WTI crude oil has been holding around $40/bbl for the past couple weeks after it topped out at $42/bbl. Based on the technical oil chart analysis, a big fall is coming to $35/bbl or lower. There is a classic inside bar/bear flag formation that signals a swift flush on WTI crude.…
The Russell 2000 chart is setting up for a nasty fall. A 20% or more drop will occur when the channel on the IWM (Russell 2000 ETF) chart breaks. As it stands now, the Russell 2000 chart is hammering on the lower range and could break as early as next week.…
Shares of Zoom Video Communications (ZM) are collapsing today. The stock is down 5% on the day after a massive move higher. This has been a favorite of investors who were looking for a safe haven during Covid-19. To put the move in perspective, Zoom Video Communications was trading at $70 per share in January 2020.…
Shares of Facebook Inc (FB) are collapsing dramatically today as more major companies like Verizon (VZ) are stopping ads in protest. While many are stopping for the month of July, Verizon has one-upped it by stopping paid ads indefinitely until Facebook fixes their hate speech issue.…
Shares of Sea Limited (SE) have started to correct their massive run to the upside. The bubble looks to be breaking as the stock has fallen from a high yesterday of $116.00, dropping to a low of $100.66 today. This fall is just the start of a massive unwind in the bubble that is Sea Limited.…
Shares of Wayfair Inc (W) surged higher in early trading, only to stage a hard sell. As the trading day nears a close, shares of Wayfair have reversed almost all of their gains and may close negative. The technical analysis on Wayfair chart signals a likely topping tail.…
Technical Analysis On Oil:
WTI crude oil continues to hold strong, crossing above $40/bbl today. As a V-shaped recovery is taken as a given by most investors and analysts, price has moved higher from a low of -$40 to +$40. However, this amazing move may be on the verge of running out of steam.…
Shares of U.S. Steel (X) surged higher just a few days ago after talk of a $1 trillion infrastructure deal surfaced. The stock had been rallying for some time into that chatter. After that big pop, the U.S. Steel has done nothing but collapse lower.…
Shares of Beyond Meat Inc (BYND) surged in early trading on the back of a wider product offering as shorts quickly scrambled to cover. The stock has reversed after an early surge and may be putting in a major near-term top.…
Bitcoin bulls have been frustrated as the cryptocurrency has failed multiple times at the 10,000 level. Every time it pops near or just above, a seller comes out of the woodwork to slam it back down. So why on earth is it having so much trouble at the 10,000 level?…
