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Stocks Hit Our Profit Target!! 🥳Stocks have finally hit our profit target at 4462. This was a long time in the making and we've identified this as a profit target last month. The path to get there certainly was not quick, as the S&P has gradually drifted to this target, in contrast to the emphatic breakout we expected. We should see some resistance at this level, so some ranging is anticipated. From below, 4431 will provide support. The Kovach OBV is still very bullish so the run could still have legs.
FX:SPX500Long
by quantguy
1
Stocks Continue to Range 🥱We are still waiting for our breakout in stocks. All week, the S&P has been holding an extremely narrow range, and drifting up past our level at 4432. We are seeing a slow but steady drift, and volatility has consolidated immensely. We are due for a breakout either way. Our profit target from above is 4462. From below, 4408, 4389, and 4380 should provide support. The Kovach OBV was once quite strong, even with the consolidation, but appears to be tapering which makes us question if we may see a correction first before hitting our next profit target.
FX:SPX500Long
by quantguy
1
Bull Wedge in Stocks!!Stocks remain range bound by 4431, but it looks like we are forming a bull wedge with the upper bound just south of this level. Levels from below have been holding for over a week now at 4380, and we are currently seeing higher lows, and consolidating volatility. Price action seems to be consolidating around 4408, which appears to be a POC. The Kovach OBV is flat for the moment. Ideally, we would have a bull divergence here to anticipate a breakout. If we are able to break out from 4431, then 4462 is our next target. If not 4380 should continue to provide support.
FX:SPX500Long
by quantguy
Breakout in Stocks??Stocks are continuing to range. They have held the range between 4380 and 4431 for over a week. As we mentioned yesterday, the S&P 500 found support at the lower bound and has tended back to the upper bound, sitting just a few ticks below the upper bound at 4431. We will see today if stocks can finally muster the strength to break this level and acheive new highs again, or if they will continue to range. If we are able to break the range today, then 4462 is the next target. If we break down we will have further support from 4364 and 4350.
FX:SPX500Long
by quantguy
Stocks Continue to RangeStocks are continuing to range in their sideways corrective pattern. The S&P has been holding the range between 4380 and 4431 for over a week now. We rejected the upper bound yesterday, as we anticipated, which would have made for a nice mean reversion trade. Indeed, the S&P retraced the entire range, finding support at the lower bound. It is currently testing 4408, so watch for momentum at open to determine if we can test 4431 again. If so, the next target is 4462. If not, we should find support again at 4380, 4364, or 4350.
FX:SPX500
by quantguy
Amazon (AMZN) Analysis "Long-Term"Amazon NASDAQ:AMZN This profitable beast has been on fire for YEARS. Will the business be around in 5+ years? Absolutely. Amazon will continue to dominate. Shares took a hit after an earning disappointment (Don't let the COVID new cloud your thinking) and also they were also hit by a record $887M EU Privacy fine. The stock isn't going to "Tank" - as you can visually see, it's falling back into the range it's been in for the last 365 days. Shorting the stock would be a gamble (Long-term). Technically speaking there hasn't even been a lower high created - It's coming fresh off recent highs. It's range has been between: $3,000.00 and $3,600.00 (Some action happens around $3,400.00) The move here would be to play the range with a long-term mindset; which can be hedged with options. Seek buying opportunities while watching if that lower high forms. The $3,000.00 area line up with the 23%; which would be the next play. Further down there's major confluence on the 50% retracement ($2,600.00) with certain indicators lining up along with price action. A move that far down would be insane; but anything can happen. Strong buying areas are between: $2,800.00 - $3,000.00 (Previous Range) DCA Investment into the $2,600.00 Area (50.00% Retracement)
NASDAQ:AMZNLong
by UnknownUnicorn25387911
3
Stocks Trade SidewaysStocks rallied yesterday hitting our profit target to the tick before retracing back to the bottom of the range. The S&P seems to be in a sideways corrective pattern at the moment, finding good support at the bottom of the range at 4380. The Kovach OBV has dropped notably, so we will see at open if we have enough steam to hold the range. If so, expect a retracement at least to the mean at 4408 or so. Otherwise we will find support at 4364 and 4350. Our next profit target is 4462, which is garnered from the Fibonacci extension level of Fibonacci retracement levels anchored at the current range
FX:SPX500Long
by quantguy
1
Breakout for Stocks??The S&P 500 continues to range in a sideways corrective pattern. After its recovery from the dip and making new highs, this is a perfectly reasonable behavior and suggests that stocks may be gearing up for another breakout. We have held a very narrow range between 4389 and 4410. The more constrained the volatility in stocks, the more likely we are to see a breakout and today may be the day. Our next target is 4431. If we fail to breakout or continue the range, then 4380 or 4364 will provide support.
