[isatrader]

TSLA Attempting a Stage 2 continuation breakout from a Minervini 3C pattern (Cup Completion Cheat pattern). Lacking the required volume so far though. Will check again later in the day to see if it's improved.

       

[isatrader]

COUP - Potential for a Stage 2 continuation breakout attempt from a cup and handle type pattern (3C)

       

[isatrader]

NFLX - Consolidating in a bull flag pattern. Potential for a Stage 2 continuation breakout attempt

           

[isatrader]

Remember that it's a massive week for earning this week. So Facebook, Microsoft, Apple, Google, Amazon are all reporting which makes up 20% of the S&P 500 index and so we'll likely breakout or breakdown of the two range once we get these through.

To see all the weeks earnings go to: https://www.earningswhispers.com/calendar

[isatrader]

Bitcoin (GBTC) is something that has caught my eye over the last few weeks as it attempts to invalidate it's Stage 4 breakdown and move back into Stage 1. If you zoom down to the 2 hour chart you'll see an ideal Stage 2A breakout with stronger relative volume on the breakout and on the up bars following the breakout, and strong relative strength versus the S&P 500 with new highs on the intraday 2 hour chart. 

   

If you zoom out to the daily chart you can see the intraday breakout has moved back up to the 150 day moving average and still declining 200 day moving average and resistance from the end of last year. So that could possibly cause it to consolidate in the range for a while as people try to get back to even on losing trades.

   

Then if you zoom out to the weekly chart you'll see it's attempting to close the week above the flattening 30 week moving average and potentially move back into Stage 1. It's still got a long way to go to get back to a Stage 2 breakout level (more than 40%), but it could present opportunities for short term traders earlier if it holds in Stage 1 and forms constructive base patterns. Plus it's also another alternative asset class to stocks, and so is less correlated to stock index moves much like spot gold and us treasuries, but does still have a 200 day correlation of 75%.

       

[isatrader]

Latest post for the US watchlist is on the blog on the front of the site, which I generally do each night: https://www.stageanalysis.net/blog/25184...5-may-2020

[pcabc]

A few spots:

TECH & BVXV:
       

[Haugaard]

MACD on Dow INDU finally doing a bearish crossover, indicating rally might be over, a leveraged short can be had by going long SPXU @ $15.75
I think the Dow won't go much higher than 24,000 short term, but downside is 7-10,000 points

What is your take on hedging? I'm currently long a few technology shares and I'm considering covering my position with a position in SPXU. 

All the best,
@marcushaugaard