To The Moon

As anticipated last week, there was a chance that certain targets would not be fully reached, given how overextended the moves had become for the securities selected. The gap required to hit those primary targets was substantial. Despite this, several of our high-probability setups performed well: $Invesco QQQ(QQQ)$ moved toward the $583.1 target, and $SPDR S&P 500 ETF Trust(SPY)$ neared well its $673.8 objective. Additionally, $Exxon Mobil(XOM)$ successfully reached its target of $145.3.

We also held a bearish outlook for $Apple(AAPL)$ , which serves as an important case study analyzed in the charts below. While Apple moved lower in Tuesday’s pre-market, reaching our -3.3% target proved difficult in the overextended bearish environment. Similarly, while we expected a bullish move in $Costco(COST)$ at the start of the week, it partially materialized. The target was $1,038, but the price topped at $1,028 on Tuesday. While the direction was accurate for the early week, it fell short of our ultimate target; therefore, I am classifying that setup as “vanished” in our track record.

As mentioned last Saturday in this publication:

While Friday showed indecisive price action that could hint at a potential bottom, the price is far from oversold enough to match previous patterns that triggered bounces. A rapid flush on Tuesday could provide stronger bottoming signals

The bounce was likely and we will study the same chart from last weekend keeping the highlighted candles that in the past were followed by a flush the first day of the week, just to bounce and closing in the green.

As I highlighted to premium subscribers, holidays often result in blurry visibility, where setups may fail to complete or reverse entirely during Sunday and Monday futures sessions.

Crypto Continues Weak

Bitcoin (BTC) and Ethereum (ETH) suggested a bullish reversal on Saturday, those setups were ultimately invalidated. In trading, discipline is key: the trigger for Bitcoin was never activated because the $70,8K level was not breached. Since the price was rejected once again, there was no material damage to our setups in IBIT and even ETHA.

Opportunities Brewing

Looking ahead, the same overextension that prevented some bearish targets from being reached is now creating potential reversal opportunities. Using our indicators and modeled Central Weekly Level (CWL), several securities now show a bullish bias for the coming week. We will study the specific CWLs and targets for names attempting to reverse, including $Palantir Technologies Inc.(PLTR)$ $Broadcom(AVGO)$ $Amazon.com(AMZN)$ $Netflix(NFLX)$ $NVIDIA(NVDA)$ and even Crypto, though the two latter requires extreme caution given the earnings report and the weakness in Price action respectively.

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