Higher high now and there is no denying how good this is looking right now
No changes to the chart either, next test would be breaking above the post earnings +33% bounce at $34.60, if this can happen next then the 200 Day MA can be tested next at $36.70
The Wave 3 target remains at the 1.618 Fib at $46
I am not seeing a lot of concerns right now in this set up.
2025-03-17 16:29:30 +0000 UTC
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Big test coming up now as the price touches the $100 level and the channel top line which has been in place since October 2023.
A break and hold above $100 and the next target for me is the 1.618 Fib at $124.
In the last update we talked about the need to make a higher high and then we would expect a test of the channel top line and this has worked out great for us
Now we wan...
2025-03-17 16:18:19 +0000 UTC
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This is just a quick update because I know many will already know what I am going to say
But we can see that the price action is still comfortably within the wedge and the recovery today has brought the price back up to the 0.5 Fib again at $12.89.
No support is confirmed yet and no reversal is confirmed yet, we still need to sit pretty.
Fundamentals have not changed and it is...
2025-03-17 16:13:01 +0000 UTC
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Moving very well again today and I believe that we are close to confirming that Wave C is now complete and we are looking at the start of a new impulse wave.
This is one of the advantages of a potential Wave 4 breaking down which is what happened this month post earnings after a violent drop, this can expedite the corrective wave and fast forward to starting a new impulse wave....another ...
2025-03-17 13:47:29 +0000 UTC
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$NIO has been moving well and I was particularly happy with the breakout last week of the channel, followed by a breakout above the 200 Day MA, a retest of the 200 Day MA from above and the bounce that followed.
What we want to see is a continuation next now to a higher high above $5.32 and holding.
Holding above the $5.32 level is important as it has been a resistance level since ...
2025-03-17 13:29:25 +0000 UTC
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$PLTR has got its firm bounce on the $79 level on 0.38 Fib and has broken above the 50 Day MA in the PM now as more partnerships have been announced.
A hold above the 50 Day MA today at $87 and $PLTR can continue moving higher to our Wave B range between $100 - $105, where I believe a rejection will come before moving down to complete Wave C.
Some may believe that this is Wave 4 com...
2025-03-17 13:22:32 +0000 UTC
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$HIMS is up +2.5% in the PM which does pop this out of the descending triangle, we can see on the chart that the 50 MA on the 1hr chart is just at this level too at $34
We can also see that the 50 MA on the 1hr chart has been aligning nicely with the wedge top line too since the start of March.
So a break out of the wedge and above the 50 MA at $34.35 and this is a bullish indicatio...
2025-03-17 13:12:23 +0000 UTC
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A lot of eyes on $NVDA this week, there was a strong response last week on the 0.78 Fib level at $104 and the price has jumped back into the ascending triangle and running to the 200 Day MA, this is what I want to see from a lot the Mega Caps and the market too.
I believe this can happen....pending no big surprises from the FED on Weds when they decide on Interest Rates.
A flip of t...
2025-03-17 10:40:35 +0000 UTC
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I like the confluence level now of the blue support line and the 0.78 Fib at $44 and holding.
We highlighted this level when we first started to cover $TEM too when Nancy Pelosi started a position, so it is not a surprise to see that this is the important level now to hold.
I believe once the price can hold above $44 then the next test will be the 50 Day MA perfectly aligned with th...
2025-03-17 10:30:07 +0000 UTC
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Price has been consolidating for 12 months now above the 0.5 Fib and the 0.618 Fib levels, it has been moving slow but the structure has stayed in place and the price continues to test the 200 Day MA from above now at $187 and continues to hold.
$ZS has not been following the market or the other tech stocks, so I believe in terms of risk v reward, this looks good if the price action can c...
2025-03-17 10:22:16 +0000 UTC
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Price is still looking bullish in this triangle after pulling back in 3 waves to the 0.5 Fib at $93 and holding support and has now bounced.
Price is just testing the 200 Day MA now for the last week at $120, a flip and hold of this important MA and $PDD is in a good position to move higher and test the top of triangle next at $140, above this level and the Cup and Handle formation can co...
2025-03-17 10:16:20 +0000 UTC
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$TMF is the 3 x Bull leveraged $TLT, I never recommend anyone buying leveraged positions but I know many members do and I need to facilitate everyone....and many members did benefit greatly from $YINN which is also a leveraged position.
All things considered, $TLT is a low risk position, so if you must use leverage on any position....this probably would not be one of the worst.
Pric...
2025-03-17 09:19:25 +0000 UTC
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I am a fan of $SIRI and have been considering a position but I want to see a breakout of the descending wedge and holding and this has not come yet.
Bulls are looking for a higher low now and I have added in the amber support levels to show where it needs to come in.
Price needs to hold above $21 or the price action is at risk of moving down the descending wedge further and a possib...
2025-03-17 09:07:10 +0000 UTC
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Negative reaction this month to a double beat on earnings which confirms that $ADBE is still in its corrective pull back.
We can see that there was a bounce on the 0.618 Fib at $413 at the start of the year and bounced to the 0.5 Fib at $457, before rejecting and pulling back to making a lower low now.
This has been a strong flush down post earnings too, which is a typical sign that...
2025-03-17 08:58:53 +0000 UTC
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Inflation Cools, but Risks Remain; China’s Two Sessions Focus on Growth
Key Developments in Inflation Trends
February’s consumer price index (CPI) cooled more than expected, with headline inflation falling to 2.8% from 3.0%, easing stagflati...
