that is the fib of the most recent leg lower which started in August last year, not from the all time high. congrats to those who bought the dip. Big gap and run north tomorrow. That's why someone bought 8500 of those $24 weekly calls. Looks like the put buyers will get wiped out overnight
MACD histograms about to flip positing on the (65,90,12) hourly settings. These are M.Pring's settings for entry/exit. SLV gapping north tomorrow
$550 this afternoon. easy. push above $528.74 (yesterday's high) will trigger massive short covering
Weekly chart looking like a repeat of week ending October 14 2013, breakout of the apex of a symmetrical triangle. same pattern has formed again here, with a breakout this week to $570 target by end of week
MACD signal line is above 0 this time though, so the move higher could be much larger than previous.
The more I examine the daily, weekly, monthly charts, the more obvious it is becoming that a major leg higher is about to begin. It started today on a slight uptick in volume. It appears we are going to move aggressively higher in anticipation of a piece of news. That's what the market is saying
MACD histograms got a bullish shift in momentum last week. The high of last week was $534.75. Technicians mark the high of the week, and enter long positions when price moves above that high, confirming the shift in momentum. Price is going to aggressively move higher folks. Options market is currently pricing in a move north of $560 level this week. When AAPL buys Pandora, it will be a game changer. Market is only starting to price this in
12/23/13 was the start of the triangle. I think you are probably seeing the same pattern but maybe identifying it as a wedge, rather than a triangle. in a falling wedge, the resistance and support trend lines both slope down, but come to a point. this pattern is identified by lower highs and higher lows. the shorts will be caught off guard here
Do your own DD, but AAPL is currently breaking out of that consolidation triangle on the daily chart. weekly call options should finish in the money all the way up to $557.50
everyone was warned about SAFS this morning. hope somebody listened. up 47% in the afternoon. still room to run.
Anyone else notice the coiling of the moving averages on the hourly chart? I am using the 10 ema, 50 sma, 200 sma. They are stacked on top of each other now near .82 - .83. Price is ready for a MAJOR move. earnings/guidance a week away, probably means that move will be up in advance of this event. I'm telling you, look what PPHM did before earnings announcement....it was predictable, I posted about it the day before it happened. There is a similar move coming here. Weekly chart: bull flag formed. Those buying $1 puts will lose everything
price just tagged a major support trend line, going back to late December. daily chart is forming an inverse head and shoulders. This morning's low, should represent the low of the week. I am long, and adding call options this morning. Look for a move similar to PPHM last week. imo
back above the 200 day moving average and the start of a 3rd wave. weekly call options could surge more than 1000% this week. imo
holding weekly and monthly $21 calls.
Equities to retreat back down to establish a neckline most likely.
Sub penny play of the week. SAFS. love that chart
could re-visit that $3.20 high by mid next week. imo
'buy when you are scared to death'
'sell when you are tickled to death'
long SLV Mar 14 $21 calls
price just also backtested that parallel upward sloping price channel I highlighted yesterday on the 5 min chart. that was the low imo. look for a fresh high today
price just swung from the 50% fib at 3.09, back down to the 38% fib at $2.50 area. I don't think you will get any shares under $2.50
price just backtested very significant uptrending support line. nice retracement into yesterday's candle. I think that was bottom
It is hard to say how high the weekly chart could go. Maybe we saw the high for the week after hours tonight. I can't be sure of that yet. I really think the 50% fib will be tested at $3.09 level. it was tagged after hours, but could be retested tomorrow. It should act as a magnet for price action until Friday morning's news imo. But in even the strongest of uptrends, there is often bear traps set in the first hour of the day. tight stops are taken out and those buying after hours tonight might feel a little pain in the morning. and many will bail as I expect some minor retracement into today's candlestick. Many guys are coming out with videos after the fact on PPHM, I wouldn't trust them. This move was predictable by the chart, so if they missed it, I would just be careful with their advice.
If I had to make a prediction... if we take out $3.09, price will test the upper trend line on the daily chart which sits at $3.55
Sentiment: Strong Buy
gonna have to hold some over the weekend too. it could be hard if this moves to $4 on Friday.