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IWM

Next Week's IWM, 21 Day Pivot Standard Deviation RangeLooks like the medium term bias is to the downside for small caps, as we see the weekly pivot (red solid line) fall below the monthly pivot (dark solid line) with AMEX:IWM closing below both. Both deviation boxes represent two standard deviations above and below the a moving monthly pivot. We may see demand in the lower deviation range if we fall to start off the week. A rally to start of the week will likely be met with resistance from our pivot points and a fresh downward move from the 21 day moving average. Investors that want to take advantage of this medium term bias could short volatility in the short term (June/July) for IWM using AMEX:TZA but bet bigger on long volatility in the longer term (September/January2025). Take any short term gains to the upside and hold onto your short thesis heading into the second half of the year, into 2025.
AMEX:IWMShort
by D1Finance
$BOTZ Robotics and A.I. ETF – Double Top or Shakeout?Looking at this weekly chart NASDAQ:BOTZ has made a series of higher highs and higher lows, the definition of an uptrend. It did, however, fail to make a higher high in the last few weeks. The question is, is this an indication of a double top and ready for more downside or is it just a shakeout waiting to resume the uptrend? I do not know the answer. I do like that it has been pulling back on light volume (no rush for the doors) and it just finished a 3 Weeks-Tight pattern. (If you look at the chart these are automatically calculated by the charting tool I am using and are marked with a white bar.) Looking back, you can see not all 3 Weeks-Tight lead to an uptrend. However, most of them do, so that is an edge, not a guarantee. I do not like shorting stocks, so I look for edges to go long. It seems to me that continuing the uptrend is the path of least resistance. I have set an alert at $31.02 which was Friday, May 31 high that went just over Thursday, May 30 high of 30.99. This is a weekly chart so you cannot see those candles, if you look you will see that Friday’s candle looks to be a price rejection to the downside. Should my alert trigger, I will look to go long with a stop just under Friday’s low of 30.35. And as always situational awareness is important to any trade. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:BOTZLong
by jaxdog
$TAN Solar Starting to Shine?AMEX:TAN ETF looks like it has started a nice move. I got in on this one May 9th as it broke above the downtrend line for the second time since the gap up May 3rd. It came close to stopping me out on May 21st, but it held above my stop. I was rewarded on May 22nd with a massive volume surge, due in part by the big move on $FSLR. It looks to me to be at an area that may prove to be resistance. I am expecting some consolidation here (just because I expect it, doesn’t mean it will happen). If it can consolidate a bit and then break above that area, I will look to add to this position. I have a two-thirds size now. I think it can run to the $54 area from here. All TBD. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
AMEX:TANLong
by jaxdog
$PYPL Higher Lows – Uptrend?NASDAQ:PYPL Clearly seems to have a lid on the upper end near $68. However, looking at the chart we have a series of Higher Lows beginning in February. There is a good chance that it will have a move to retest the $68 area. All TBD. I have an alert set just over yesterday’s high of $64.43. Should that trigger, I will open a position with a very tight stop just under 62.88, the most recent higher low. Let us see what happens. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:PYPLLong
by jaxdog
$XBI Looking to Breakout (Again)?AMEX:XBI Firstly, I may have an unhealthy attraction to this ETF. I have been in and out of this ETF a number of times over the last few months and overall, just a few $ profit. Having said that this has been basing Since January 2022. The longer the base the bigger the break, or so the Wall Street Axiom goes. It did breakout in February 2024 and quickly failed (I have a link below of my last idea). And there is another idiom: from failed moves come fast moves, and it did move quickly down. Now it is back to the original breakout “area” so this may have been a simple shakeout. Here is what I like about it now: It looks to have gotten support near the 40 Week MA. It looks to be regaining the 10 Week MA (Yellow) and is solidly above the 5 Week MA. This weekly chart looks much better than the daily chart. This is my plan, “if” the market is doing well this coming week and this moves above last week’s close of $91.18 I plan on opening a new position with a maximum stop below last week’s low of 87.68 which is about a 4% position risk. My thesis is that it can easily go back to retest the 103 – 104 area which would be about a 10% gain. My idea, your money. If you decide you like this idea, make sure that it fits with your trading plan on your timeframe. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Comments always welcome. Thanks for looking.
AMEX:XBILong
by jaxdog
$TSLA Reclaims All Major Moving AveragesNASDAQ:TSLA I have taken a full sized long position pre-market on CPI news coming in at to under expectations. I like that it has regained all major moving averages, and this gives me a very good risk reward entry. My stop will be below yesterday’s low of $174. It is even possible that I may close it out before that if it starts dropping today. All TBD. See chart for more details. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:TSLALong
by jaxdog
Opening (IRA): IWM July 19th 190 Short Put... for a 2.33 credit. Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. (This is actually at the 18 delta, but it was either the 190 or the 185 where I wanted to pitch my tent from a delta standpoint). Starting to slowly deploy third quarter rungs here in broad market (IWM, QQQ, SPY) while I piddle around with shorter duration higher IV sector ETF stuff.
AMEX:IWMLong
by NaughtyPines
$FSLR Entering Stage 2 Breakout?NASDAQ:FSLR I have been watching FSLR since Feb 27th earnings. It has been whipping around in a range but in doing so it has managed to keep putting in Higher Lows. The pure definition of an uptrend. They reported earnings again on May 1st and beat expectations. Their guidance was simply in line with future estimates. However, they have gotten several upgrades to Buy or Outperform in the last 2 days, most in the $220 to $250 range. I have started a full-sized position today with a stop just below the lower band of the current consolidation. “If” the market holds up I expect that FSLR will outperform and could easily run 20% to 30%. Only time will tell. For a true breakout to happen it will have to get above that flat line on the current flat base. However, I like early entries closer to the 20 EMA. If you decide this trade looks good to you, please make sure it fits your trading rules. My idea but your money. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
NASDAQ:FSLRLong
by jaxdog
$XBI Breaks Out of DowntrendAMEX:XBI I put this trade on yesterday morning as it broke above the short term downtrend line. However, I closed it near the end of day as the whole market was giving up its gains. (I did make a small profit). I am now back in it again as it regains the 20 EMA (green). My stop is just below today’s low which also corresponds with the 20 EMA. It looks like there “could” be resistance in the area it is trading today. I think if it can get over yesterday’s high, we could see it test the 50 DMA in red above. That is about $4 above where it is trading currently. All to be determined. I did have a trade idea on this back on March 17th. Link to that idea below. The chart I am using is the All-In-One LevelUp tool available here on TV. Check it out. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
AMEX:XBILong
by jaxdog
Opened (IRA): IWM June/July 182/180 Short PutsComments: Added at strikes better than what I currently have on in weakness, targeting the <16 delta strikes in the respective expiries paying around 1% of the strike price in credit to emulate dollar cost averaging into the small cap ETF. June 21st 182: Filled for 1.89 July 19th 180: Filled for 2.22 I also briefly looked at QQQ and SPY, but couldn't get in at strikes better than what I currently have on, so am leaving those positions alone for now.
AMEX:IWMLong
by NaughtyPines