Quantum-Computing Stocks Plummet After Nvidia CEO’s Caution
Quantum-computing stocks tumbled sharply after Nvidia CEO Jensen Huang offered a sobering outlook for the sector, estimating that "very simple quantum computers" could still be 15 to 30 years away 2025-01-12 21:03:15 +0000 UTC View Post
$SPY commentary is almost identical to that of the $QQQ chart I just uploaded so please review this chart when you have a chance.
Big decider this week will be how CPI prints, if it comes in cooler than expected then the market can release a sigh of relief and this could help the bulls at least make an attempt to recapture the 50 Day MA which has been lost at $594.
CPI is due out at 0830 EST on Wednesday morning.
This also signals the start of the banking sectors earnings re...
2025-01-12 20:51:57 +0000 UTC View Post
The $QQQ had shown relative strength compared to the $SPY for the last few months, as the price stayed in the rising wedge, above the 1 Fib at $510 and above the 50 Day MA but this was all lost this week and a lower low was made.
So the trend right now is in favour of the bears unfortunately and the bulls must step in this week to stop this momentum to the downside because the next target will be the 200 Day MA at $477 next and this fall will certainly be felt across the Tech Sector. 2025-01-12 20:44:12 +0000 UTC View Post
This is certainly something that needs to be paid attention to because $V has not been showing any weakness over the last few months and suddenly the 50 Day MA is lost this week and the price finished below this MA.
So it is moving in sync with the market, any rejection below this level and the 200 Day MA comes into play and this tells us that the market is concerned about consumer spending.
Right now, I would not sell out of a position here but a retest from below of the 50 Day M...
2025-01-12 20:38:53 +0000 UTC View Post
The plan remains the same here, the ideal place to hold for Wave 4 is always on the 0.38 Fib and this is where we would like to see support confirmed.
The 50 Day MA has moved up very well and it is at $365 so this is a level to watch for this week.
If it is not held then we can expect $355 to be tested next.....but I believe bulls should wait to add here once support is found because the market is showing weakness right now, so no rush, be greedy for support confirmation.
2025-01-12 20:35:46 +0000 UTC View Post
A very common theme this weekend is the price action losing the 50 Day MA support level, this is across the board on a lot of stocks in different sectors too.
Price has gone very close to the top yellow wedge line as well but again we want to see this level not held and the price dropping down into the Buy Zone at $84
The 200 Day MA is between the 0.5 - 0.618 Fib levels so this is the area of interest and a hold here would certainly encourage me to add after waiting patiently for ...
2025-01-12 20:31:05 +0000 UTC View Post
$SE finished the week retesting the 50 Day MA but we would like to see this level not flipped back to support and reject at the 50 Day MA and move down to the Buy Zone
We can also see that the 200 Day MA is in between the 0.38 Fib and the 0.5 Fib levels so this is an area of interest here for holders and those that want to add to their positions.
Ideally, the perfect level to Buy at is the 0.618 Fib at $67, once support is held.
This is not a buy for me unless a substantial ...
2025-01-12 20:28:38 +0000 UTC View Post
A clear flush down through the 50 Day MA this week as we have been waiting for, so I am very happy to see this happening, so we can add more in the Buy Zone before this runs away on itself
I did not trim this week because I was not as active as I would have liked, so I am happy to keep with my position and just add below $74.
Unless the 50 Day MA is recapturing quickly, I believe this can move down to the 200 Day MA in the Buy Zone next.
2025-01-12 20:16:49 +0000 UTC View Post
$NKE has lost its final Fib support level so the next test is the July low at $70.75 and the price action is very close to this level.
The Covid Low is at $60, so this is as close to the bottom as i'll call it and it would offer incredible value at this level with a substantial margin of safety as a long term hold.
However, I think drifting down in this wedge is the likely direction if $70 is lost
So still no hold or sideways movement here yet so no accumulation in a consoli...
2025-01-12 20:13:56 +0000 UTC View Post
A lower low has not been made here just yet but the chart continues to concern me and I am still leaning on $MSFT being in its ABC correction while being below its 50 and 200 Day MA here.
$400 level is still the deciding factor for me and a lower low below this level and I will call confirmation on Wave C then.
