This name has been respecting the 120m20sma very well. We just had a really nice break to new highs on Friday so I would like to see an early flush Monday down to the 63.80 weekly pivot (this is where the new weekly pivot WILL be on Monday) for a nice spot to scoop. Stock has great range.
This stock loves to make these nice controlled retraces before heading higher. Friday had a clean breakout of this base that it’s been building and now a 50-61.8% retrace puts us right into the retest of the breakout area. Not thinking this has to happen Monday. Could easily be something that develops through the week. But I want to keep this on radar.
Just want to see if early weakness into mid 31s-32 starts to hold as support. If it does and the volume isn’t dismal, I may look to scoop in anticipation of an eventual push back over 33.7 to send a bunch of shorts scrambling.
I like where this pullback from the highs has shown the ability to hold. It’s just a nice retest of the breakout from the 9 month long base that was built from Dec.’20-Aug’21 as well as the psychological 100 level. Will look for an early wash off the open to snag some in the 103 area where we have the quarterly pivot plus a retest of last Tuesday’s highs.
Like this name a lot and think that the 50d/annual pivot area around 135 offers a high probability area to scoop for a bounce. I like the range on this name and I like that it respects a lot of the levels really well.
Still really like this weekly chart for a swing. Reminds me a lot of the $DISH chart with the big cup and handle forming. Just trying to position in there on dips so that if this decides to start making that push I can scale into the swing. Looking for a weak open and scoop opportunity around 82.9 which is close to the monthly pivot and the 61.8% retrace from the...
Financials still look extremely strong as well, making higher lows and higher highs. Pullbacks can very well offer long opportunities. We also may get some extension on it, since we just broke out. Depends on the overall market though, but the weekly chart looks great on this
This chart obviously looks very similar to the $ES. We briefly breached the 14400 level but quickly reclaimed it. But since then the push back into the underside of the 20d have shown strong resistance. And is it really any surprise? You have the quarterly/annual/monthly stacked pivots all in that same area as well as the psychological 15k level. What I would like...
It’s very important to always identify which timeframes we are extended on and which ones we are not. I do this by asking if we are extended from the 20sma or are we right on it? If we are far away from the 20sma, to me that signals that we are extended on that timeframe. It's pretty obvious on the monthly timeframe we are extended. Yes, there is substantial...
Tech has pulled back to areas of support and I will be watching to see if the recent lows hold from here. If they can, we may be able to put in a nice base here and have the potential for some nice longs in the sector.
Energy remains super strong and I still think it has the potential for more upside. You can see on $XLE that the $62 area is where I may think some resistance shows up. But if we pull back ahead of that, i still like the buying opps down around $51 (20d)
Kind of trying to possibly position for a swing, but think there are some day trades in here as well. Early weakness and I may look to scoop between 44.3 annual pivot and 43.8
Bitcoin. What I use to gauge the crypto currency market in general. I didnt expect this to be back at 48k so fast. The speed of this gets me thinking we’ll see BTC go higher. 53k is the first level of resistance. 40k is the psychological low level of support.
Strong name that had a deep pullback from the extension. Down about 15% from highs right into the weekly 20sma. Looking to scoop weakness with risk against Friday’s lows. 154.50-155 is the area I’m interested in. This has a lot of room to move back up if we are catching the turn here. I think 160 is possible the same day and 165-168 within a week or 2. Remember,...
Needs a deep pullback to get me interested, but i’m in no rush. 139-140 is the area I want to start considering it. It very well may push towards 145 where I’m hoping it finds enough resistance to send it back to my levels. Remember, in the bigger picture this could have a really move setting up if we finally get back over those highs put in back in May
Back to back inside days getting tight against the upward sloping 20d. Want to either buy a flush towards 113 with risk under Wednesday’s lows or if we push back above Friday’s highs then I will possibly look to build in long on dips as long as we can hold higher lows. Over 121 should send it.
Netflix has been on beastmode since we discussed the breakout of the long base. Looks ready for the next leg up after retesting that important 570 level. Would watch for a flush to psychological 600 level to hold. May even buy some calls on this for a month or so out. I think 700 is in the cards if the market can right itself.
You may recall this one from last week’s Sunday Prep in which it was a short idea. Well now that it’s coming in, I would love to play the long on it if it could speed up down into the 200d area. It very well may reverse from here though and if it does, I’ll most likely skip it. I want my area or nothing.
