Salesforce ( NYSE:CRM ) is making an impressive pre-market move, poised to kick off the day with a breakout from its pennant formation. By taking into account a measured move from the previous consolidation phase, coupled with a measured move from the onset of the formation, we can project a potential target range of $233-238. Interestingly, this aligns with the...
NASDAQ:AAPL is signaling the culmination of a wave 3 extension, suggesting a potential shift in the market dynamics. The recent surge to $195 demonstrated several signs of exhaustion, including a gap up on low volume, a DeMark sequential 9, and a bearish Harami candle pattern. These factors collectively point toward a corrective move. A retrace to the $170-175...
This months warning from NYSE:JPM extends their impressive win streak. You have made money if you've bought at any time that they've warned us of a downturn. www.forexlive.com
NYSE:NKE had a slight miss on EPS and a beat on revenue. They lowered their forward guidance and price took a measured gap down on open. Price has already teste the lower bound of the gap and the downtrend is likely exhausted. I'm looking at an entry ~$110-111 and the next level of overhead resistance at $116-118.
This chart compares the price of AMEX:XLE + AMEX:XOP to Gold/Oil. The gold/oil ratio is a simple measure that divides the price of gold (per ounce) by the price of oil (per barrel). This ratio represents the number of barrels of oil that can be bought with one ounce of gold. The relative value of these two commodities and can provide insights into market...
Background: NASDAQ:LOGI has been navigating a challenging few weeks. After a well-received earnings report in May that led to a significant increase in the company's value, June has proven less favorable. The announcement of CEO Bracken Darrell's departure on June 13, a downgrade by Citibank on June 14, and news that one of its controllers was being used to...
Will the most recent breakaway gap in NASDAQ:AVGO follow the trend of the next most recent small runaway gaps in its price trend? Gaps occur when the low price of the current day is higher than the high price of the previous day. The majority of gaps are filled over time, but a sudden gap fill usually indicates a trend reversal. A breakaway gap occurs at the...
NASDAQ:ULTA gapped down after lowering guidance in their recent earnings call. The current price completes the proportional gap down and brings it to the 0.382 of the uptrend from the covid low, as well as an area with strong volume support. I'm looking for an entry at $393, TP at $460, and SL at $358. Note that May 2022 was the last time that earnings guidance...
The SP:SPX formation over these past few months is beginning to look like an ascending triangle. These typically call for rising volume throughout the pattern, which we are not seeing. However, I'd like to see this break above the pattern before getting too comfortable.
NASDAQ:COST is a core position for me. It's a fundamentally strong company: • The company has a favorable track record of earnings beats, including yesterday's call. • It has a 15% five-year average return on capital. • There has been a consistent five-year trend of growth in both revenue and earnings. • The earnings have been consistently favorable. • Over...
M2 is getting a lot of attention, but is it really driving markets? M2 is the Federal Reserve's estimate of the total money supply including all cash hand, money deposited in checking accounts, savings accounts, and other short term savings. The rate of change for M2 over the past 3 years has been the steepest incline and decline in the M2 rate of change in...
NYSE:NOC reports on Thursday. It's still 15% off of its ATH. It's been in an uptrend and putting in HL and HH's this year. They beat on revenue and EPS last quarter. There have been a lot of down revisions to estimates, while NOC has a strong history of beating estimates. I'm setting up for a short term trade that assumes a beat. Entry at $472. Targeting...
NYSE:NEE reports this week. We can see some relatively dramatic price movements after earnings releases over the past couple of years. NEE and NEP missed on revenue last quarter, but were within EPS estimates. There is an underlying concern for the fallout from their campaign donation violation and sustained higher rates are not good for their growth model....
NASDAQ:MSFT reports after close this Tuesday. Everything that I see suggests that price is at an inflection point, and likely due to pullback. I expect that this earnings release will need to be a beat, communicate progress on AI, and provide strong forward guidance for additional upward continuation in the near term. While it's still 19% off of its all time...
NYSE:LLY reports this Thursday. The drop in early March to test the bottom of the uptrend was a great opportunity. Now it's at all time high, showing bearish divergence, and has a history of price reversals after earnings releases. I'll be looking for updates on their pipeline management, monjaro production and growth, and progress toward Alzheimer treatment....
COINBASE:BTCUSD has had a steady and impressive bounce back from the 4Q22 lows. I drew the majority of these trend lines in January and the price movement to find support and resistance within the upward and downward channels, and reversals at inflection points has played out with better precision than I could have hoped for. We can also see a relatively...
NYSE:MCD price is pretty far above the 34 and 50 day EMA and between the 1.272 and 1.414 fib extensions (blue boxes). That's where we've recently seen price movement become exhausted and reverse. I'm looking for areas in the green box ( HKEX:272 -284) for entries on a pullback.
NYSE:JPM Jamie Dimon is known for issuing dramatic market predictions. Should we listen? If you had entered the market on the day of any of these bold statements over the past three years you would be up or even right now.