SPY Gapping Back to Bullish... AgainAMEX:SPY
The top Indicator is showing bulls taking control and that matches up nicely with out trendlines. We completely avoided a heavy resistance area by gapping clean above it. The lower indicator is not yet as strong as I'd like it to be but the move is supported by other features displayed on the chart.
Calls
$TSLA Just in case you've been blinded and forgot the bigger picture. Been awhile since I've updated my long term Tesla chart for you guys.
btw I'm positioned long already, the entry for long term was honestly awhile ago. Just created this in case some people didn't get in yet and were interested in R/R from here.
Target: $1000 by Q1 2022, then $1500 by August 2022.
$TSLA | WEEKLY WATCHLIST 9/27My top watch this week! I am already positioned in shorter term calls (10/1 and 10/8) from last week. Looking to complete the wave 3 impulse around $793-795 before a minor retracement.
Ultimately seeing higher towards the $836 and $900 region.
**A BREAK OVER $780 IS CRUCIAL THIS WEEK FOR BULLISH CONFIRMATION**
$SNAP | WEEKLY WATCHLIST 9/27Absolutely TEXTBOOK example of how powerful my charts can be. Entered long the 80c 11/19 @4.7 on 9/22. Contracts are currently worth 9+!! Congrats if you played and please be sure to trim.
Although a monster move already, I see more to come. Possible we slow down and consolidate in this $80-84 region to build a base and explode higher to the $90 region. If we get a larger pull, I will take profits on my remaining position and look to re-enter in the future.
Ultimately looking for $100 target by the end of the year!
$GOOGL | WEEKLY WATCHLIST 9/27Another name that we called the bottom on perfectly. No changes since the last time I posted. Bounced exactly where I showed on the chart. Now, looking for breakout above the red resistance line. Please note the descending broadening wedge pattern which is BULLISH!
Looking to enter a long position on break above red resistance line to test $2900 and ATH.
$BA | WEEKLY WATCHLIST 9/27An extremely frustrating stock that feels like it's been bull-flagging forever. If you look at the previous trends, this stock has the tendency to drag out like crazy before exploding. Wave 4 looks to be in, bouncing off the 50% retracement multiple times and showing a complete ABCDE corrective phase.
As long as the $210 area holds, we should see a nice impulsive move up to the $300 area by December.
Actively watching flow and chart for potential long swing entry! Please view chart for in-depth breakdown of suggested play.
$ATVI | WEEKLY WATCHLIST 9/27This setup may take a little while to mature, but sharing now regardless. This setup is on my radar. Beautiful bullish falling wedge and bounce off the 50% retracement in wave 4. Possible this was the low, but want some time for the chart to play out and confirm more. Watching for a falling wedge breakout which would get me interested in a long swing setup.
Long term target: $100+ (mid 2022-2023)
$AMZN | WEEKLY WATCHLIST 9/27After calling the top and predicting the bottom, I'm feeling fairly good about this count. As long as the low around $3304 holds, I am looking for more upside to ultimately hit my $3782 target by November.
Please note we have not completely filled the daily gap yet.
Will look to go long over $3434.
$AMD | WEEKLY WATCHLIST 9/27AMD has been quite frustrating throughout this wave 4 pullback. Possible we see a breakout of this extended bullish falling wedge to play upside in the next 1-2 weeks. Looking to retest the $114 level, above that we get a larger breakout to ATHs.
However if we reject the falling wedge resistance here, possible we see waves D and E to complete an ABCDE corrective wave, rather than the proposed ABC above.
Will go cautiously long over $107.
$AAPL | WEEKLY WATCHLIST 9/27Watching for a move over $150 to help confirm that the wave 4 corrective phase is most likely complete. Will look to eye a long entry swing from there. Until then, will be on the sidelines since a further retracement to test the $139-140 level first is still a possibility.
Analyzing My Part Time Employer - UBERNYSE:UBER
Is a great way to make money part time, especially if you can do it to invest that money in to the market.
Why do I do Uber?
That's simple... I do not trade with money I cannot afford to lose. I love investing but I also love paying my debts. Unlike China... ok that was pretty weak.
Anyway... This demonstrates buying the wrong break out and what can happen if you are caught in that zone. The strength looks good with a massive upside especially in an economy where work culture is beginning to shift dramatically and the gig economy is becoming more of a household choice rather than a regular side job.
I am long on $UBER as long as regulations stay in favor of the gig economy, but is imperative that we break above our upper wedge resistance for a more sustained breakout move.
$AAPL | WEEKLY WATCHLIST 9/20Watching $140-144 for a solid bounce to complete the wave 4 pullback. Great swing play contender if the conditions are met. Please do note we lost minor support trend line last week, just to keep on watch. Must wait for bounce confirmation before entering because of the weakness shown last week.
Goodluck!
#NFLX | WEEKLY WATCHLIST 9/20Still some correcting to do before I want to buy in. Looking for a local top wave b to conclude and put in a wave c which should be buyable. Ideal buy will be around the $560 region. Will be on the sidelines until we test that region but worth keeping on watch.
Goodluck!
$ROKU | WEEKLY WATCHLIST 9/20My top watch this week. Way too much confluence at these levels for me to ignore the setup. Looking like we are bottoming out to complete the large wave 4 at the 50% retracement. Also, a very tight falling wedge looking like it's on the verge of breakout. Please refer to the chart for more info.
Goodluck!
SPY Not Showing StrengthAMEX:SPY
Yesterday I posted some trendlines for SPY that ended getting bought up in the morning. Today we are checking in with reality to see if the overall outlook is as bad as it seems. I'll be following these lines closely as well as our Lag RSi since we are showing overall weakness and further downside is very possible.