Last Gasp?
Netflix has been grinding at resistance for over a week with no apparent headway.
With stories like this, all the ‘good’ news may already be out (not advice, not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
They Sell … Wall Street Buys
The earnings release tells an interesting story, link here.
After all’s said-and-done, CRWD still has a negative P/E.
Analysists are optimistic, while the insiders sell millions-worth (not advice, not a recommendation).
A push above resistance (blue line), puts CRWD in Wyckoff Up-Thrust position.
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The Danger Point®, trade mark: No. 6,505,279
Is This It?
Is the A.I. story, over?
As Ox Talks says here, the never-ending, upward move on any kind of news, may finally be at an end (not advice, not a recommendation).
Looking at the chart, we see after all-time highs, price action drifted sideways for months.
The deep retrace before the false breakout, gave a clue that supply was building.
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The Danger Point®, trade mark: No. 6,505,279
One Side, is Exhausted
Today was the day when the airline sector was supposed to resume its uptrend into a (possible) new high.
Early in the session, that move has failed (not advice, not a recommendation).
Instead of moving higher, price action printed a new daily low.
As Dr. Elder said years ago in ‘Come Into My Trading Room‘, when a set-up fails, at times, it’s best to exit (if positioned) and re-enter in the opposite direction.
Airlines Sector, Daily
Last Friday’s action was a reversal bar with a higher close. The inference was for continuation to the upside.
As the arrow notes, that move has failed.
The benefit, is a well-defined stop (if short); that is, today’s session high (not advice, not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
New Weekly Low
The weekly chart of Paccar Inc. shows a new weekly low off an up-thrust condition.
In addition, as can be seen from the lower blue support line, we also have a repeating pattern, link here (not advice, not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
Test, Complete?
The last update on Delta, link here, said there’s a possibility for an upside test.
Looks like it’s here.
Today, price action net upward progress, appears to have slowed (not advice, not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
Struggling, Above Resistance
Once TXN pushed past resistance, upward net distance has slowed.
Daily close chart, at left.
Now, we’re near all time highs.
For the session, price action printed higher but could not close higher (not advice, not a recommendation).
Prior updates on TXN, are here and here.
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The Danger Point®, trade mark: No. 6,505,279
Fibonacci, and MACD
Entegris reported earnings last week, on the tenth.
Market response was to launch into and up-thrust condition along with hitting the top of a terminating wedge, as well as printing a Fibonacci 161.8%, projection.
Technical details (up-thrust, removed for clarity) are shown on the daily chart below.
Entegris Inc., ENTG Daily
We’re looking for a new daily low at the next session (not advice, not a recommendation).
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The Danger Point®, trade mark: No. 6,505,279
Another, ‘Repeating’ Pattern
Lattice broke out to all-time highs on its latest earnings; here, here and here.
If you believe the press, it’s ‘buy’, ‘buy’, ‘buy’ (not advice, not a recommendation).
If we look at the actual truth, the price action, we (potentially) see something else.
The chart below, shows we’re at The Danger Point®, where it won’t take much to go either way.
Lattice Semiconductor LSCC, Daily Close
At this point, LSCC is in ‘up-thrust’ position.
Being at that location, does not guarantee a reversal.
It says, we’re at the point of instability. Price action needs to decide who’s in control, bulls or bears.
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The Danger Point®, trade mark: No. 6,505,279
‘Test’, Next Week?
At this point, the Delta Airlines breakout has failed.
Friday, the current decline slowed, which implies that next week, may be an upward ‘test’ of resistance (not advice, not a recommendation).
The failed breakout was observed in real time and traded to the short side as DAL-26-01.
Covering of the short was on Friday, with a 6.29%, profit.
Stay Tuned
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The Danger Point®, trade mark: No. 6,505,279
