$SPY $SPX $ES1! Analysis, Key levels, and Targets $SPY $SPX $ES1! Analysis, Key levels, and Targets
I honestly love TA so much. It’s so fascinating to me. Those who trade without TA, like say, just using the option chain, are really missing out on a cool thing….
Not a huge change since yesterdays update, but we did get into the gap but failed to fill it and were rejected at the Daily 200MA…
Tomorrow we have some Bank earnings (JPM, BAC) in premarket (8:30) and so will start the earnings season - and I’m super excited about it all…
I just want to add that I do love being bullish, but today I was driving around and really started to notice the amount of commercial real estate vacant with for lease signs… and I remember 07 and how that was the first signal that something was wrong….
I want to be bullish - but I just am not yet… but there are so so many amazing opportunities in a bear market… and if done right - this is where the generational wealth comes from….
I did add to my 410 put position in April… I’m now 8 deep with an average of 22.31 - I absolutely had to with VIX so low today - and I covered my short 379 puts expiring tomorrow for 97%, looking to sell for next week tomorrow….
And thanks so much for the super awesome support about the video… I will definitely be doing more of that soon!! Hopefully I’ll lean into doing mostly video… I know it’s a pain to read my long rambles sometimes… LOL… so it will be easier on all of us…
Have a fun day trading tomorrow, y’all… 💃🏻
P.S. Yes stupid willy looks like it might cross up… but I’m reading the weakness before it, all of the chop during the holidays as just that, holiday chop…. I don’t see much strength in that cross up and RSI and MacD aren’t supporting a cross up yet…. So lets see how these first earnings go…
BAC
BAC - Price Targets & Stop Loss📈 What’s up investors! 📉
Welcome back to another one of
💡“Mike’s Ideas”.💡
I post as I find signals… these signals are based on the personal rules I have built and follow in order to make up what I call the “SST Strategy”. Follow for more ideas in the future!!
I have 4 levels marked and colour coded on the Chart.
These levels are:
⚪ White = Entry Point
🔴 Red = Stop Loss
🟢 Green = 1.2:1 Risk Reward Ratio
🟡 Yellow = 1.5:1 Risk Reward Ratio
🔵 Blue = 2:1 Risk Reward Ratio
👀 So what are we looking at today…!!!
🚨( BAC ) Bank of America Corporation🚨
Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
Banks gonna run? Why?Lets start with the establish trend, we have a lower high showing opportunity to continue to open up 2023. If you look closely you will see that we have a bullish hidden divergence. But does it have enough strength to blast through the Bullish line. If it does I can see it starting to fill those imbalance candles and attempt to make a higher high above 38.60. If the selling pressure pushes, I can see it hold my 31.48 bearish level.
This slight reangle of the uptrend will make things interesting if the trend rides the line for over 10 days then break.
2023 opening could be a path to cheaper puts for the rest of the year. We will see.
BAC, 10d+/-29.9%falling cycle -29.9% more than 10 days.
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
BANK OF AMERICA One last low and off to the races?Bank of America (BAC) got heavily rejected in early November on its 1W MA50 (blue trend-line) and hasn't recovered since, staying for the whole December below even the 1W MA200 (orange trend-line). This is not the first time we see such price action from Bank of America.
As you see on this chart, ever since the November 2011 Low, the stock has been trading within a Fibonacci Channel, with the extensions serving as very accurate Resistance and Support levels. We have seen 1W MA50 rejections after strong corrections in April 2016 and June 2020. Each of those times, the price hit the Buy Zone (green) before rebounding to a Higher High, while the RSI on the 1M time-frame hit the 38.80 Support. The 1M MA100 (red trend-line), which on March 2020 provided Support, is currently exactly at the top of the 10 year Buy Zone.
As a result, BAC is a buy opportunity, either on the next Low, or if it doesn't make and rebound earlier, if we close a month above the 1W MA50. As far as a long-term target is concerned, the first Higher High on the Fibonacci scale was made on Fib 2.0 (March 2014), the second on Fib 4.0 (March 2018) and the third on Fib 6.0 (January 2022). Investors could hold, based on this sequence, until the 8.0 Fibonacci extension.
