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SMCI Low Short Volume
Despite the negative headlines this morning, data shows that the short volume for SMCI isn’t high. There is roughly $2.2 million in short volume, and this is pretty low compared to past short volume against SMCI. I think SMCI has already dropped significantly, and I wouldn’t take a short position here. The two key price […]Read More
HOLO Short Volume Has Declined
Good news for HOLO investors, the volume of shorts has significantly declined as HOLO approaches the $0.41 – $0.43 support zone. Short volume recently spiked up, and it is clear that shorts have been driving the price back down again. Now that short volume has decreased, I would monitor $0.41 – $0.43 to see if […]Read More
IWM Starting to Rally Again
IWM is also experiencing this alternating pattern of green and red days. On Friday IWM experienced a large spike up, and started to rally again. However, today IWM is trending for a red day. If the pattern continues we are likely to see more upside for IWM tomorrow. I like what I’m seeing with IWM, […]Read More
NASDAQ is Bearish with Alternating Days
The NASDAQ is also experiencing alternating days, and QQQ is looking bearish relative to SPY. QQQ is trading way below the previous all time highs, whereas SPY is trading near all time highs. The price action for QQQ has been neutral and bearish while SPY continues to trend up higher. There is a pattern of […]Read More
SPY Trending Up with Alternating Days
The S&P has continued to trend up, and is alternating between green and red days. Today is trending for a red day, and if this trend continues tomorrow we can see some green. SPY is trading near the previous all time highs around $565, I’m comfortable starting to build a short position around $565 and […]Read More
Volatility for NVDA Ahead of Aug. 28 Earnings
NVDA is showing a lot of volatility ahead of the upcoming Aug. 28 earnings date. There is a pattern of alternating green and red days for NVDA. Today is a red day, and if this pattern continues NVDA will be green tomorrow. I think there are some bullish signs on the chart with NVDA breaking […]Read More
SQQQ Continues to Show Bullish Strength Near Resistance
SQQQ has started showing bullish strength last week, and continues to show strength as we start this week. I think the recent spikes up show that traders and investors are looking to short the market headed into the bearish September seasonality trend. I think SQQQ continues to trade below resistance, and I would monitor $8.17 […]Read More
HOLO Selloff from Dilution News Continues
HOLO experienced a nice rally last week, but there was dilution news announced on Friday that really hurt the strong rally. There was a selloff on Friday and we are seeing a continued selloff today. I think we saw something similar with GME and AMC where both stocks rallied, and then the Board members took […]Read More
SNOW Starting to Rebound Despite Last Week’s FUD
Last week SNOW suffered a significant decline after reporting earnings. However, this week is SNOW’s best performing week with 100% bullish rate and 14% gains on average. SNOW is rebounding from a red resistance line, attempting to flip this resistance level into support. SNOW is trading near all time lows, and I think we can […]Read More
QQQ Retesting the White Zone as Resistance
QQQ is surprisingly green today despite the worse than expected jobs report and jobs revisions. On a positive note the unemployment rate is still low, and Sahm’s rule has has become untriggered as the unemployment rate remains flat. I think jobs data will be important to monitor over the next few months because there are […]Read More
Selloff for QQQ
QQQ has started to selloff and has lost numerous support levels today. There is a break below the white zone and the yellow channel with a drop below $488.48 support. I think there could be some downside next week as we wait for the results of the US presidential election. Numerous stocks have also dropped […]Read More
Selloff for NVDA as SMCI Accused of Cooking Their Books
This week SMCI’s auditor resigned and accused SMCI of cooking their books. This could create a ripple effect for NVDA and the semiconductor sector. SMCI has been a large customer for NVDA, and this could raise some investor concerns about the finances behind some of these semiconductor stocks. NVDA was trading at all time highs, […]Read More