Tesla’s Bump and Run Pattern Looks Like a Hit and Run
You’ve likely heard of Elon Musk selling 10% of his stake in Tesla Inc (NASDAQ: TSLA). You would think that would be bearish news, but the price has remained fairly resilient. At times, when something sounds bearish it doesn’t get discounted right away. For TSLA, that appears to be the case, but the Bump and…
What is the Oil Market Indicating After Biden’s SPR News?
Today, the Biden administration announced that they would be releasing 50 million barrels of oil from the Strategic Petroleum Reserve (SPR). They also announced a coordinated release between the U.S., India, Japan, Republic of Korea and the U.K. That sounds really bearish for oil, right? If that’s the case, why are oil and oil stocks…
Fed Chairman Powell Retained as Investors Search for Their Happy Place
Biden announced that he will nominate current Fed chairman Jerome Powell for another term. The S&P 500 turned bidless into the close as gaming stocks fizzled (EA, ATVI) and DIS pulled their annual membership for Walt Disney World…
WFC Option Traders Go Bear as Bidless Beast Appears
If you were following the market into the close, things didn’t exactly go that smoothly for the bulls as the "bidless beast" appeared and the S&P tested new lows. Prior to the sell-off, Wells Fargo & Co (NYSE: WFC) saw a large option trade appear that put in it’s top about 30 minutes before the…
Bitcoin Taproot is Live & Here’s What You Should Know
The activation of Bitcoin's Taproot upgrade went live this week. The update comes just as it appeared that Ethereum was about to overtake Bitcoin. Taproot represents the largest update in four years and sets the stage for Bitcoin smart contracts. The upgrade is a big deal for Bitcoin and may maintain its preeminence in the…
Massively Unchanged Finish Hides Strength in Utilities and Energy
Not exactly the most exciting day as the major market gauges finished massively unch'd or rather unchanged. While the market is treading water, the Utilities and Energy sectors finished strong along with other significant option activity. (PINS, MNST, PAGS, CLOV, APP, XLE, XOP)…
Hawkish Fed Helps Metals and Money as Infrastructure Reenergizes EVs
The market may be starting to listen to the Federal Reserve as today's statements from the heads proved positive for gold and crypto. Metals UOA also materialized in a mixed day with the S&P 500 finishing higher alongside the VIX. EVs seemed unphased as the stimulus had them advancing nicely on the day. (GLD, FCEL,…
Candlestick Patterns 101: Separating Lines (Bullish)
Yesterday, I posted on the bearish version of the Separating Lines pattern. Today, it’s just for the bulls! Separating Lines (Bullish) Basics The concept is simple for the Separating Lines pattern. The bears take control for a day within a bullish trend, put up a longer marubozu candle, and the bulls take charge the next…
Candlestick Patterns 101: Separating Lines (Bearish)
Often times when price reaches an inflection point, there is a degree of balance that is exhibited in the price. However, that is not the case with the Separating Lines candle pattern. In this bearish case, the price is reaching a euphoric peak before quickly falling into the valley. This sharp reversal is a quick…
TSLA Motors Ahead & Powers Other EVs to Highs
How high can a junk rated trillion dollar company go? That's a question nobody has answers to. However, as Congress weighs the next spending package and TSLA opens up their EV charging stations to its competitors, it's lifting the entire industry. (TXRH, DDD, FCEL, BB, RIVN)..