on the Cusp: Seasonality Coming in April? (Overbought & Indecision)
    • SmartReversalsSmartReversals
      ·03-26

      IWM: Bullish Pause or Stepping Stone to 50DMA?

      Based on the past few months' price action, a recurring pattern has emerged: $iShares Russell 2000 ETF(IWM)$ Bollinger Band Cross: When the price breaches the higher Bollinger Band, it tends to fall towards the 20-day moving average (20DMA), sometimes it has acted as a bouncer. 20DMA Breach: Losing support at the 20DMA leads to a further decline towards the 50DMA as indicated in chart. The price closed very near the 20DMA today, with the Stochastic indicator curling down, suggesting a potential loss of momentum. The 50DMA, however, is still far from the current level. A positive factor is the presence of a solid volume base (A). While this wide base will likely cushion any pullback, it's important to note that the Point of Control (POC), a key supp
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      IWM: Bullish Pause or Stepping Stone to 50DMA?
    • SmartReversalsSmartReversals
      ·03-26

      SPX Faces Support Test, VIX Hints at Volatility

      $S&P 500(.SPX)$ Support in Focus: Today's candlestick pattern, the Stochastic crossover and the RSI divergence, suggest a potential continuation of the bearish trend tomorrow. If this occurs, the next support level to watch is $5,208. A breach of this level would send the index down to $5,150, a support matching the weekly 5 moving average (5MA) zone and the favorite support of this rally: 20Daily Moving Average. $Cboe Volatility Index(VIX)$ : Bounce with a Twist: The VIX bounced off its 20-week moving average, as mentioned over the weekend. While the daily candle appears bearish on the surface, the closing hours leave room for a possible upward reversal (green VIX) tomorrow. TNX on the Rise: Growth
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      SPX Faces Support Test, VIX Hints at Volatility
    • SmartReversalsSmartReversals
      ·03-21

      S&P 500 Soars: $5,110 Support Fortified, $5,277 Next Stop?

      The 7th attempt was the charm The $S&P 500(.SPX)$ 's breakout today has fueled the rally and appears to be solidifying $5,110 as a key support level for the rest of the year. The consolidation expected is reminiscent of past instances where the index crossed the Bollinger Bands in a significant proportion of the daily candle. Here's the good news: the resistance at $5,190 has flipped and is now acting as support. Adding to the bullish sentiment, the oscillator's crossover provides further confirmation, and the MACD's attempt at a bullish crossover aims to seal the deal. The next target would be $5,277 if $5,190 holds during the week. This level can serve as a reference point for a stop-loss order, making it a more strategic option compared to
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      S&P 500 Soars: $5,110 Support Fortified, $5,277 Next Stop?
    • SmartReversalsSmartReversals
      ·03-20

      $SPX,$NDX, $IWM: Key levels to watch

      "Being too bearish may be risky"Posted yesterday for subscribers, the relevance of $17.770 for $NASDAQ 100(NDX)$ ; equivalent to $431 for $QQQ and the potential bullish crossover in formation. Today, price bounced from those support lines and it's currently parked at the 10 and 20 DMA. Same for $iShares Russell 2000 ETF(IWM)$ , the relevance of $200 was posted, also the oscillator. Today, price bounced again from there, and 20DMA will dictate if there is continuation or rejection. Interestingly, $S&P 500(.SPX)$ is nearing for 6th time the $5190 zone, this is something to watch considering also the bullish crossover in oscillator. (The more a S/R line is tested,
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      $SPX,$NDX, $IWM: Key levels to watch
    • SmartReversalsSmartReversals
      ·03-18

      The Aristocracy of the Mag 7 Take a Breather: MSFT & AMZN Eye Consolidation

      The Aristocracy of the Mag 7 Take a Breather: MSFT & AMZN Eye ConsolidationBoth Microsoft and Amazon appear to be nearing consolidation phases after establishing new volume bases. Let's delve into the details for each stock: Microsoft - $Microsoft(MSFT)$ Support & Resistance: The $433 level acted as a support/resistance line throughout the week, potentially indicating upcoming consolidation around the current volume base (A) formed since February.MACD Crossover Watch: A potential bearish crossover on the MACD indicator is forming. Confirmation of this crossover warrants attention, as it previously signaled a price consolidation period (Base C) on the chart.Short-Term Support: The $410 and $400 levels have served as temporary support lines
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      The Aristocracy of the Mag 7 Take a Breather: MSFT & AMZN Eye Consolidation
       
       
       
       

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