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Bank of America Corporation Multi Year Correction Targets 23/25 Bank of America Corporation (BAC) grew through Covid as must banks did.
After an impulse comes a correction.
- The bullish wave is shown here as an EW 12345 Impulse.
- Long-term EW ABC correction now taking place.
POTENTIAL TARGET/SUPPORT ZONE
The low can be set at 23-35.
At or below the 0.786 Fib. retracement level for the previous bullish wave.
CONDITIONS FOR CHANGE
Closing above 38.6 changes the chart bias.
It changes from bearish to bullish potential.
After the correction its over it tends to reverse.
Namaste.
BAC | Time to Short | Bearish DivergenceBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.
Bank of America - Extending higher from the bullish flagBank of America Corp - Short Term - We look to Buy at 37.17 (stop at 35.28)
Posted a Double Bottom formation. Prices are extending higher from the bullish flag/pennant formation. The formation has a measured move target of 44.30. Further upside is expected although we prefer to set longs at our bespoke support levels at 37.17, resulting in improved risk/reward.
Our profit targets will be 44.30 and 48.82
Resistance: 38.60 / 40.37 / 43.75
Support: 37.15 / 36.20 / 32.63
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BANK OF AMERICA CORPORATIONMonday, 14 November 2022
12:59 PM (WIB)
Bank of America Corporation is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Others. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. Global Wealth and Investment Management provides client experience through a network of financial advisors focused on meeting their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other. The company was founded by Amadeo Peter Giannini in 1904 and is headquartered in Charlotte, NC.
BAC - SHORT TERM CORRECTIONShares of Bank of America Corp rose 4.41% Thursday, on what proved to be an all-around favorable trading session for the stock market. The performance of the stock was mixed when compared to some of its competitors
In a short term, a correction is expected to the 0.5 Fibo level with a $34 price target. Further correction is possible as well. 2nd support is located at $31.
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10/30/22 BACBank of America Corporation ( NYSE:BAC )
Sector: Finance (Major Banks)
Market Capitalization: 290.715B
Current Price: $36.18
Breakout price trigger: $36.60
Buy Zone (Top/Bottom Range): $35.60-$32.65
Price Target: $45.80-$46.50 (2nd)
Estimated Duration to Target: 180-191d
Contract of Interest: $BAC 4/21/23 40c
Trade price as of publish date: $1.82/cnt
10/16/22 BACBank of America Corporation ( NYSE:BAC )
Sector: Finance (Major Banks)
Current Price: $31.70
Breakout price trigger: $32.65
Buy Zone (Top/Bottom Range): $30.90-$29.00
Price Target: $35.50-$36.00
Estimated Duration to Target: 48-50d
Contract of Interest: $BAC 12/16/21 32c
Trade price as of publish date: $1.96/cnt
Elliott Wave View: Bank of America (BAC) Rally Should Fail for MShort term Elliott Wave view on Bank of America (BAC) shows that cycle from 9.12.2022 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from 9.12.2022 high, wave 1 ended at 33.54 and rally in wave 2 ended at 34.90. The stock has resumed lower in wave 3. Down from wave 2, wave ((i)) ended at 33.66 and rally in wave ((ii)) ended at 34.87. The stock resumes lower in wave ((iii)) towards 31.21, and rally in wave ((iv)) ended at 31.82.
Expect the stock to extend lower 1 more leg in wave ((v)) to complete wave 3, then it should rally in wave 4 before it resumes lower again. The stock is now close to breaking below the previous low on 7.14.2022 low (29.67). A break below 7.14.2022 should open up a bearish sequence from 2.10.2022 high calling for further downside. Other broader Index such as Dow Futures ($YM_F) and S&P 500 ($SPX) already broke the same equivalent low, thus it’s likely that BAC should do the same. Near term, as far as pivot at 34.88 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside.