2025-03-16 21:08:07 +0000 UTC
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I have wrote a number of long commentaries this week on the market and the $SPY, so I hope everyone is up to speed at where we are here and what we are looking for, if you are still confused then please read our previous $SPY chart for a very long commentary, where I talk in detail about what I expect next and its implications.
In Short, we want a test of the 200 Day MA from below next at...
2025-03-16 21:05:29 +0000 UTC
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Friday offered a very well needed relief and some optimism leading into next week.
As with the $SPY chart which we have been glued to this week, I believe $QQQ can also retest its 200 Day MA next at $493 and how the price action behaves at this level will tell us all we need to know.
If there is a failure to recapture this level and a rejection then we must assume that the pull back...
2025-03-16 20:59:46 +0000 UTC
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$V has been a beacon and continues to guide us, we have 1 wave pull back so far and I believe this will complete 3 waves to complete Wave 4 as shown.
A relief bounce above the 0.23 Fib at $321, followed by a further pull back to the 0.38 Fib at $293 is the standard direction from here.
This is likely not a good signal to the market for 2026.
2025-03-16 20:55:40 +0000 UTC
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$TSLA has been one of the weakest performing Mega Cap since the selling started in Mid Feb, likely brought on my declining sales and Elons heavy involvement in the Trump admin and his time allocated to DOGE, when he could be working on his businesses....all of which is negative press for $TSLA.
Elon has also struggled to convince the market that $TSLA is broadening its reach to Ai and Hum...
2025-03-16 20:53:32 +0000 UTC
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Last weekend we said that we are watching for a retest of the wedge top line and if it rejects then this could drop down further into the Buy Zone and test the 0.5 Fib or even the 200 Day MA next
This has happened now, so we should be watching for a hold in between this range now between $90 -$99
A hold here in the Buy Zone then I believe the price action can make another attempt at...
2025-03-16 20:50:08 +0000 UTC
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This chart has not changed for some time now so I am sticking with my count and believe that Wave 5 is complete here for me and there is a risk of a downside move now if the 50 Day MA is lost at $123.
A drop down to the 0.38 Fib is possible next at $105 if there 50 Day MA is lost and the rejected from below.
A drop then down into the Buy Zone below $88 would then offer another oppor...
2025-03-16 20:47:23 +0000 UTC
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I have added a number of times in the Buy Zone now and although the downside can not be ruled out down to $60, $PYPL is a company I will have no problem adding again at a lower level to hold for long term.
Fundamentals are too strong for me to ignore at these levels and I do not believe it is in sync with the market.
If $PYPL was at this price at the start of 2025, it too would have...
2025-03-16 20:38:21 +0000 UTC
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$NKE finished the week on the 0.78 Fib, we were watching to see if the 0.618 Fib would hold but it could not with the market weakness and needed a lower Fib to test.
Impulse Wave is still in place but bulls really need to start stepping in and the blue line at $70 is important, losing this level and a lower low is a strong possibility then.
I have not been accumulating yet because I...
2025-03-16 20:35:28 +0000 UTC
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A lower low has been made here below the Wave A level so the trend continues to lean to the downside and with only a test of the 0.38 Fib, I would expect a lower Fib level to be tested to complete Wave C.
Buy Zone is below the blue line at $350 and this could be the first Mega Cap to complete its ABC correction.
This would be attractive to add below $350 at the 0.5 Fib at $341.
2025-03-16 20:31:45 +0000 UTC
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We will see a lot of similarities tonight amongst the Mega Caps in the Top 20 and the $SPY chart.
All have lost their 200 Day MA and looking like the ABC correction is a firm possibility if the 200 Day MA is not retested next and flipped to support.
200 Day MA is at $177 here, which is the same level I have the Wave B level at too.
I suspect a bounce will come here shortly to ...
2025-03-16 20:28:22 +0000 UTC
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$DIS finished the week testing and holding on the 0.618 Fib after giving a 3 wave pull back too.
If the price can continue to hold here then we can expect a move higher next
With the first target at the 200 Day MA at $101, flipping this level to support and watching for the start of a new impulse wave and this can move higher and back up to the blue line at $123 next for a new impul...
2025-03-16 20:11:29 +0000 UTC
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As odd as this sounds, this Chart is still looking like a Wave 4 pull back, even more so than the $SPY chart too.
Price has been flirting with the 200 Day MA all weekend, which has been in between the 0.38 Fib and 0.5 Fib range, as standard as you'll get for a Wave 4 pull back too.
Recapturing the 200 Day MA at $83.9k will be a bullish signal, especially if it aligns with the market...
2025-03-16 20:06:09 +0000 UTC
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Ascending triangle formed now just under $145 and this is not a surprise now since every dip over the last few weeks has been bought up and it has struggled to even attempt a retest of the blue line at $121.
Even more impressive is that the US market really struggled while this continues to look more bullish and way above its 200 Day MA now.
$BABA can reach our Wave 3 target at $164...
2025-03-16 19:59:11 +0000 UTC
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Looking like a lot of the Mega Caps right now and the market.
Still needs to flip its 200 Day MA back to support here to reduce the risk and keep the Melt Up scenario still in play.
There have been a number of tests of this level all week which was healthy considering how weak the market was at times.
$AMZN for me is still the strongest Mega Cap right now, so if there is a rej...
2025-03-16 19:56:12 +0000 UTC
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I sound like a broke record now with $AMD because the commentary has not changed in some time now
We are still in the Buy Zone and still waiting for support.
We are below the 200 WMA so I believe $AMD is offering value now.
If the price can recapture the 200 WMA at $114 next then this is a bullish indication and a move back up to $164 is possible next....a lot will rest on $NV...
2025-03-16 19:53:20 +0000 UTC
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