Madrid

Madrid Wizard

Jan13: Head and Shoulders forming. The triple momentum divergence is the signature of the H&S pattern. Even though Earnings was good, the market reaction was not so good. If this is the case then this could fall as low as 12.63 where the 50% retracement of the rally is marked. Keep an eye on the rotation of the fast ribbon (orange) if the price doesn't go back...

Madrid Wizard

Jan09:Positive Momentum divergence. Support at 0.236 Fib (204), Still on the downtrend, but if this can hold this value there could be a leg that could reach the 0.382 Fib @220. Still too early to tell. If this support is broken then it can go as low as the 100% retracement at 177. The signal is a close above the 8 EMA.and rotation on the fast ribbon...

Madrid Wizard

JAN08: Downtrend has taken the price to the Lower Channel Support Line, there is a positive momentum divergence. Look for the 0.236 Fib level, it is Resistance @28, if it goes above 28, it may reach 31. The two words of warning here is that the first move could be just a short squeeze due to short covering at this level and the second is Earnings is scheduled on...

Madrid Wizard

DEC11:Inverted Head and Shoulders. If the Support above 204 can be maintained and enough buyers show up this recent drop can be recovered to the 208 level. It would be a good excuse to call it the Santa Claus Rally. Besides there is enough room between the 203 and 208 trading range. I used the 60 M chart This is not a long term position, since we are at the...

Madrid Wizard

DEC11:Today looks like a short covering day, once the short buy back is over this down leg will rotate to the upside and it can resume its uptrend. Oversold and at the lower channel support line in a descending wedge pattern. I am looking for a rotation in the momentum indicators and a break above the 22.17 S/R level to enter long. Target at 24, Stop @20.50

Madrid Wizard

DEC09:At the 23.50 Resistance Level. Above 55 and 144 EMA pair, in the green territory, Oversold with increasing momentum and officially reversing the trend to the upside. This year we didn't have the "Sell in May", we had the "Sell in April" month, and why not? last rally at the end of October was like too good, to the point that it makes me think we had already...

Madrid Wizard

DEC08:If the support at 33 holds and short covering starts then this could take this stock back to the 39-40 level. There is a positive momentum divergence between the early november level and the current price. But the momentum by itself doesn't make money unless it moves the price on its direction. Entering right here is risky and it would be catching a...

Madrid Wizard

DEC08:Multiple Tops at the 17.75 level, unable to break this historic level plus a weakening trend and a negative divergence make this stock to think it over before retrying the break above the 2011 levels. It looks like this will take a break before attempting a close above 18 again. It has support at the 14 level. I am bearish in the short term, looking for...

Madrid Wizard

This stock has been severely hammered and the drop from the 70's level to the 20's has ridden the stock to almost a 100% Fib. Retracement. However it is starting to show some positive signs. There is a momentum divergence between the low on Oct 15th and the low today. It is still too early to declare a Bottom, but the volatility and the ATR metrics on this one...

Madrid Wizard

Last L.O.W. level was at 103.79. The 101 level is where the .5Fib is reached and possibly a retracement back to 106 then it's up to buyers to jump in and take it up, or leave it and let the price fall back to the .5 Fib level again once the short covering is over.

Madrid Wizard

What we recently saw in BABA was just an up leg that didn't have enough strength to break to the upside, So far we have had four weeks in a row with Lower Highs. Bulls who rode the uptrend until 120 are still holding on hope ignited by the two uplegs we've had so far, which is a normal behavior, that uptrend was very good (80-120), reality today is that it has...

Madrid Wizard

Downtrend channel on the daily, Currently at the Mid Channel Zone. Trading Range 112-105. Above 112 it'll recover, below 105 downtrend continues. Target @105, Target 2 @ 101. Support on the 0.618Fib (105.88) above the 34 EMA. This level is key for a downtrend continuation. I expect a rebound on the 101 level since this is the 0.5Fib retracement level. I don't see...

Madrid Wizard

Technically speaking it is still an uptrend If this holds this level and enough buyers jump in then it will still have another leg to the upside in the 60m with a target at 260. The key is to maintain a level above 245. If the level is broken below 240 then it could go to the 237 or 230 support Long if Price >245,

Madrid Wizard

Another all time high for the SPX. Those are the good news, but the market is extremely sensitive at these levels because any minor 'correction' triggers a defensive response. We saw last month how the VIX jumped to its 0.236 Fib. Resistance level as soon as the SPX had a hiccup. After the fast trend in the SPX we were not even close to a correction, the fastest...

Madrid Wizard

Another all time high for the SPX. Those are the good news, but the market is extremely sensitive at these levels because any minor 'correction' triggers a defensive response. We saw last month how the VIX jumped to its 0.236 Fib. Resistance level as soon as the SPX had a hiccup. After the fast trend in the SPX we were not even close to a correction, the...

Madrid Wizard

NOV18: If support @111 is broken, next target is 105, where the downtrend channel Support line is and there are chances for a short cover bounce. If the downtrend continues keep an eye on 101, where the 50% retracement is located.

Madrid Wizard

REGN is doing a double top and it's at the Upper Channel Resistance level, If it is not able to break this level to the upside, then it will retrace to probably the mid channel line, and eventually if market in general falls it can go to the lower channel support line. There is a negative momentum divergence, which is the signature of a downtrend. Entry: 386,...

Madrid Wizard

BABA Must break above 120 otherwise this smells like the dreaded H&S. It is losing momentum and it has the negative divergences that appear with a H&S pattern. Unless this does something outstanding and goes above 120 my sentiment is Bearish on this one.