Alltimehigh
PAYX: Strong earnings report above a completed double bottomPAYX had a strong earnings report and continues to climb upward slowly making new all-time highs. The completed double, aka W, bottom is a short-term bottom formation that provides moderate to strong support if more profit-taking occurs.
MCD: Pre earnings run at new all-time highMCD has a pre earnings run underway. It has broken out of a long-term trading range to a new all-time high. The technical indicators are diverging from the price action, indicating the rising risk of a retracement due to profit-taking.
FAST: Steep rise, overextended indicators = profit-taking riskFAST moved out of its sideways pattern and gapped, then ran up to a new all-time high. The stock is at risk of profit-taking due to the angle of ascent of the price action and the overextended technical indicator patterns.
ADTN: Bottom completionADTN broke through moderate resistance to confirm a completion of its short-term bottom formation. ADTN has a previous all-time high of approximately $47.00. Profit-taking is likely as it nears the resistance from the lows of the prior sideways pattern above the current price.
$SPY - Weekly Chart Analysis Heading Into Easter Long Weekend$SPY - with its consistent grind for the month of April, we have finally found ourselves approaching ATH (All time highs) from back in October 18'. All indicators illustrating market breadth is exhausted and due for a pullback. With earnings and volatility arising in the majority of S&P names, we will be mindful of both directions the market can take. For healthy longs, we would like to see a slight pullback to $285-$290 level of consolidation to let the market catch it's breath and overbought sentiment.
Main focus for day trades have been day 2 continuation plays off highly correlated news-based plays moving irrelevant to the market conditions. Other focus setups have been on the earnings reports and pre-market gappers that also tend to more irrelevant to the market conditions.
Still keeping a mindful approach to how the $SPY is acting in conjunction with my watch-list. On gap up days, market tends to give less opportunities at the open and for longs. Key is to be patient, let the pullback/dip take place and base out, then look to attack the healthy long setups that have bullish support from the overall market.
If we do hit doomsday mode where media and major names start to tank during earnings season, will look to focus my watch-list on the inverse ETF's (UVXY, TVIX) as they are my bread and butter during volatile market dips.
Have a great long-weekend everyone and I will see you all Monday!
CHKP: Intermittent Dark Pool accumulation and Pro TradersCHKP is one of the few stocks that has breached its previous all-time high, corrected mildly and then resumed the uptrend to new higher highs. The stock has a mixture of retail traders, pro traders and mild Dark Pool accumulation at times. The momentum will stall intermittently with profit taking from professionals.
MSCI: Steady momentum gains on Dark Pool and Pro Trader actionMSCI has been moving with steady momentum gains after periods of resting days. The stock is now at another new all-time high. The pattern is indicative of steady Dark Pool and pro trader activity.
$SPY - Daily Chart Extreme Overbought & Parabolic Snapback Setup$SPY - our $283 level of resistance finally broke over with the market busting over and gapping up this week. Spy currently sitting at $288.26 at time of post. Highs of market are at $293.85. 7th green day in a row, constant gap ups making it hard to get day trades with market breadth sucked out before market opens. In individual names, I have been take about 30% less trades than normal. Longs my hold time is about 1/2 of what it was a few months ago. Always have to adapt and find the trend with market conditions.
$SPY - expecting a pullback sooner than later with stochastics now at 90.17. Market is due for a breather and pullback to at least 9ema, otherwise other notable level is $283 area again (for tap off support).
Have a great weekend coming up!
CSCO: Steep rise to new all-time high poised to shift sidewaysCSCO is one of the very few Dow 30 components at a NEW all-time high. CSCO is riding on new technology in 5G and other areas. The gains are slowed down by some selling but the steep angle
of ascent has continued. The stock is poised to shift sideways ahead of its earnings report date.
SGRO Long This week I will be keeping an eye on the UK based REIT SGRO, their main business is managing industrial storage units, the stock is within 3% of its all time highs and is consolidating nicely around the 662 level. The consolidation has been a bit all over the place for my liking and that skews the entry a little bit as I like to clear all previous highs with my entry to avoid running into previous resistance but the spike on the first of march would make the entry too high from the level. that being side the price is bunching up nicely under the level and on the weekly scale an inside weekly doji gives me the feeling that we could see some action within next weeks trading. My improvised entry would be 663.2 as this clears the attempt on the 30th of January but if you want a clear margin of safety in the trade then 6666.3 would be the stop entry. This stock is a relatively low beta at 0.76 (yahoo finance) which I think could help it out given the weakness lately in the FTSE 100, I hope you liked this idea, if you did be sure to comment what you like if not then that's welcome too.
