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Joined June 2021
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$NOW: Hanging man candle printed at the top of this bull leg after several days riding the upper Bollinger Band.
A pullback toward the 20DMA usually follows, with that moving average currently sitting at 143.
Not this time?
Earnings report in 2 days.
$MSFT: The 20DMA has been reclaimed, and the Bollinger Bands are squeezing.
With 2 trading sessions left before the earnings report, continued indecisive price action makes a big move likely +/-5%. Will 465 act as a magnet if there is any misstep in the earnings report?
$SPX: Constructive move bouncing from the lower Bollinger band.
Every day, I send modeled levels for the next session via email (join the list using the link in bio).
For Tuesday: Bullish above 7,673, targeting 7,706 and 7,735. 7,643 if there is a retrace. Expect minor moves.
$SPOT is confirming the overheated conditions highlighted over the weekend. Is a gap fill down to 530 next?
$AVGO: Bullish RSI divergence and bounce from the lower Bollinger band. 347 is the ideal/minimum destination for this move.
$AAPL: Indecision at the upper Bollinger Band triggered a pullback, consistent with recent patterns.
The move appears incomplete until 339 is tested, where we will find out if the broader uptrend can resume.
$IWM: Shooting star at the 20DMA, the moving average that has dictated this decline.
The structure remains constructive, but 277.2 must hold as support to keep momentum intact and ideally invalidate this potential bearish reversal candle with a close above today's high.
$TSLA: Strong breakout today above the 200DMA, marking a key milestone even for long-term investors.
While the open gap below may set near-term pressure, the structure remains constructive with an active series of higher highs and higher lows.
$QQQ: A routine bounce from the lower Bollinger Band.
There is still work to do since the gap acted as resistance. 712 must be flipped to support tomorrow, and then 718 must be cleared with conviction.
$AMZN reports earnings this week, and we can expect a volatile move likely breaching a Bollinger Band.
Lately, the post-earnings reaction has been as a contrarian signal: bullish reactions faded the following quarter, while February's drop preceded a sharp rally.
Different now?
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$AAPL: Indecisive price action at the upper Bollinger Band has triggered declines to at least the 20DMA. This time should be no different, with 338 in sight.
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$SPX: Indecisive action on Friday, but the price is not oversold.
Every day, I send modeled levels for the next session via email (join the list using the link in bio).
For Monday: Bearish below 7,632, targeting 7,603 and 7,583. Hard resistance at 7,647.2, then 7,651.9 follows.
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$QQQ: Indecision at the lower Bollinger band after reaching oversold conditions. A technical bounce is likely, but the challenge is to surpass the red zone to validate any rebound.
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$GOOG: The stock has cratered -21% from its peak and oversold, the P/E ratio sits at 2022 lows, and revenue and EBITDA continue to grow. Will capital expenditures per share continue to pressure the stock?
$IREN: A bullish divergence may be developing again. That doesn't mean a bottom is in, but rather points to a potential technical bounce before price puts in a lower low that diverges against a higher low on the RSI.
$CRWD: Bullish Stochastic crossovers have triggered rallies into overbought territory, and the chart is far from overbought today.
With the bounce launching directly off the lower band, the bullish setup gains extra weight. If the pattern repeats, the 275-280 zone is in sight.
$BTC: Bounces off the lower Bollinger Band have triggered relief moves to the 20DMA, even during bearish legs like this one. If the pattern repeats, $82K can be retested soon.
Bearish continuation after that? Not sure. Bitcoin has been resilient lately, outperforming AI stocks.
$NOW: Recent breaches of the upper Bollinger Band have triggered visits to the 20DMA.
Price has been riding the upper band lately. If the pattern repeats (no reason to expect otherwise), the 141 area is on the horizon.
$SPOT: Overbought RSI and an upper Bollinger Band breach pair with indecisive price action.
A healthy pullback is welcome here. The gap at 531 could challenge the short-term uptrend, but the long-term structure remains intact as long as 516 holds.
