$GlobalFoundries(GFS.US)$ is coming back, break 70 n go higher

$Alibaba(BABA.US)$ share price will recovery soon

$Alibaba(BABA.US)$
1st idea: Short
Target: $132
2nd idea: Buy at $132
Target: $150, $180
The Chinese stock market still does not show any signs of an upcoming recovery. Nevertheless, we do believe that the correction might be over pretty soon.
As for Alibaba stock, it dropped out of the global rising channel it usually moves into and even broke through the median line of the 2nd channel, which is a projection of the main one. We expect the price to come to $130 since it is a global support level and the bottom line of the 2nd channel.
Unfortunately, if a $130 breakout happens, Alibaba will head towards the next support which is only at $86. But we do not believe in this scenario.

$SPDR S&P 500 ETF(SPY.US)$
I SPY with my little eye...a move to the upside!
I see a flag/ pennant and consolidation above the .5 Fibonacci retracement level after hitting resistance at the .618 level. It's due for a pop to the upside this week. Then watch the price to tell us where to go from there.