My plan remains the same with $MSFT, below $350 and I will add and would be happy to hold this for long term then.
2025-01-12 20:08:00 +0000 UTC View Post
Consolidation range looks to be under threat and if a lower low is made next below $18 then there is a possible large drop to the bottom blue line at $12 which was the 2009 Great Financial Crash bottom 16 years ago....yikes.
2025-01-12 20:05:29 +0000 UTC View Post
$GOOG and $AMZN have been holding relatively well and the price action finished here on the green line at $193 to end the week but on the upside of the bullish wedge too
So bulls are in control here and the price is also comfortably above the 50 Day MA too.
Continue to hold your position and if there is a Melt Up scenario for the market, $GOOG above $193 and holding seems like a nice position to add to catch this rally.
2025-01-12 20:03:25 +0000 UTC View Post
Very happy with the chart here, no changes for the last few months and the 50 Day MA has now been lost too.
I still expect a drift down to the Buy Zone next over the coming weeks/months and it would be attractive to add at or below $100 once support is held.
2025-01-12 20:01:13 +0000 UTC View Post
$BTC and the US Market continue to mirror each other and both are below their 50 Day MA right now after a rejection below this level on Friday.
A lower low has also been made here too, so the bears are in control right now.
It is also a long way down to the 200 Day MA at the 0.38 Fib right now at $72.7k which is the typical level to find Wave A completing of an ABC correction.
Right now I believe the market is guiding crypto, as there was very little momentum change over the...
2025-01-12 19:59:26 +0000 UTC View Post
We are still not seeing any momentum towards a reversal here yet and the price effectively finished on the 0.618 Fib but below the 200 Day MA to finish the week.
Again the bulls will need to attempt to recapture the 200 Day MA at $84 next, otherwise, any rejection under the 200 Day MA or the 0.618 Fib and the 0.78 Fib then comes into play on the blue line at $70.
$BABA is a hold for me for 2025.
2025-01-12 19:50:28 +0000 UTC View Post
$AMZN still remains the best looking set up out of all of the Mega Caps now for me....with $GOOG a close second.
The $220 support level was lost this week so this is the concern but bulls can fight another day for the $220 level starting tomorrow.
Price is still in a bullish formation and still above the 50 Day MA, so I am not adjusting my position until I see a bearish trend confirmed below the 50 Day MA
Until then, I will let the bulls battle to regain the $220 level.
2025-01-12 19:48:13 +0000 UTC View Post
$ABNB could not start its new impulse wave and decided to pull back for another retest of the 0.5 Fib, for me right now this needs to show support before considering a buy here.
A lower low is likely next for $ABNB in this set up and the 0.618 Fib would be the next test level at $124.
Only then do I believe a new impulse wave can start once support is held.
2025-01-12 19:45:57 +0000 UTC View Post
We will see on the charts uploaded today that there was considerable weakness shown on Friday across the board for the market and the Mega Caps and it should be putting us on alert for the week ahead.
$AAPL lost its 50 Day MA and went below the ascending triangle, price managed to hold just slightly below the blue line at $237 to finish the week so the bulls must start strong tomorrow and try to recapture this level, any rejection here and a lower low and the next target is the 200 Day ...
2025-01-12 19:43:56 +0000 UTC View Post
This is just an observation because I wanted to see how far the price action has gone above the 200 WMA in the last 24 years, and the highest breadth between the two was in 2021.
And their similarities is uncanny, as they are both identical right now.
Again, it is just something I am watching
TWEET:
$QQQ the breath between the 200 WMA and the Top in Nov 2021 is EXACTLY the ...
2025-01-12 12:12:22 +0000 UTC View Post
$TSM reports before the market opens on Thursday and it is one of the first Mega Caps to report and a vital link for all of the Mega Tech companies
$TSM makes chips for: $AAPL, $NVDA, $AMD, $AVGO and $TSMC
So if they announce a solid report and guidance, this will certainly set a positive tone as they will likely already have their orders at the very least for the next 3 months from these companies.
The chart has not changed and the Melt Up scenario Wave 5 level is still at...
2025-01-12 11:59:11 +0000 UTC View Post
This is a significant gear change for US OIL.
However there is no changes to this US Oil chart, this is what we have been using for the last 2 years.
