VIX closes at 14.64 on Friday (hit a high of 50.60 on 2/6) -one thing i kept hearing on Fin Media last 2 weeks is that higher volatility is here to stay in ’18… that could happen… but isn’t it funny that the market always seems to do the opposite of what the “experts” say
YM (Down emini future) Dow Jones trades 2k points higher on 3/9 one month after “On Sale Now” trended on twitter, coincidentally becoming trap of sellers caught <24200.
ES (S&P 500 emini future) Monday: Open >2792 forces buyers to chase, giving way to expand C/H breakout through 2808 into filling gap from 02/1 at 2822. Next major pain for shorts > Feb high 283725, to allow test and gap fill of SOTU bull trap > 2850.
NQ (Nasdaq emini future) Nasdaq breakout/recovery >January high, gives room to expand Jan-Feb range up to 7930. This would put the nail into the coffin of bears. Bull mkts tend to end w violent moves. Expanding on b/o can be as violent as the Jan-Feb breakdown.
BTCUSD short term resistance at 10,100. After the breakout, it needs to consolidate at the previous resistance. The key is for it to defend 9400 before it could try 10,100 again.
BTCUSD is trapped between $9,100 and $11,800 for the near term. Moves above / below should set the trend for the following months ahead. Patience is your best bet.
BTCUSD has completed the wave 2 with a beautiful bear trap candle, after touching a long term support line! Saturday’s move created a double-bottom on the hourly chart, which further confirm the wave count.
Love the BTCUSD misery index
TWTR moves back above $35
CAT is on breakout watch with 161-162 being potential struggle zone
MRVL looks promising
SMH semiconductors are one of the hottest groups in 2018 at +14.44%. The leader of that group is LRCX at 22.21%. It had a high volume breakout over $200 last week and is up 12%+ since. Keep your eye on this sector.
AA long setup
AAL breakout for gap fill
ABBV falling wedge breakout
NVDA inside day up with inside week. The breakDPZout shall continue.
DPZ heads for ATH (all time high)
SBUX cup and handle break out above 50 day moving average
CMG shall keep going
AAPL 20 bucks away from a trillion
