MechanicalTrader13

MechanicalTrader13

We could see a decent bounce/retracement, but I am feeling less and less bullish on that at the moment. Looking at the fib levels and volume profile, 220 is in the cards.

MechanicalTrader13

Fib extensions and Elliot waves line up nicely. Today had a wild pump, two days against lots of bearish news... See what's to come in this pyramid scheme

MechanicalTrader13

Using this as a reference, nice correlation here that also seems to be converging into CPI tomorrow, so a break up or down (versus chop) to b expected.

MechanicalTrader13

Looking for this rally to fizzle, will size into a short position.

MechanicalTrader13 Updated 

A little bummed I missed closing out my Short on Friday with the drop, but I have some room and still seeing downside. Lots of macro catalyst this week so I'll be white knuckling my Sept 15 PUTs, but have enough reasons to stay bearish in the short term. Still looking to see 433 retest.

MechanicalTrader13 Updated 

The anticipated bounce on Friday (today) had a bullish close. Didn't see covering yet, MM has this pretty well wrapped up with a massive options expiry in play. Looking at the charts, I think we bounce of the trend line along with the .236 Fib and possible squeeze in play for Monday. Going day by day. The downside has a pretty big pocket of volume traded....

MechanicalTrader13 Updated 

I'd love to hear thoughts on my ideas, so please let's grow as a community and communicate. \ NVDA is reaching a no mans land IMO. Likely to see chop here with some slow selling into earnings (history repeats). Best play here is sell the 430 against the 440 CALLS on 28th expiry, plan to close on ER day. I dont see a big pop happening unless their is some...

MechanicalTrader13 Updated 

Going to do my best on weekly plans here and make them public. My goal is to share what I see and have you all bring your mindshare together to see if we can make something work. Let's do it. Macro Notes: 10Y is still in control and pulling a bearish weight on the market. That is the #1 thing to be watching right now. any dramatic move towards 4% and time to...

MechanicalTrader13 Updated 

Unless the fed decides to pause or reduce rates, I see tech continue to sell off. Few gaps will be filled before I re-consider a bullish stance. My current focus on biggest potential is: NVDA, using government AI legislature speculation as a catalyst (Biden mentioned today their will be more on this in the weeks to come). Along with not having the abilitiy...

MechanicalTrader13 Updated 

Entered yesterday, PT1: 186. Then looking at FOMC rate decision for a pivot or downside back to 140sish range.

MechanicalTrader13

Unless job numbers tomorrow bring a big surprise to a loosening labor market, TSLA continues down to 145 range. I'll be watching for options to toss this a round tomorrow but at this rate it'll be tough for MM to bring it back within range. Next week could be nassssty.

MechanicalTrader13 Updated 

YoY numbers are likely to fail, reports are rumored that their commercial version has been a failure and I do not believe that has been fully priced in. Adding in the current economical environment (eggs are a million dollars for 2), cheap subscription services are an easy thing to pull for the everyday consumer, aka NETFLIX customers. The only bullish argument...

MechanicalTrader13 Updated 

No news rip, looking to be a false breakout on this pennant. Expecting reversal to the downside.

MechanicalTrader13 Updated 

Lots of similarities here on MACD, RSI and pattern back in 2000... Long shot but something to support bullish rebound on the dollar.

MechanicalTrader13 Updated 

The H & S trade preformed pretty well, earnings def caught by suprise. Seems to finally be a rotation out of Solar and ENPH will be prime (along with a few others that are overbought. Looking for 260, 240 possibly lower as rates and new policies unravel. 200 isn't out of question EOY.

MechanicalTrader13 Updated 

Rejected off of the .786 retracement, top of the regression channel down. China COVID lockdown concerns looming for a nice catalyst and overall demand is subsiding. PT TBD but I'd expect to see this back in the 120-130 range before EOY, as long as FED doesn't make any bullish change to expected policy. 6/14 RSI and MACD both showing bearish movement.

MechanicalTrader13 Updated 

Head and Shoulders failed to play out, short covering into resistance, market is shittin the bed from termal rate increase on FOMC. Mean reversion in bound from the volume profile and retail chasing the 23+% pump. Short back the neckline for confirmation before further down spiral.

MechanicalTrader13 Updated 

Looking to meet the .5 retracement going into earnings. Unless they have some outstanding news I don't see this momentum dying in the current conditions after the rally solar has had. Watching this into next week to enter on any pops. RSI looks to be oversold but has room for continuation down to around 14ish (D, 14) while the trailing 24 MA on RSI continues to...