by Alpha | May 13, 2020 | Market Update, RQLAB
SPX
The following “micro” extensions are standard and apply for SPX (MPlink): -2.618 at 2798 followed by -2.764 at 2789.7 and -3.618 at 2741.4. These extensions are “within” an abc down that has standard extension at 2759.2 (Alt10link).
Upper support for the index is at 2835/2833; that is the line that needs to break to ignite acceleration down to lower extensions, without a break below this line, it is not correct to assume an over bearish stance.
Some stocks that might deeper pullbacks:
NVDA, immediate support is at 297, support off March lows is at 244. If a trade is done against support at 297, I would use a max stop loss at 289 (Alt10link).
OKTA, support is now at 151/147 a wide stop loss for initial positions could be 142 (MPlink).
PYPL, support is now at 109 (MPlink). A higher high above 147.59 will lead us to repurchase with stops at 138 in case we are wrong.
TWLO, consider TWLO could be included in the list of deeper pullbacks needed but in order to make such assumption needs to break below 180, contrary case, if it breaks out above 197 then 179 becomes stop loss and TWLO could make a move to 225/244 (Bigalowlink)
CDNS, for a major retrace to main support to 63/60 CDNS needs to break support at 78.56 followed by moves below 76, for now we have stops at 78 but will update stops to 75 (Bigalowlink).
AMD, support at 50.77, below this line and could see a deeper retrace to 46. I dont intend to trade much AMD, I have not had clear sell signals on it so is a core holding for now.
Stocks with higher targets pending
SHOP, pending target to 792/782, upper support 732, next support at 685 (MPlink).
AMZN, pending target at 2800, support for AMZN at 2310/2284, below 2284 then an abc corrective move will target 2189 area (Alt10link).
AAPL, pending target to 325/342, support at 301/299 (Alt10link).
BYND, special case
Ideal target for BYND was 148/149, but today hit an average target at 145.48, the current micro count suggests that for as long as 127.75 line holds could continue extending to 150 probably (MPlink). Personally, I do not think 127.75 is seen for now, so probably will trade upper supports at 131/129.
As a note, the .618 of the high to the lows structure is 170, so while BYND still could continue extending to that line, this does not mean it is an impulsive price structure, at least for now.
Will talk about $FB and $AMD later. Check us in room
Good Luck..
Seeking Options Team – RQLAB Please email us if you want to be part of this group at [email protected]
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SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
by Alpha | Jul 3, 2019 | Market Update, RQLAB
FB
I had commented several times on $FB, expressing that while $FB holds above 184.63 the potential exists for new all time highs (MPlink) the risk reward on $FB is good and will be reviewing the price structure closely considering that pullbacks are opportunities for a decent target at 224. Positions here should be small to have the flexibility to adjust, the line at 184 should suffice for stops now.
IQ
Bottomed at the 1.382 extension. There is not enough structure for a 1-2 down since A subdivided in 3 waves down (OPlink) but a break below 13 should be bad, next support should come at 7 and breaking below 7, next support is 1.7, so for longs below 13 is not dependable.
For now the microstructure found support at .764 extension at 17.18 (OP2link), small positions here should be recommended for the long side, immediate stops at 17.
TSLA
We have been recommending $TSLA in our chat rooms, clear support now is 230, below 230 might test 218, below 218 probabilities for an impulsive move diminish and this bounce should be labeled as bearish (OPlink). .
Good Luck..
Seeking Options Team – RQLAB Please email us if you want to be part of this group at [email protected]
Again we will give more detailed trade setups and targets, please check us our Chat Room..as low as 15 dollars.. check this link for options
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SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
by Alpha | Jan 17, 2019 | Market Update, RQLAB
Support should be set at 2551
That the market finds a local top at this area should not come as surprise for us, maybe to the public, but not for us, our first average was 2613.34, our second average was 2623.07. Additionally other analyst, in this case, Bill, known as EL_hombre_Espantoso on EWT, adjusted his target to 2629 on January 10th. So a top in this area is factored by the masses.
On January 8th, I did mention that we were going to see more more charts from Avi Gilburt. Today Avi posted: For now, the market still has to break down below 2575/80 support to suggest we are in the [b] wave pullback. So you can observe Avi has set his support at 2570. I have attached his charts.
So you see Avi, has now his support at 2575. Well, similar to what we have done, we will try to refine even more this approximation. For this, while Avi has last line at 2575/80, we will set our support at 2551.8, the .618 retrace of the a/1-b/2 structure off the 2340 lows (Alt7link). This is just an adjustment of 23.2 points that we are doing based on the internals we track every day. Since we will be under Avi’s 2575 support we will direct our efforts to detect an impulsive move that confirms 2551 is holding, should that impulse develop we will buy our core positions at better prices. Should 2551.8 holds ideal targets should be 2751 or 2812.
I sent you the banks this morning. We are curious to see how FAS behaves when/if the markets hits 2551.8. This should spread some light. FAS holding 46 with SPX holding 2551.8 should make FAS buyable. Still would like IWM hits 146 before we start this decline to 2551.8 on SPX, IWM was truly close today at 145.25 so we could consider IWM has met targets too, but for all purpose 146 is still ideal. Not hitting 146 would be very strange and unusual.
by Alpha | Nov 26, 2018 | Market Update
Quick Market updates from Trading Room..
1. Weekly OSC is Bullish
2. Daily OSC is Dual Look Back Oversold.
3. A Daily low is near.
4. If Wednesday is a W.4 high as shown on the SPX chart, the ideal EOW-5 target is 2620.27-2607.09, the 127%-162% External Retracements.