$BAC bouncing between $32 and $35🔸️Ticker Symbol: $BAC timeframe: H-1 🔸️Neutral Pattern 🔸️Investment Strategy: Neutral
TECHNICAL ANALYSIS: I think we have a great opportunity to play both sides with BAC; in the short term MM on the Trendsi Dashboard is moving up; indicating that we can more than likely see a push to the upside; which looks even more favorable when we add in our order blocks on the H-1. There are two potential levels to watch for price action; but in the short term, look for BAC to rally a pt or two; I do like the potential rejection at $34.5 and $35.5. Keep these levels on your charts and watch for a break down lower to retest $32 once these order blocks are filled.
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AAPL AMD AMZN BAC NVDA TSLA trade ideas - jtgladiator 8/24NASDAQ:AAPL chart www.tradingview.com
Enter calls > 168.71 watch for reversal off gap or this level for puts PT1 = 169.86 PT2 = 171.52
Puts < 166.65 for gap fill down. Watch for reversal here. PT d165 PT w163
NASDAQ:AMD chart www.tradingview.com
Calls 95c - 99c > 94.44 PT1 95.02 PT2 99.25
Puts 90p < 92.11 PT1 90.56 88.59
I am still swinging the 85p until 9/16
NASDAQ:AMZN chart www.tradingview.com
Virtually no volume until 128.99 then 125.50
From there 122 can come quick but there is some volume there
Looking at swinging 122p
129 and 126p are options also
Calls 138c - 141c > 136.32 or puts off the rejection PT 138 141
Puts < 132.85 129p and 126p or monthly 122p
NYSE:BAC chart www.tradingview.com
BAC traded up while SPY was trading down. Outside candle on the daily.
This thing is ready to make some moves. I like it for the downside. But play the chart and levels.
Calls >35c PT 35.30 36.00 - Be careful of reversals. The outside candle can be nasty
Puts < 34.41 PT 34.29 33.92 33.41 Swing 8/26 or later
NASDAQ:NVDA chart www.tradingview.com
Enter 168p < 169.70
Be aware of reversal
Possible Gap fill to 165.31
PT for weekly is 167.24 then 164.28. Grab 9/2 or 9/16 :p
Or grab for earnings lotto
Enter 178c > 174.60 make sure BOH
Watch for reversal
PT 175.58 178.49
NASDAQ:TSLA chart www.tradingview.com
TSLA went green on 8/23.
Call Swing 950c > 896.48. Watch for reversal PT 901 944
Put Swing 825p < 863.77 PT 855 838 818 785
-jtgladiator
AAPL AMD NVDA AMZN TSLA 8/23 jtgladiator #thestratWe are looking for continuation on the swings we entered on 8/22. If there are any reversals to the upside, be sure to secure put profits and take calls
NASDAQ:AAPL chart www.tradingview.com
AAPL Enter calls > 169.86 watch for reversal off gap or this level for puts
AAPL Enter puts < 167.14 for gap fill down. Watch for reversal here. PT 165 PT 163
NASDAQ:AMD chart www.tradingview.com
AMD Call swing > 95.02 with PT1 99.25 - not likely imo
AMD finally broke the double inside weekly to the downside. Swinging them 85p all the way out to 9/16 or longer
NASDAQ:NVDA chart www.tradingview.com
NVDA Enter 178c > 175.58 make sure BOH. Watch for reversal
NVDA puts enter 168p < 170.30. Be aware of reversal. Possible Gap fill to 164.24. PT for weekly is 164.78. Grab 9/2 or 9/16 :p
Or grab for earnings lotto
NASDAQ:AMZN chart www.tradingview.com
AMZN Grab calls > 136.32 or puts off the rejection pt 138 141
AMZN Grab puts < 132.85 for huge swing with PT of 120 and a gap fill all the way down
NASDAQ:TSLA chart www.tradingview.com
TSLA Call Swing 920c > 877.20 - watch for reversal pt 901 944
TSLA Put Swing 800p < 858.90 855 838 785
NYSE:BAC chart www.tradingview.com
BAC Daily Swing Calls BOH 34.75 PT 35.30 36.00
BAC D/W put /swing < 34.45 PT 34.15 33.40 Swing 8/26
-jtgladiator