Woo:
2:38 pm EST
SPX 6 month:
We cracked the trend line for the wedge, but we didn’t break it on the RSI resistance. This is not enough momentum at the moment to break north. When that RSI cracks, we’ll get a solid rise probably above the 1100 area. Possibly 1106, which was a projection for SPX last week.
Idan:
12:03pm
Ford (240min) could be getting ready to break out, i think it is a buy on any strength in the market with a massive inverse H&S formation with a neckline between 11.96 and 12.05. I’m considering buying it around these levels:
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10:56am
JPM getting ready to bust right through it’s $39.55 resistance, i think it’s worth buying at that point with a stop right below. Here’s a 60 minute to make it easier to see why 39.55 is such an important level:
10:50am
We definitely have a clear break of the descending channel formation now… and the next resistance on the SPY is going to be at $110.00
12:16am
The SPY 60 minutes chart is below. Even though yesterday’s action was nothing short of extremely bearish, in order to confirm that we have topped out and are moving to wards the 104.70 level, we have to make a new low (below 106.06-106.20). The bears have to use the momentum into their favor and start breaking down important levels or else we can still rally from the 106.20 level and go higher.
Amzn is ready to collapse (or so it seems). Even though i believe that on the daily a close below 116.20 would mean the start of strong downside and a chance to fill in the gap all the way to the high 90s, The real preemptive trade would be to short it under 117.50 (note it closed below, so we could gap down), as 107.50 on the 60 minute has been incredibly strong support, and closing below it could be a very bearish set up. In any case, you should make sure your stops are not too far away (not more than 0.5% away for this trade):
Idan,
I sent you an email asking about ISRG. Would you please give me an analysis on ISRG. I have plan to go long on this beacuse I think big boys are there. Would you see if techinical is supporting for an expolosive move higher.
SWBB
Idan,
Patience is a virtue!!!!
Technical analysis could work depending how patient one is!
It seems the charts say AMZN will hit $94 to fill the gap…do you think it will happen in the next couple of weeks or will it take a month or so?
thanks!
yes, the odds are it’ll will want to fill that gap…but when is always the Miliion $ questiion. This is where the market will wear you out if they can’t rob you blind, so perhaps patient is key as you suggest.
IMHO if it goest back to around $115 time to short/buy puts. I think come late August thru October we could see the markets tanking and the high PE flyers with it like AMZN, NFLX etc.
Does anyone foresee a gap up tomorrow based on price action on the close as well as after-hour earnings from MSFT?
F.A.O ALL BEARS
i have spoken to BEAR BOSS , and he tells me all bears are on holidays in the sun ,
so move up is coming , you can go long if you want but very dodgy as an attack on the u.s by taliban could gapdown market 10% ,
NWO have give instructions to CNBC , GOLDMAN and MORGAN to pump up markets to suck in retail and bull traders ,up targets for spx are 1130/1150
cya when all bears are off hols and recharged !
GOOD LUCK