Happy trading.
Joe
The Bottom Is InI developed an indicator, the Saracino Bitcoin Momentum Index (SBMX). On the monthly chart it has been a reliable indicator of a bottom in the past bear markets and right now it is giving a bottom signal for 2018/2019 bear market.
I officially call the bottom.
All time high is nearBNB is very near all time high and moving there with huge bullish momentum. If and When price cross last level of resistance (if it will ever resist), there will be no more pressure from above. Everyone buying will be in profit, kust like with bitcoin before it went down. It might not land on the Moon, but potential is really unlimited and unrevealed, until we really see it clearly fall. No one can say how far BNB will grow, but according to Fibonacci possible levels will be at these areas 325 - 375 - 425 - 525.
When everyone screams recession; run the other way!You've heard it so many times "greedy when others are fearful", but fear takes hold and sways your judgement.
What are the common sense clues?
The talking heads are trying to "call" the recession before it happens simply for an "I told you so" moment, but where were they before 2008 and earlier?
Why can't we make some serious profits after 10 years of an absolute garbage economy?
Headlines for the past two years have been all about Elon's gaffs
Very few called the recent FANG "crash"
All of the technicals are moving in the right direction
Fundamentals are easy... when EVERYONE is calling for a recession, we know the opposite will unfold
FINALLY: Show me an historical All Time High back to the great depression, then show me breaking that ATH, finding support, and it not creating a new bull run. The trend is your friend and stocks are in full bull mode with no signs of reversal.
-racethehair
S&P500 - What´s next?Exemplarily, the S&P500 rebounded on its 61.8% Fibo-Retracement. Also there was the correctional high of October.
If the S&P500 can´t close above 2.820 points, it is in a short-term downtrend . The next first target would be at about 2.610 points.
If the bulls still do not take the scepter, it can slip one more level to 2.480 points.
If we see the year-end rally, and the S&P500 will close above the level of 2.820 , we should also quickly see the old highs at 2.940 .
New all-time highs are also very likely .
Earnings Stock of the Day: DISDisney reports earnings today. The chart has been in a bottoming formation since April of 2018 as this company had a business contraction in 2015. The stock is below its all-time high. The bottom is on the short term within a Trading Range of 30-point dimension. Weekly Chart of DIS shows the trading range. The stock is postured to attempt a breakout of the trading range. This requires that the stock move above the previous all-time high to form a new all-time high. It must sustain the new high and move higher for the trading range to be concluded technically. This length of trading range action typically patterns out the excessive speculation of previous years.
DOGEBTC maybe 300 sats soon moondogecoin moon soon to new double Alltimehigh (bitcoin & $) #doggonacci
WMT Bottom Facing All-Time High and Trade WarsWMT has been in a bottoming formation most of this year. The big gap up was HFTs taking advantage of those who trade on earnings news. Notice how quickly profit-taking follows. The all-time high is strong resistance.
Walmart is one company that is stating it will face revenue and earnings problems due to the Trade Wars and new Tariffs on the Chinese goods it imports. Since this is a discount retail store, the tariffs will eventually force the company to either find another country to import goods from or raise the cost of its imported goods, which is a far more likely scenario. That means US consumers who buy products from Walmart will start to see an increase in the cost of any products or goods imported from China. This could take effect as early as this holiday season. WMT may try to delay some cost increases until next year, but the increase in import costs will be passed onto consumers at some point.
Litecoin / Bitcoin - 2 ways of performanceTo me, it will either do a new Alltimehigh in OCT or DEC. DEC would mean, it all would pretty much repeat from last year. OCT means, crypto will go AllTimeHigh very soon and do a faster correction (maybe 2-3 months).
The 2 ideas pretty much are my views for BTC/USD too.
White line is DEC Alltimehigh, black line is OCT Alltimehigh.
