Erictaylor

Baba I shorted baba yeateday at 94.40 and rode it down to 90.50. I closed. My thesis here is prior to pumo to 105$ we had a tripple wick to 88.17/88.25 This is a huge potential support if we can flip this here. Seems logical to go long at this level I am in calls 91$ calls out for may. I think as long as we hold 88$ as support this idea is valid. A breakdown of 88$ will lead us towards 85.50 again which was the breakout level. I am long BABa today at 88.25 as I had been waiting for this level for a bit

Spy 410.30 is holding as support. Overall risinf trend channel with a curently a 15 min and hourly symetrical trinagle at the low end of this supprt. It’s hard to tell which direction but we have had some bearish pushes into this pattern which could lead towards a breakdown. If we can pop above 413 and hold this will be a breakout but a drop and hold below 410.30 we can look for a drop towards 406 in coming days Hard to say which way we go but I am short will stop out if we pop and hold 413 as support

AI AI has found its self at the lower support of the trend. 20.42. Starting o look like a flat bottom support. This is a bearish setup. We were long a while back and we took profits in the 32s but Ai has now shown a breakout and bearish fakeout. Back at the same support. Bulls are buying this support up but in my veiw it’s on the verge of a large breakdown. For me I’m shortinf at 21 put. Loading up any pop to 20.66 area. This trade will be taken down towards 18.50 area where I’ll take some profits overall tarhet is 10$ but there will be bounces. I’m looking for a break to 18$ is next week or so. Mabey today. Looking for a bounce there back to retest 20.42 where if that happens and we reject again I’ll re add at that rejextion and bring it lower. It’s considlating at the low now looking to breakdown here in my opinion. Be ready it is a Friday so it may not happen today but I am very short

Huge reistance around 42$ as we come up here to backtest the bear flag breakdown. Based off this pattern if we confirm the reistance retest. Kiss of death … target off this bear flag is 23$. If we just measure the width of the bearish uptrending channel as a breakdown then the target is 32$ c either way this will take some time to play out so if we short 42 and go a few months out on it this should give a solid 10$ move down at least

This is time to pay close attention. We have had a sideways range on SOL for a while. Could be bullish considlation for sure but 25.55 are has been a huge struggle. If we pop above we still need to see a confirmed hold above this level as new support until then shortinf this level can pay out. If we short it we ave to keep stops above 27$ area looking for Take profits down at the lower range support of 1990-18,90 area. If we manage to pop 26 and hold above we could start to consider the possibility of this being a breakou howverr as of now the bears have shown to control this level of rowtsnaxe quite well, so although it feels really bullish I’d think that participating in the short of this level could be a better more probably entry vs the long but you have to have your risks managmebt in place in the case that SOl finally breaks and holds this breakout.

As nasdaq contiues to struggle the monthly 21 ema as reistance it’s time to get cautious. Although price looks very bullish here and I can agree. We also have to pay attention Becuase these levels are extreme levels of potential bear market reistance setups The Nasdaq doesn’t have as much data in monthly as spy so it’s harder to really make A comparison. At least on the chart I have here but it is going to be a struggle I do like the 50 ema curling to upside here but we are far away from it at this point so it’s possible if we are building a large considlation pattern here we have room to go back and test the 50 ema area again to double bottom of it around 11,500 If Nasdaq can pop 13,500 and hold as support opening a monthly candle above this could signal a very large move up, Howver for now it’s more logical to expect a rejection here in coming weeks

At critical reistance again this 11.40-11.75 area is absolutly massive. Although we have a potential of a bullish ascending triangle built here that could Cause for a very big breakout, we have struggled at this level so it’s time to pay close attention. If we fail to break and hold a full daily candle open and close above 11.40 we could be in a bearish pattern. It’s really hard to decide which way we will breakout here Off moving averges we have the 50 ema crossing down here which could push price downward to break down here. We have potential bearish daily divergents showing up here but not confirmed. Now we also have the 21 weekly holding price up curling upwards while the 50 ema on weekly Is above price curling down pushing against price as reistance but if we can clear it and control above it that could signal a large move up. Howverr if we fail again this could be a push down. It’s really challenging for me to really pick a drieecfion which makes me think a push above 1150 and backtest and hold on a smaller time frame is probably the best way to play this on upside breakout. If your bearish here or undecided you could play the short end of the reistance and short vetween 1150 area and stoploss above 1170 or so Be cautious but be ready

So although my idea of 411.40 continuing to hold as reistance wasn’t the right idea to start, we still are up towards The symetrical trinagle I have drawn out reistance. We do have a chance of this range of 418-380 to contiue being a range, but perosnly I’m looking for a lower high again but 418 isn’t out of the question. Now I don’t personally think that we breakout through this 418 100ema also on the weekly. My thoughts are that tech is slowly starting to show weakness up at their high reistances Tech has been holding spy up from dropping lower while banks caught the dip. We have now seen banks rally and tech show slowing down. If the banks are only on a relif rally and catch a short bid again, and tech contiues to remain weak, this will be a bad sign on spy going higher this year. A strong reason for the rally in my veiw is speculation of FED pause, howverr banks did show decent earnings which to me can cancle to pause idea of rate hikes if banks aren’t getting as effected as it looks. If the banks arent going to be a big fear, and they are going to contiue up, and tech gets weak, the tech make up such a big percentage of the S&P that it could drag it down. Obvisouly I don’t have a crystal ball, and Mabey this time spy does finally break to the upside, but for me and based off the charts It’s looking like we contiue the chop fest which would Insinuate another pull back down. Spy hangs out longer at the low end of the range then the high end so shorting these higher levels should pay out. Over the course of the next few weeks For the bullish case for me the key thing I see is the 200 weekly contiues to hold price up since we tapped it at the peak of inflation. If this symetrical trinagke I have drawn out here does end up forming a reversal signal and it’s just bullish consolidation above the weekly 200 then we have outs on the shorts. Which would be a hold above 420 as new support again Anyways I’m still remaining bearish as we climb into this upper range again and I’m starting to buy puts a few months out on big tech. Could this idea be wrong? Absolutly Howver the feds don’t seem to care about slowing rate hikes as long as banks don’t fail… if they remain showing strength on earnings they will contiue. The market might be feeling FOMO and obtomistic at these highs but from past performance these highs have been selling opertunitys this year and last. I’m going to contiue to get bearish as we reach these highs and play defensive

Time to get cautious in my opinion. Btc is getting very close to toppin out. The pull back could Be violent but won’t happen in 1 week. Great rally up over 100% from the bottom. 50% pull back should be a good reload point. Shorts looking good around 31-31,200 area. Mabey we can wick higher but dxy rally off the bottom could be first signal for turn around. I’m feeling bearish at the top reistance of stock market and BtC… so what why get bullish at reistance in a shitty environment. Time for some big pull backs. Get your cash ready ! No investment advice .

Contiues to build this ascendinf tirnagle which has flat reistance of 1170 a pop and close and hold as support above this level can give us a beautiful breakout back towards 1371 which would be the target of this pattern considation It looks like if we got further pressure building in this pattern we could see this breakout around April 22nd towards end of the apex. Lower support of this pattern is 1078-1080