FOMC day! Will this be "Buy the rumour, Sell the news" outcome? - What a move by the bulls on Tuesday; Gapped up over MA20 and actually even got supported by MA20 in the push up! - Coming close to MA50 (400); ==> Note that it is a super resistance (confluence of MA50, structural and also a recent downsloping trend line) - Also can be seen as an ugly but slanted double bottom neckline being at 400 Looking ahead tonight - Tonight is not just FOMC rate but also SEP (Summary of Economic Projection) where we will see the forecast terminal rates for 2023 and 2024 etc. It will give market an insight into when the pause or rate reduction will happen. - 0.25 hike might not be super bearish if SEP is "promising", but will still trigger some initial bearish reaction - if pause, might
Converging MA Lines continues preparation for FOMC day move! - MA5/MA200 converging; Bulls took the opportunity to overcome both resistance - Downsloping MA20 is now at 395/396 - MA50 moving towards 400 - Tuesday will see MA5 (yellow) and MA20 (green) coming together very closely (preparing for a Wed post-Powell cross or divergence) - Tuesday will likely see further upside to test or take MA20 on a stop hunt; Unlikely to go above MA50 - Smaller time frame continues to see controlled buy and sell channel - Just no way to call this except watch price action; All eyes peeled onto Wed FOMC Personally, I lean onto a bullish outcome from FOMC based on current price action and increased liquidity recently. A break of below 385 however will signal a liquidation break to hit 373 prett
BLOCK looks good; Riding the crypto run - Long term trading range - 60 to 90 - Big overhead supply above 93 (resistance) - Clear middle of range at 75 (so price action has straddled above 75 or below 75) - In a controlled buy channel since Oct with consistent controlled sell channel too - Current controlled sell channel has reversed and staying above 75 means upside to 93 near term (note overhead supply above 93) Support at 70 (MA200), 64 and 60 (bottom of range) @TigerStars @CaptainTiger @Deposit @LMSunshine
Is JPM attractive when it reaches 114? - One of the best big banks have broken a key support level past week (high volume node level = 131) - It is at another key level of support now (MA200 - 125) - Bear flag play out is 118 target - There is a key support zone (112-118) with the key high volume node level at 114 - It is well adopted that price action will move from one high volume node to another so 114 is very possible - Interesting and attractive. @TigerStars @CaptainTiger @Deposit @LMSunshine
Rioting with RIOT; Room to go once key level can be overcome! - Been a while since I posted don RIOT; Getting interesting again - Bull flag played out exactly on Friday to 8.48 before pulling back - A key level coming up! If it can overcome 9.70/9.80, relatively free-room to go to 13.5!! Glad to have sold puts at the bottom of the bull flag. Got time to let it mature. Pullbacks will be interesting. BTC has some room to go too. @TigerStars @CaptainTiger @Deposit @LMSunshine @melson
GOOG performed well with the recent tech run!! Can it last? - GOOG, similar to many tech counters are hitting key resistances and when at resistance, a good practice is always to manage your risk actively. (e.g. don't go long at resistance, don't FOMO, wait for pullbacks to get it at improved risk/reward) - GOOG is coming out of a MA5 / MA20 cross above ==> bullish trend (e.g. I sold puts at that convergence, e.g. 10 Mar) - It is now outside of upper limit of BB and also getting rejected by MA200 (Purple) ==> I usually don't go long here, but I wait for pullbacks) - It is also broken out of a range above 101 ==> So I note how it remains above 101 or break back into range - I will look for 96/97 as a healthy pullbacks and will also remain bullish if price action continues to get s
All staged for Papa Powell/FOMC on 22 Mar! Big movement expected! Price action always speaks volume. Weekly Chart - Bollinger bands contract - MA lines converged - Very clear extremes (top 420) and bottom (380) - Price action got rejected by the famous MA50 on a weekly chart Daily Chart - MA5 and MA20 are approaching one another; Likely will be close to touching by Tuesday in preparation for explosive moves on Wed 22 Mar FOMC - Range to be broken out from is between 388 and 402 with further expansions to what weekly charts shows 380/420 How I am playing it - Look out for price action to stay between MA5 and MA20 with the touch by end Tuesday - Then wait for FOMC - A rate pause will probably bring MA5 to cross above MA20 and go on a relief rally - A 0.25 or 0.5 would probably brin
AMD continues to show strength with expanding bollinger band and good MA price action! - Reference last sharing on AMD; It has played out exactly how was analyzed! - MA5/MA20 cross has been a good TREND indicator - Expanding bollinger band with price action hugging the top line does show room to go up - However, it has gone beyond too much and due for a pullback to 94 tonight Going forth - 2 bull flag scenario that can play out - target 94 and 105 - Watch out for pullbacks and if supported by MA20 (82) Good luck all! Happy that my sold puts are maturing well with this run. @TigerStars @CaptainTiger @Deposit
Friday Quadwitching Selldown with MA20 rejection? - Exciting price action on Thursday! Big bullish run! Reclaimed MA5 support and then barrel through MA200! - 2 resistances on Friday - MA20 (396/397) and MA50 (399); Could both stop the rally on the quadwitching Friday? - Bollinger bands are starting to contract again (early days still) ==> shared before what happens when BB contract. Key notes for me next days - MA5 (yellow) is starting to base and could move upwards next days/weeks - MA20 (green) coming down - There is a possibility MA5 might cross MA20 in the near future (could it be FOMC on 22 Mar?) ==> Important note that if FOMC turns out bad, it could easily go bearish. As long as there is no real cross of MAs, it is only a possibility) - I would look out for further co
Good showing on Wed; Support off last area of balance as well as bollinger band! Wed price action - Strong bounce off bollinger band and also area of balance from Jan 2023 - Re-took MA5 - Gaps from past days filled! ==> Good! - Does show to have a bull demand coming in between 380 to 384 (bears does not push beyond this levels for now) Thurs price action projection - Options expiry show market makers like a closing on 17 Mar (Quadwitching) between 390 and 400 - Likely to start above MA5 (388) and find support off MA5. - Price action likely to straddle between trading range of 388 and 393 - If it does break MA200, it will find strong resistance MA20 at 395 - Somewhat bullish Thurs so expect my sold puts on Wed to ripen abit more Looking forward - Thurs has jobless claims -