UPDATE April 25
What time is it?
That's right, it's EARNINGS time!!!![]()
![]()
![]()
I don't know why, call it a hunch, but I think the market wants to go up. Do not be sucked in. This is not a rally you want to own longer than a day maybe two, but definitely not into next week. At the end of this week and next week is some critical FED and economic data. I believe that will be the catalyst down.... But that is next week.
This week, I expect slop and maybe a new high.
That looks like a BULL FLAG to me. And the risk is light. If the price can breakout of 13100 (actually around 13120), then I expect a run to 13350 before resistance. At that point, we would need to follow price action, but after a pause/pullback at 13350, then 13500 should be reachable. The downside is the bottom of the channel, around 12960. If it breaks 12960, then 12800 should be the next support.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/dcdd01d0f73e3cfea380df472bb8fb19.jpg/bigmoo)
*3M beat earnings - and announced 6000 job cuts, and supply chain issues (China relations)*
On QQQ
312.5 should be support. That's the trendline and the 200MA. Resistance is 317, a break of that should also put price above the mid bollinger. The upside target would be ~318.5. That is the upper bollinger. From there, the price can push the bollingers up to the 325 (325 would not happen in one day unless we get a wow day). If 312 breaks, then 309 should be the next support.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/6c3fcc87e7503b0e9b843f8cc61a0c4a.jpg/bigmoo)
The 50MA (green) is moving up, I expect it to cross the 100MA (red) and that should provide some upside movement. If price holds, that is an Arc bottom, which should lead to more upside.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/4a3031635d813fd8b989fecfc8b204e0.jpg/bigmoo)
$Halliburton(HAL.US)$ reported earnings this morning (it was a beat, surprise, surprise) HAL, SLB, BKR are the big 3 oil servicers. they comprise the majority of $VanEck Oil Services ETF(OIH.US$
I currently own OIH and SLB.
OIH had a bullish engulfing day yesterday (big green candle swallowing the previous day), now we need a follow through day today.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/8813a1154b80308e972f0b68518bfecb.jpg/bigmoo)
Closed the OPEC gap on an earnings beat. Now, we should be clear to continue up. Probably to close the gap up at ~52... Again, I will reiterate - I would not own anything into next week, and I don't like holding longer than a day or two.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/aa71e6862a6334508e1ab284ec65a9dc.jpg/bigmoo)
NatGas should be on a long turnaround.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/51c33acfc9ec3814b58a5f7092a8d075.jpg/bigmoo)
Fertilizer/Potash is a NatGas play. I started buying just under 26 (my old average was 21🥲) I only bought 100 shares, I was going to do 1000, but I thought nah, I'll leg gently into this. now I'm going to need to leg faster 😄. heres the thing with commodities - One day they're cheap, the next day they aren't. And yes, this ran to 121 during the last planting season.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/7ad7f89c9ff338608effe1a77e5f2c90.jpg/bigmoo)
Everyone talking about GOLD, GOLD, GOLD
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/d7b1770c34dc327ea4463ef884620203.jpg/bigmoo)
but they should be talking about PLATINUM PLATINUM PLATINUM.
Historically during recessions PLATINUM will surpass GOLD price.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/d746a94d93593a789b17b42dcab70ed6.jpg/bigmoo)
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/80e1713b8847304f88ea6e1755614181.jpg/bigmoo)
Another quick post next week should be a decided direction. The market is churning because it needs to build enough momentum to move down. Buying Puts at close and calls mid day has been paying off, but I think that may end after today, we will see.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/f8b9ef73c40d3d09a1af69feefff998b.jpg/bigmoo)
$Golden Sun Health Technology(GSUN.US$ My little one has a lot of fight to get positive again, but looks to have bottomed, maybe temporarily, but it's a start.
![UPDATE April 25](https://ussnsimg.moomoo.com/feed_image/70624085/4d3f5331784b386d959b6c8c64f19d08.jpg/bigmoo)
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Ping983 : Thanks![pray 🙏](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f64f.png)
Mike Obama : sup with CLF big homie!?
iamiam OP Mike Obama : clf beat earnings, but I think it needs to close the gap at 15.15, I would look for a rebound there.
FFIETOTHEMOON : SLB falling
FFIETOTHEMOON : I tot it’s gonna rise with the oil price?
iamiam OP FFIETOTHEMOON : not necessarily, but I'm looking for a rebound, it gapped down and took out yesterday's bullish candle on oih
活力的羅傑 : Come on, work hard to earn Daihatsu
razo2 : we have GDP Thursday.
iamiam OP razo2 : yep big news later this week
razo2 FFIETOTHEMOON : oil is pricing a recession when supply is concerned. the only reason why oil prices is going up is because the market choose to ignore the recession advice by OPEC+, USD is weaker (commodities go up) and the change in season for oil (take my word winter oil is cheaper than summer oil)
View more comments...