since the beginning of this year, AAPL has entered a new bull market. the bear market was about a 30% drop over 39 weeks. now we have the characteristics of a bull, stairs up elevator down. we're finding support just above the 200 week moving average. that is where we found support in 2013. congrats to those who are buyers here. in the next few years, this is headed to $170
don't try to short here. she's gonna pop another 2% tomorrow, and make a run at the 38.2% fib, just north of $100 in the coming trading days. just get out of the way and let it happen. I would sell upside calls when AAPL tests 100 level, but I anticipate the selloff from there will only establish a higher low.
I was also able to spot the bottom in IBM and FTK, accumulated call options in both the day they bottomed. loaded TWTR call options yesterday. LONG TWTR, from $14.05
MACD signal line about to cross below zero, VIX ready to breakout to the upside. a 38.2% fib retrace is needed. don't ignore this head and shoulders pattern. 20 day moving average now acting as resistance. price needs to go lower over next several days. market will probably throw a tantrum before the Fed statement tomorrow
bulls have lost momentum. SPY 210 level will soon be confirmed as a major top. check out some different MACD timeframes
the (5,9,2) settings, used by many advanced traders, now sporting triple bearish divergence. signal line has already gone below zero, and macd is about to turn back down below signal line. this will result in a large red candlestick.
longer term Pring settings of (65,90,12) about to get a bearish histogram tick, or a bearish macd crossover. this gave the long term buy signal on feb 26th but is now about to switch to a bear signal.
slow stochastics making lower highs and lower lows, about to get comfortable below 20 soon. It appears that the selling will accelerate last couple hours of trading day today, and into tomorrow. if SPY 204 breaks, the robot trades could really get interesting. could be a trap door down to 198
this pattern that I flagged several weeks ago has played out. an elevator move down is coming
s_t I am not familiar with the coppock curve. what is it telling you? I specialize in using the 3 different MACD settings of 12,26,9 5,9,2 and 65,90,12. in addition to the slow stochastic.
bulls have lost momentum. two patterns in play here. we have a breakdown and backtest of a symmetrical triangle. we also have a head and shoulders top. price is getting comfortable below the 10, 20, and 50 day moving averages. the 100 day is below the 200 day. we need a 38.2% fib retracement, at least. that is near SPY 199, which is also in the area of the 100 and 200 day avgs. the macd (12,26,9) signal line is about to move below zero. we're looking for a very large red candlestick next week. price weakness probably gets started pre-market Monday, with weak European economic data
holding 5/27 207 puts
99% of option traders lose money because they let FEAR and EMOTION creep into their trading. I am guilty of this hundreds if not thousands of times over the past 7 years of my trading. For instance,Friday's price action should have scared me out of my shorts and put me back into cash or maybe even into SPY calls going into the weekend. but that's not what my inicators are telling me. did you notice that MAX PAIN for last week put/calls was SPY 205.5? SPY closed at 205.49. this is not random. so far we've seen a 5 wave move down followed by a 61.8% retrace. then we saw another 5 wave move down followed by a 50% fib retrace. so that leaves us where we are now. does this head and shouders fail? I don't have a crystal ball. but I will trust my momentum indicators, and they tell me to hold my shorts.
all of you weekly upside call buyers get completely wiped out tomorrow
i'm looking for a large gap lower tomorrow. looks like VZ put in a top today. where else to hide besides DG and precious metals.
this market wants a sign of economic growth. this outweighs risk of 1/4 point rate rise. shorts get slaughtered tomorrow. nice complex inverse head and shoulders pattern over the past 8+ months. cnbc chartists have failed to point out this pattern. most of them are a bunch of hacks
money will flow out of bonds and in to equities. the bond market bubble will burst now