The RSI on credit spreads is changing course from being in a downtrend to starting an uptrend. With February's monthly closing we now have a higher high. Risk assets will not be the place to hide out; especially if you are leveraged long. https://www.tradingview.com/x/2RiJw8ZS/ Here is how the SPX has performed after changing course. The red vertical lines are the dates the RSI on credit spread changed from a downtrend to an uptrend while the green dotted vertical lines was the bottom in SPX. As you can see it is never immediate....
4 HOURS ANALYSIS EUR/USD EUR/USD extended its sharp rebound on Tuesday, climbing to the 1.0560 zone to hit a new top for the year amid further weakening of the US Dollar (USD), which receded to levels last traded in early December below the 106.00 mark when measured by the US
Gold is moving near around 2915 & 2920 and now it is going in BULLISH pattern with targets 2930/2940 and final target is 2950
As per last idea, ADA seems to have found support and might be currently aiming at its Wave 3 target (blue rectangle). The chart shows the most conservative price targets per elliot waves, but if we think about all the news and events we are still waiting for, it gives a little more confidence that price might go even higher. *This is not financial advisor. This is my attempt of practicing and learning about Elliot Waves. Please let me know how I can improve*
NQ Daily time frame is in an up trend, making higher highs and higher low. The market is starting to bounce bullish off the daily up trend line. There is an up Fibonacci with an extension price point 24662.25 about +15,948 ticks above the market. It will be a good idea to turn to the one hour time frame and look for long ideas in the buy zone towards the daily up trend line.
A resistance breakout is ahead, and a potential long position can be taken after the breakout.
EUR/USD 1-hour chart, Details: 1. Buy & Sell Prices: • BUY: 1.06184 • SELL: 1.06177 2. Trading Plan: • An ENTRY ZONE is marked on the chart (approximately between 1.05806 - 1.06139). • Price is expected to bounce from this zone and move upward. • First target: 1.06999 • Second target: 1.07682 - 1.07869 • Final target: 1.08851 - 1.09000 3. Trade Structure: • Bullish momentum is present in the market, forming a Higher High, Higher Low pattern. • Price is anticipated to reject from the ENTRY ZONE and continue upwards. This analysis suggests potential buying opportunities in EUR/USD, but confirmation from market conditions is essential.
Nvidia ( NASDAQ:NVDA ) shares took a steep dive on Monday, falling nearly 9% after former President Donald Trump confirmed that tariffs on imports from Canada and Mexico will take effect on Tuesday. This sharp drop contributed to broader market weakness, with the Dow tumbling 800 points (-1.8%) and the Nasdaq Composite sliding over 3%. Despite Nvidia’s recent earnings beat, its stock has fallen over 13% since last Wednesday, erasing its $3 trillion market cap and bringing its valuation down to $2.79 trillion. However, Tuesday’s trading session saw a notable rebound, with NASDAQ:NVDA gaining 3% as buying pressure returned. Given the technical setup and macroeconomic factors at play, is Nvidia poised for a comeback? Tariff Fears and Supply Chain Scrutiny Nvidia’s revenue surged 78% year-over-year to $39.33 billion in its latest earnings report, surpassing analysts’ expectations. However, investor sentiment remains cautious due to the uncertainty surrounding new trade tariffs. Trump’s 25% tariff on imports from Mexico and Canada could impact Nvidia’s supply chain. While most of Nvidia’s chips are manufactured in Taiwan, other high-end components and full computing systems are assembled in Mexico and the U.S., making them subject to the new duties. Technical Analysis Despite Monday’s sharp sell-off, Tuesday’s market session saw a 4% bounce, signaling potential recovery. Key technical indicators suggest a possible shift in momentum. Nvidia’s relative strength index (RSI) has dipped close to oversold territory, suggesting the stock may be due for a reversal. NASDAQ:NVDA is trading at levels last seen in September, a historically strong support area that could trigger buying interest. With traders digesting tariff implications and market conditions stabilizing, Nvidia could see a short-term bounce if momentum continues.
Why is it that broken lines of resistance being used as new support (works vice-versa as well)? Because it works virtually every time! ??? We had sizable 3/21 NASDAQ:HOOD puts in the WAVE$ Portfolio for the past week, and early this morning we locked-in a 4X profit. ???? We then used those put-profits to shark up some more NYSE:UBER and NASDAQ:RIOT call options, and establish a NEW call options position on $HOOD. ???? I think that NASDAQ:HOOD has bottomed out following that re-test of broken resistance (yellow trend line), and although it may take a bit to see new highs, I think that we'll be seeing mostly upside from here. ⚓️✔️ -Royce ??
Dow Jones is bearish on its 1D technical outlook (RSI = 36.722, MACD = -181.150, ADX = 58.438) as it is running the bearish wave of the 16 month Channel Up. Being so close to the 1D MA200 has been a buy signal since November 2nd 2023. Additionally, the price just hit the 0.382 Fibonacci level from the last consolidation phase. If that's confirmed, then the index is about to complete the new consolidation phase. The target on the previous one has been at least the 3.0 Fibonacci extension. The trade is long, TP = 50,500. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##