$PLTR Bull ThesisI like the chart on this one.
Might retest 11-11.50 support before climbing its way up to fill the gap.
I would like to see this one hold the 12$ area, create a new demand zone there.
If the war doesn’t escalate (I genuinely hope so) I think the market priced in the rate hikes. So we might get a direction soon.
Good luck traders!
IWM
RTY MFI OversoldRTY MFI went oversold and now bouncing up. Indication of a melt up when RSI doesn't go oversold.
Odd thing is about half my board is red even though small caps are up 1.5%. That's really unusual, but looks like the garbage stock dump is done for the day.
Gotta headache so heading back to sleep, good luck
Small-Caps Are Soon Looking To RallyWe have a Double Bottom at the 800 Day Simple Moving Average and at the PCZ of a Bullish ABCD and are trying to break free from a Downtrend we've been in for the last several weeks if all goes as expected we will rally towards the 200 Day Simple Moving Average up near $2,220
$IWM Prepares for massive selloff following global crisesBearish Midterm...Will keep a track of this to see how it does.
$SPY $IWM Looking to make a cliff dive downwards in coming weeksBearish Tracking. Have bought puts looking for the market to crash in the coming days to weeks due to the surge of negative data out there and various niche markets crashing.
IWM RST drown in 2021Will be interesting to see if this level is support for a while. Also the RST I drew last year sure worked , wow if it sees the high line.
2/27/22 ONON Semiconductor Corporation ( NASDAQ:ON )
Sector: Electronic Technology (Semiconductors)
Market Capitalization: 27.464B
Current Price: $63.50
Breakout price: $65.35
Buy Zone (Top/Bottom Range): $60.30-$55.40
Price Target: $72.00-$73.40(1st)
Estimated Duration to Target: 49-54d
Contract of Interest: $ON 4/14/22 65c
Trade price as of publish date: $4.05/contract
2/27/22 CCJCameco Corporation ( NYSE:CCJ )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 9.085B
Current Price: $22.81
Breakout price: $22.95
Buy Zone (Top/Bottom Range): $22.10-$20.55
Price Target: $26.40-$26.90 (1st), $28.30-$29.00 (2nd)
Estimated Duration to Target: 46-48d (1st), 90-93d (2nd)
Contract of Interest: $CCJ 4/14/22 24c. $CCJ 5/20/22 24c
Trade price as of publish date: $1.48/contract, $1.80/contract
2/27/22 CVSCVS Health Corporation ( NYSE:CVS )
Sector: Retail Trade (Drugstore Chains)
Market Capitalization: 136.895B
Current Price: $104.30
Breakout price: $104.50
Buy Zone (Top/Bottom Range): $104.40-$100.45
Price Target: $100.40-$102.00 (reached), $112.80-$113.90 (2nd)
Estimated Duration to Target: 107-112d (2nd)
Contract of Interest: $CVS 6/17/22 105c
Trade price as of publish date: $5.20/contract
2/27/22 FCXFreeport-McMoRan, Inc. ( NYSE:FCX )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 67.415B
Current Price: $46.34
Breakout price: $46.00 (hold above)
Buy Zone (Top/Bottom Range): $44.45-$41.10
Price Target: $45.90-$46.20 (reached), $56.00-$57.60 (2nd)
Estimated Duration to Target: 100-107d (2nd)
Contract of Interest: $FCX 6/17/22 60c
Trade price as of publish date: $1.16/contract
Rolling (IRA): IWM March 4th 185 Short Put to April 8th 175... for a 1.58 credit.
Comments: With 7 days to go and with the short put at >50% max, rolling this down and out to the April 8th 175 strike, which is paying around 2.10. I've collected a total of 4.08 in credits relative to a current price for the 175 short put of 2.05, so have realized gains of 2.03 ($203) so far.
$IWM — Potential H&S forming on the 1hr We can either go lower to fill that open gap right off the bat...
or
We're going to go a bit higher to form the second shoulder, creating the H&S with a downside target of $193...
Either way, that gap is filling — not sure if it will today, but likely for next week and for certain before March's 3rd Friday.
The StochasticSlow is looking overbought, and the CCI is hinging lower just under that momentum line — bad sign for the bulls, if you ask me.