FX:SPX500Long
by quantguy
Stocks Due for a Breakout??After making new highs, stocks are trading sideways, which was our prediction from before. After recovering from renewed Coronavirus panic, the S&P had a V-shaped recovery and made all those losses back and then some, making new highs. It is reasonable for stocks to range or retrace after such a move. We should continue to see support from 4389 and 4380 but if not 4364 or 4350 should hold. Our next target is 4431. The Kovach OBV has dropped precipitously, suggesting that we will at least see more ranging at these levels before another burst of momentum.
FX:SPX500Long
by quantguy
1
Stocks Make New Highs!! What's Next??Stocks have broken out again to make new highs. We have fallen just short of our profit target of 4431. We have a cluster of red triangles on the KRI, indicating that the S&P is running into some resistance. We will see if it gets another burst of momentum at today's open or if we are due for a retracement. Such a retracement could take us back to support at 4389, or 4364. After making new highs it is reasonable for stocks to come up for air, unless we catch another bid at open. The Kovach OBV is strong but appears to be leveling off.
FX:SPX500Long
by quantguy
New Highs for Stocks!!Stocks have made new highs, finally reaching the target we set at 4408. We set this target before the sharp decline in stocks that followed renewed Coronavirus panic. However, the S&P made a V shaped recovery, and we have retraced this selloff and then some. We do appear to have returned confidently back to bull mode. We have established our next target at 4431. The Kovach OBV is strong, but has rounded off suggesting stocks may be coming up for air at the moment
FX:SPX500Long
by quantguy
ARK invest goodGreat opportunity here with ARK invest. Head n Shoulder now formed. The first wave of the daily EW was completed. Small retracement now to 142.55 giving a great buy opportunity with SL at 134.90. If you are a more conservative play on the resistance of the HnS neck. 189 the first target, looking to unlock some profit at that level, Final target 205, completing the 3 wave. This is a 9 RR, great play. Holding position 3- 4 months. I will share other opportunities soon...Few others are already at play. SHARE and spread the LOVE
AMEX:ARKWLong
by CFcryptoTA
Stocks Shrug off CoronavirusStocks have made an incredible V-shape recovery, completely shrugging off the entire meltdown we saw from renewed Coronavirus fears. We anticipated a comeback for stocks yesterday, but our targets were much more modest. We anticipated the S&P to test at least 4306, but it is now currently testing 4350. We are seeing a red triangle on the KRI suggesting we are meeting some resistance here, but after such a move this should be anticipated. We are nearing highs so stocks will likely range at current levels before considering a breakout. The Kovach OBV dipped to reflect the selloff but has gained considerable strength with the recovery.
FX:SPX500Long
by quantguy
2
Coronavirus Panic Smashes Stocks!! 😱📉Massive amounts of risk off sentiment poured into the markets which crushed stocks. We dipped as low as 4234, before a respite back to current levels in the upper 4200's. Currently we are sitting just below a resistance level at 4293. The Kovach OBV has turned sharply from its overwhelming bull trend to reflect the dump. We dumped almost two handles, from just below 4400 to the 4200's, so it is reasonable for stocks to come up for air and perhaps range at current levels. Another dump could take us back to lows or worse, there is a vacuum zone down to 4188 below. A recovery could take us back to 4327. It is likely after a few days at most that we will begin to make a full recovery. These bouts of panic don't last long and the Fed will likely make a statement to save the day if so
FX:SPX500
by quantguy
2