5.What now clearly appears to be a five wave decline from the 11/7 high signals the higher time frame trend should be Bear, 11/7 should have completed a W.2 or B high, and any advance should be a correction in the higher time frame Bear trend.
6. An SPX close above 2641.28 signals a W.5 is complete and a 3-5 day corrective rally should follow.
7.The ideal setup will come in the day’s ahead following a corrective rally and a daily momentum BearRev for a continuation of the Bear trend to new lows.
For Further Details and market updates please check us in the room..
Thanks
Again we will give more detailed trade setups and targets, please check us our Chat Room..as low as 15 dollars.. check this link for options
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SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
by Alpha | Nov 6, 2018 | Market Update, RQLAB
The market could print five up toward the 2790 region or break down in a c wave down (Alt8link) to 2681-2655 area with .764 of the move off the 2603.8 lows at 2642 . On the micro, there are enough waves in place to consider five down off the highs (Alt7link), so below 2730.7 probabilities point that the c wave down should start with initial target at 2693.
Moore’s 2C-p is at 21.7 (17.6 previous)
On AMZN, .764 for AMZN is at 1528 and .618 at 1561
On NFLX, .764 for NFXL is at 284 and .618 at 292.43
FB, would be fair to consider five up on FB (Alt7link), .764 at 141 and .618 at 144
AAPL, has a micro five up for 210, but if AAPL invalidates this micro five up and breaks below 198.17 will extend lower, with last bullish support at 194.97. Below 202 we can not be bullish on AAPL, so on a break below 198.17 our objective target is 186 at a minimum, with support at 194.97.
This is the very bulk of our portfolio, so, we have to watch these lines.
Since update is short, I want to tell you why I find shorting or hedging is not a good trading strategy:
Let me post: Livermore was the one of the greatest traders of our lifetime, he got billionaire shorting during 1929 but: Livermore lost 40% of his profit in 18 months – going long the stock market as it slipped to its lows by mid-1932. Then in 1932, Livermore switched, went short the market – just in time for it to double. The final blows were caused in 1933 when Livermore went long the market just as it fell back near its 1932 lows.
Another example of why I find shorting is not a winning strategy is John Paulson. He made 20 Billion during 2009, to underperform year after year since 2009 correction. There is a pattern in the mentality of a bear trader, which? I don’t know.
So switching might have appeared wise to us, but most important when trading is to realize where market can turn and provide a probable salvatage point for portfolios and a trader must maximize that probability; fear will make you switch at worst time. I think Livermore did not realize he was trading a c wave up, and he waited for market to double to realize about it. I find some similarities with this c wave up now being projected to 2872, with upper end of b at 2910, but not a higher high in sight for now (excepting we have a more clear five up to 2790). Shorting after we hit 2603 was not good, and with this update my objective is to avoid we short, victims of fear and we lose the only opportunity to leave this market decently. This probability is valid while the market holds 2642 and has the ability to maintain above 2603.
I want to address Hopes: APPL came into earnighs with TNA at 1.764 off the lows (Alt8link) and similar position on SPX (Alt8link). And with these low probabilities we “hoped” AAPL to report well, these were hopes… and hope is not a good trading strategy. I held onto longs and concentrated portfolios, because I hoped to be wrong at the highs and hoped market could make our case wrong.
Here as I said, better would be one more higher high to complete a more structured five up off the lows, but what have have is enough to get the 2860-2901 area. Support for VIX is at 17.6, hard to see volatility going higher once 17.6 breaks down again, but for now and above 16.2 there is nothing bearish for VIX. That should be an indication that market has probabilities to test 2680-2642.
Addressing some mistakes this year: One was to try to track this market or to beat it or to not take profits when we had them and stay on the sidelines, failing to realize the tape was being held by a number of stocks that was reducing constantly, paraphrasing Jesse Livermore: beating the market is only possible by trading at times when the market allowed one to win – during clear bull and bear markets when most stocks were moving in a single direction. We must protect gains when we have them and realize market conditions have changed and only come back to markets when is proven market attitude has changed. Losing gains abruptly in a portfolio should be an indication that something in the market is not working right. Adding to a portfolio that has lost gains abruptly, should not be advised.
Our mentality has to be readjusted to accept critical junctures and do not hope for market to do something different to what is probable. I am not bearish, ultimately, being bearish is a product of despair or good work applied with anticipation, after a b wave up is completed, better is to wait for five down to short. That is a rule. We can and should optimistic with a pattern, once it breaks, we should be realistic.
Carlos
Seeking Options Team – RQLAB Please email us if you want to be part of this group at [email protected]
Again we will give more detailed trade setups and targets, please check us our Chat Room..as low as 15 dollars.. check this link for options
Access to the Trade of the Week Click Here
SeekingOptions.com its partners and/or 3rd party affiliates are in open entry/closing positions in all of the above stocks, options, or other forms of equities. The trades provided in the above daily/weekly watchlist are simulations based on SeekingOptions oscillators strictly for educational purposes only, and not to solicit any stock , option or other form of equity. Under Section 202(a)(11)(A)-(E) of the Advisers Act this information is not considered investment or portfolio advisement from an authorized broker registered by the S.EC. (Securities Exchange Committee) and is limited to the scope of education in the form of market commentary through simulated trades via SeekingOptions.com indicators, and other educational tools.
U.S. Government Required Disclaimer – Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which SeekingOptions.com will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors. SeekingOptions.com is not a registered investment Advisor or Broker/Dealer. TRADE AT YOUR OWN RISK
