dumb money now long this market. SPX monthly chart looks identical to the 2000 top.
big buyer of the 15.50 weekly calls yesterday
i would not short BABA here. very risky to the upside
I would not feel comfortable if I was holding short positions tonight. A powerful move higher is coming very soon.
last 23 trading days have formed a beautiful falling wedge. this is a bullish pattern, in that it resolves itself the upside. price is finding support near the May 7th low, also known as 'gap support'. Bears are looking for 'gap fill', but they won't get it.
if you connect the closing highs of March 5th and May 21st, that forms upper resistance line of this upward sloping channel that BABA is carving out. Yesterday's and today's low tagged the lower support line, which connects to the closing low on May 5th. We have an upward sloping price channel in place now. I expect a pop to $88.70 early next week, near the 38.2% fib retrace level. 20 day is above 50 day is above 100 day average. BABA is in early stages of a bull market.
Long $84 July monthly calls
good luck traders
that is what the chart setup is saying. gap and go. go ahead and bash this post, but you'll print it out and put it on your fridge tomorrow.
MACD (5,9,2 settings) ready for the bullish crossover. stochastic about to turn bullish. tomorrow should be a very bullish day for BABA.
go ahead and put that in your pipe...
push above $88 will confirm this breakout.
nice bullish flag, or high-base on the 5 min chart
Karen finerman is short now, and she is not a market-timer. double bullish divergence now present on the 15 min SPX MACD
15 min chart carving out a wave c. price should hold above 16.95 area. we will see big volume buying last hour today.
JACK has bottomed