SwingTraderEd

SwingTraderEd

Gold is on its last leg of an Elliot impulse wave. The top looks to be 3k using a fib retracement strategy. This aligns with the previous cup, handle, breakout to 2x above the handle from the 1980 to 2012 chart.

SwingTraderEd

I see the DXY climbing higher to the 106 area where i see it topping on May 31st. After the long memorial day weekend, I see the dollar fall and equities / commodities climb higher until October. I still think the US election will be a sell the news event no matter the outcome. Many will want to get out and timing the top will be hard. We should start seeing...

SwingTraderEd

I see the Nasdaq futures taking a pull back through the month of May down to bounce off the highs from 2022 (~16500). I think this will happen as the dollar increases due to the EU Bank cutting interest rates or at least hinting at cutting rates later this week before the US Fed does. CME_MINI:NQ1! NASDAQ:QQQ

SwingTraderEd

ATnT ( NYSE:T ) looks to be have hit its bottom in August of 2023. It could be completing its first leg of an Elliot Wave pattern here which would send it toward $26/share by the 4th Quarter of 2026. This would be about a 66% return over the course of the next 18 months, not including Dividend distributions.

SwingTraderEd

K is posting a nice pullback after a post earnings gap. Its resting on the 200 dMA as well.

SwingTraderEd

$HD is making a nice inside candle so far today and resting on the 20 dMA after pushing through it yesterday.

SwingTraderEd

MSFT had high volume on the upside first thing this morning and has since pulled back to the open with low volume

SwingTraderEd

MSFT bouncing nicely out of an 2 week consolidation

SwingTraderEd

Kroger is one of those defensive stocks that is looking to pop right now. I see rotation coming back into this sector.

SwingTraderEd

HELE is looking really good. The chart itself is creating a nice wedge and the MACD and RSI are both creating higher lows. There are frequent periods of large buying through this consolidation period and the icing on the cake is the 14% short float in this stock. The defensive sector could see rotation soon too.

SwingTraderEd

@Topstyle999 I am looking for a target of $34. I came up with this value by using the fib retracement tool from the January 2020 highs, down to the Covid lows. Stocks tend to like to bounce between these levels, while climbing out of a pullback.

SwingTraderEd

JMIA is bouncing nicely off the 20 day MA. A couple weeks ago, it pulled back to 18 where it bounced hard back into the low 20s. Last couple of days it rode the 20 dMA back down to form a nice bull flag. I am looking for it to head straight toward 44 before the next bull flag.

SwingTraderEd

Bond futures are rallying further this morning. It started yesterday and they are only accelerating. It's hard for me to believe that this acceleration is from the fed again. It is either old bitcoin investors that were scared away, or the investment funds are parkling their money somewhere "safe" for a few weeks until the fed speaks on June 15th. Something to...

SwingTraderEd

Cruise lines are looking good here. Waiting for it to break out above this bull flag. After watching the mobs at the #PGA chaampionship, I think summer/fall/winter cruises have the potential to be packed full.

SwingTraderEd

WYNN broke its trend line today. It had been consolidating for some time and with the entertainment and travel sector as a whole breaking out, I think this move is good for a 10% return in single run.

SwingTraderEd

$CHWY looks to have found a bottom here. My target is 108 (the 78% Fib retracement). $CHWY has proven to absorb its pullbacks quickly in the past. The stock is also heavily undervalued, trading at half its enterprise value with positive free cash flow and P/R and P/S under 5. This stock is a strong buy for me right now.

SwingTraderEd

QQQ is looking to form a head and shoulders. The fed is not ready to raise interest rate yet but the charts look to be preparing for the news

SwingTraderEd

The US Treasury Bond futures are forming another large wedge. You can see what happened after the last large bond wedge formed and broke its resistance upward. Also notice how the second valley is occurring at a new, long awaited, all time high. The bond wedge in Oct 2019 formed its 2nd trough as the SPY was breaking a long awaited new all time high too. I...