07/25/2020 Weekend Update

[Cobra]

Down 1 week, the next week has 61% chances to close up.

[Al_Dente]

SentimenTrader, 7/24

[Al_Dente]

NEXT WEEK's EARNINGS ARE CRITICAL:
Tuesday, July 28, before the open: MMM, MCD, PFE,
Tuesday, July 28, after the close: EBAY, SBUX, V
Wednesday, July 29: after the close FB
Thursday, July 30, after the close, AAPL, GOOG, AMZN

LAST WEEK IN EARNINGS:
INTC July 23 EPS beat but gross margins tumbled, stock down, in a “bear market” (down more than -20% from its June high)
TWTR July 23, EPS miss: stock sold off -2.34% Friday
MSFT July 22, EPS beat, stock down, off -9% from its June high
TSLA July 22, EPS beat, stock down, in a “bear market” (down more than -20% from its June high)

[BullBear52x]

From "It is what it is department" Complacent correction is healthy, market got a high tendency to humble a trader from time to times. We are in an early stage of a correction, bulls need to turn this around fast or the selling will only getting worse. key focus is MACD Histogram on a daily chart, a breakout was clear earlier and now a failed breakout is also clear with MACD histogram to confirm it. based on auction house theory, a failed breakout means no buyers at the top range so the traders will have to lower the bid and ask to lower range. in any cases, in week to come I will pay attention to the histogram, a positive reading is a must before I will go bullish. for now down south to lower range is the direction.

High level of complacency lead to a correction, (internals)

Failed breakout from a bullish consolidation phase, see MACD histogram if bulls were to regain a strength. for now lower range is to be expected.

Short term trend is up, now that we are under 5 DMA caution is on the buy side, rips will be sold as long as we are trading under 5 DMA, no LL to called out, "NO BUY", only if bulls can regain a price back above 5 DMA, keep it simple. Peace!

Peace!

[BullBear52x]

Bonus charts, Looking back 20 years, remember EBAY before Tech bubble busted? now the online store giant AMZN, it all will come to the point that will fundamental support their high flying price, let it be Fed induces inflation or growth. more time than not they will fall under their own weight.

[BullBear52x]

Was EBAY then.....just a reminder, we human history not repeat but always rhyme