We can see that there has been a breakout to the upside out of the wedge, which is also a breakout above the 200 Day MA $75.45.
So holding above this level now and US OIL can move to the upside as shown.
Could we be talking about Oil in 1 years time and say; 'Of course Buffett was right all along'
2025-01-11 18:45:29 +0000 UTC View Post
Banks and the Financial Sector dominate the earnings this week and the seasons officially heats up when these guys are reporting
They will give us a first glimpse into how they see consumer spending over the next 3 months and listening to their guidance will be important
$TSM also reporting before the market opens on Thursday will be important for the semi sector too, they can set the tone, I will aim to add a new $TSM chart this week as well.
2025-01-11 18:31:09 +0000 UTC View Post
Silver is guiding us.
We can see in March '24 that Silver jumped from $22 to $32 in 3 months, a +30% jump for a safe haven like Silver is astronomical and it jumped because in April '24 the market had originally expected the FED to Cut Interest Rates, so the market anticipated this.
And in April/May inflation rebounded slightly and the market factored in that Rate Cuts would be delayed until Sept, so the price has drifted sideways since then, staying around the $30 level....sidewa...
2025-01-11 18:19:40 +0000 UTC View Post
With $ETH's current set up and rejecting at the $3700 level, I find it hard to see any other set up right now and believe the price will make a lower low and come down to the 200 Day MA between the 0.5 - 0.618 Fib range.
I have already decided that my $ETH position will not be touched until a new all time high is made, so any movements under this level will just be held.....and I will only consider adding again and not trimming.
Holding on the 200 Day MA at $3000 is attractive to ...
2025-01-11 13:53:29 +0000 UTC View Post
$PEP continues to pull back and is on a strong course with the 0.618 Fib at $137, significantly below its 200 WMA at $168 too.
With a dividend of 3.8% this is a very attractive safe haven at this level and it is a genuine coin toss between $PEP and $KO right now, at $137 here or at $60 for $KO....both companies are equally as strong as each other.
Wait for support to be confirmed at $137 and then consider a position.
The root of the problem on Friday is very clear, this US 10 YR.
It aggressively pushed higher and it also does not look like the pain is over right now.
It is hard to see how the US 10 YR does not make it to 5% next which is also the high from October 2023 too.
Going above 5% and we are back to 2007 levels....and we know what happened directly after that.
The red flags we have been concerned about are getting brighter and more concerning, this is clear as day
Th...
Clear rejection at the 50 Day MA at the 0.38 Fib at $15 and the price pulled back on Friday, I have added in the green fib support levels to show where we would like to see a higher low in order to confirm a new impulse wave count.....we can see that the price finished Friday just above the 0.618 Fib, so far then we have a standard impulse wave forming now but we want to see a hold now between $13-$14 and signs of a higher high and higher lows next
This will also allow us to buy again.<...
2025-01-11 13:18:45 +0000 UTC View Post
This inverse head and shoulders pattern is not pretty but still valid and can still bring the price action back above the $141 level and to the Wave 5 target at $160
That being said and I'll discuss this at length tomorrow but the $SPY chart is not looking pretty now....we spoke during the week about testing the 50 Day MA from below and what would happen if the price rejections here and it has now....so this is a concern for the market for next week, so the bulls will need to start Mond...
2025-01-11 13:11:05 +0000 UTC View Post
Big flush down at the opening yesterday and below the 0.618 Fib but did not touch the yellow bottom line in the descending wedge, strong recovery then and where did the price action finish the day?....exactly on the blue line at $25.41....not one cent higher or lower but exactly on the line we have been monitoring since June
So we know for certain that this is a significant support/resistance line.
$HIMS did show strength against a difficult market on Friday and what holders need ...
2025-01-11 13:05:05 +0000 UTC View Post
I wanted to add the $AMD chart earlier than tomorrow because I know a lot of members are keen to hear my thoughts on the price action from yesterday
But I think many members will know what I am about to write:
Price action did flush down yesterday due to Goldmans downgrade to $129 from $175, and the price action flushed down exactly to the 200 WMA to the cent at $114.45...and finished the week at $116.04
The Buy Zone has been at this level for some time and there is no chang...
2025-01-11 12:56:20 +0000 UTC View Post