SHOP Looking Lower
Hi Shoppers, The Shopify (Ticker: SHOP) chart is not looking so good: It has had two very bearish down days and twice closing below the 50 day moving average. It looks to me like it has further to fall. The next support level comes in right around $54.50. Here are the Aug18 puts: The 59/54 […]
US Downgraded – WFC Ready to Rollover
BY LICIA LESLIE August 2, 2023 Hi Shoppers, For the last two days, I have been saying I am not sure where this market is going. Now, we just may have a direction … lower. It’s the US’s second credit downgrade in history and after the first one in 2011, the market dropped 17%. The […]
FCX Next Leg Higher
BY LICIA LESLIE July 30, 2023 Hi Shoppers, Freeport-Mcmoran (Ticker: FCX) looks to me like it is in consolidation mode: Generally when a stock takes a pause and trades in a narrow range it is gearing up to continue onto its next leg higher (lower). I think FCX will test that previous high of $46.70 […]
Where Do We Go From Here?
BY LICIA LESLIE July 28, 2023 Hey Shoppers, Check out my SPDR S&P 500 (Ticker: SPY) pitchfork: Yesterday, SPY touched my resistance level and made a complete reversal creating a large bearish engulfing candle. I think SPY will pull back to the $445 level. It won’t happen in one […]
Longer Term CLF
BY LICIA LESLIE July 26, 2023 Hi Shoppers, Cleveland Cliffs (Ticker: CLF) has had its earnings report and had a pretty bullish day yesterday on big volume. It actually busted out – to the upside – of a trading range it had been in since May and closed well above the 200 day moving average. […]
AAPL Action
BY LICIA LESLIE July 23, 2023 Hi Shoppers, On July 5th, I told you Apple (Ticker: AAPL) was ready to rollover and trade lower. It wasn’t. But, now it just may be. It shot up five bucks the other day in literally less than ten minutes because the algos read […]
Zoom … Zoomed!
BY LICIA LESLIE July 21, 2023 Hey Shoppers, Zoom Video Communication (Ticker: ZM) has “zoomed” up ten bucks in eight days before its reversal yesterday: It looks to me like the stock will trade back down to that 50 day average at $67.87 and possibly back to that support level coming […]
GIS Ready to Bounce?
Hi Shoppers, General Mills (Ticker: GIS) has just gotten hammered since mid May dropping from $90 to $74: As you can see, it’s traded down to a major support level here. Yesterday’s candle could possibly be signaling a change in this trend. Here’s the close up: As always, be sure to wait for the confirmation […]
QQQ Change in Trend
Hey Shoppers, The Invesco QQQ Trust ETF (Ticker: QQQ) has a nice doji created on Friday which could possibly be signaling a change in trend in this rally. This is also displayed in the ProShares UltraPro Short QQQ 3x (Ticker: SQQQ): I am thinking SQQQ can trade up to $18.80 and possibly $20.20. Looking at […]
Hop Into BITO Calls
Hi Shoppers, Bitcoin (TIcker: BTCUSD) is breaking out over $31,000. I think there is a nice trade to play in ProShares Bitcoin (Ticker: BITO): I think it is ready to rally up $17.70 and on to $18.40 and may be even $20.80. Looking at the calls: I like the Jul28 17 calls. Trade Review […]