2/21/22 MSFTMicrosoft Corp. ( NASDAQ:MSFT )
Sector: Technology Services (Packaged Software)
Market Capitalization: $2.159T
Current Price: $287.93
Breakdown price: $286.00
Sell Zone (Top/Bottom Range): $297.00-$312.00
Price Target: $276.00-$274.40 (1st), $233.00-$230.50 (2nd)
Estimated Duration to Target: 28-30d (1st), 68-71d (2nd)
Contract of Interest: $MSFT 3/18/22 280p, 6/17/22 260p
Trade price as of publish date: $7.20/contract, $9.97/contract
2/21/22 TSLATesla, Inc. ( NASDAQ:TSLA )
Sector: Consumer Durables (Motor Vehicles)
Market Capitalization: $885.695B
Current Price: $856.98
Breakdown price: $850.00
Sell Zone (Top/Bottom Range): $900.00-$965.00
Price Target: $778.00-$762.50 (4th), $690.00-$678.00 (5th)
Estimated Duration to Target: 28-30d (4th), 68-71d (5th)
Contract of Interest: $TSLA 3/18/22 800p, 5/20/22 750p
Trade price as of publish date: $34.11/contract, $55.40/contract
2/21/22 BLDRBuilders FirstSource, Inc. ( NYSE:BLDR )
Sector: Producer Manufacturing (Building Products)
Market Capitalization: $13.734B
Current Price: $71.72
Breakdown price: $67.00
Sell Zone (Top/Bottom Range): $68.50-$73.00
Price Target: $64.20-63.00 (2nd), $56.00-$54.40 (3rd)
Estimated Duration to Target: 27-29d (2nd), 60-63d (3rd)
Contract of Interest: $BLDR 3/18/22 70p, 5/20/22 70p
Trade price as of publish date: $3.40/contract, $6.30/contract
2/21/22 SPYSPDR S&P 500 ETF Trust ( AMEX:SPY )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $ -- B
Current Price: $434.23
Breakdown price: $429.00
Sell Zone (Top/Bottom Range): $448.00-$457.00
Price Target: $422.20-$420.10 (1st), $384.20-$382.00 (2nd)
Estimated Duration to Target: 14-17d, 48-50d
Contract of Interest: $SPY 3/7/22 420p, 4/14/22 400p
Trade price as of publish date: $4.20/contract, $7.03/contract
IWM weekly supply and demand zone Weekly demand& supply zones :
Zone 1 : 186/187-200-210
Zone 2 : 210-226/230-240
Rolling: IWM March 18th 199 Short Straddle to April 1st 201... for a 2.34 credit.
Comments: Locking in some realized gains (.72/$72) here by rolling out a smidge early to at-the-money with 28 days to go. Total credits collected of 15.14 relative to the April 1st 201 short straddle price of 16.07, so still a little underwater at the moment.
Wyckoff Distribution + InflationThe IWM has completed It's classic Wyckoff Distribution and we are now at Phase E. The target is 170-169 where we have found support.
This is a warning for the entire Stock Market to abandon ship while you still can.
The IVM is the Titanic and has hit the ICEBERG. We don't have enough boats to save everyone. People will be left on the ship stuck at all time highs holding the bags.
"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists."
Ernest Hemingway
This post is not Financial Advise.
IWM is going down and taking the SPY with it!From what I see is utilizing the fib retracement from the 2020 low to the top of you can see great support and resistance . Ironically looks like it's going to flirt with the 0.618 fib retracement level. IWM is on it's way down and I see it filling the gaps that I circled. Along the way the SPY is mimicking the movement of IWM , so I see more downside for SPY as well. I'm waiting to deploy my money around the 155 zone for IWM . I will watch for a bottoming for SPY around that time as well. If you're able to utilize puts this could be a good idea. I'm in the TSP so that is not an option for me currently. I'm in the G fund awaiting the best time to enter. Good luck all!
Rolling: IWM March 11th 199 Short Straddle to March 25th 201... for a 2.95 credit.
Comments: Rolling for a small realized gain here at 21 days until expiry. I've collected a total of 15.05 in credits relative to the current March 25th 201 short straddle price of 15.46, so the position is still a smidge underwater. Current break evens: 185.54 on the put side, 216.46 on the call.
Markets are topped out on macro renko charts, good luck. The chart speaks for itself; there are obvious fractals on the bull and bear legs. they keep getting bigger as well in pattern. Volatility is expanding the X-axis like crazy; and bear moves are even more volatile in such conditions. Things could get very steep. I pasted inverted, expanded, copies for a future plot. Good luck.
