June 14th premarket prep

Written By Michael Nauss

Cypto Markets

I always like to mention when I am in a position I am going to talk about. I am currently short BTC as noted on the charts. This looks to me to be a large bear flag. A measure move from this flag would bring us down to 20k. 20k is the top from the bubble in 2017 and this is where I would think we could be defended. This would also be the area I will look to be a longer term investor is we can reach.

I always like to mention when I am in a position I am going to talk about. I am currently short BTC as noted on the charts. This looks to me to be a large bear flag. A measure move from this flag would bring us down to 20k.

20k is the top from the bubble in 2017 and this is where I would think we could be defended. This would also be the area I will look to be a longer term investor is we can reach.

Cardona (ADAUSD) is setting up very bullish here as long as we can hold over this support/resistance line. The strength of this name vs all the other cryptos cannot be understated. I have stop limits in to buy some if we break this downtrending line with a stop under the support line.

Cardona (ADAUSD) is setting up very bullish here as long as we can hold over this support/resistance line. The strength of this name vs all the other cryptos cannot be understated.

I have stop limits in to buy some if we break this downtrending line with a stop under the support line.

Equty markets

Finally after over a month of watching the markets closed over the resistance. Now we remain cautious of a quick failure right under that price but if we dont see it for a day or so I am more confident we are looking at more continued upside.

Finally after over a month of watching the markets closed over the resistance. Now we remain cautious of a quick failure right under that price but if we dont see it for a day or so I am more confident we are looking at more continued upside.

Continued strength in the growth names being shown here and we will notice this trend throughout todays analysis. This is great for us swing traders as these names can offer outside returns when strong.

Continued strength in the growth names being shown here and we will notice this trend throughout todays analysis. This is great for us swing traders as these names can offer outside returns when strong.

Potential inverse head and shoulders here on XLK which is our tech sector with the larger growth names. This is more evidence of growth strength.

Matching with that growth v value chart above both XLB and XLF look like they might be putting in topping patterns. This would be bad for value names like banks and builders.

XLE contains a lot of the more dirty energies out there. We are having a lot of issue clearing this resistance area to the point where I feel a rug pull and new recent lows is likely.
XLV possible topping pattern. These are very rare so it might be nothing at all but if these things break lower we could be in for some pain.

XLC (communications) is looking very strong here. Some of these names can be more boring ones but some can been growth names like FB for example looks like this could join this one.

Communication index (Largely FB and GOOG) setting up a nice bullflag here. More evidence of a turn around in tech names could be incoming.

A huge blow to the meme names today. All seeing hard but none as hard and the leader GME. I think that name might die here and they would switch focus to AMC.

Stocks to watch

BMBL has been hammered since this IPO with no real reason to get involved but might be putting in this higher low after the 8/20 Cross (Common short term momo indicator) Watching over $48.5 and wrong under $43.5

BMBL has been hammered since this IPO with no real reason to get involved but might be putting in this higher low after the 8/20 Cross (Common short term momo indicator) Watching over $48.5 and wrong under $43.5

TCDA has ben hammered over recent months. This would be a revision to the mean play which means that it should be traded quickly and defensively as we know we are countering the major trend. Watching this name over the whole number $5

MRSN has a very long declining wedge going on here and looks like it might have found some support. Needs to break these recent highs around 15-15.5$

DLPN was a high flyer back when NFT’s were a think (remember that?). We had a high volume breakout 2 days ago followed by 2 inside days in a row. Watching over the high of Friday to see if we get some continuation higher.

PRLD finding support at here at $30 with a 25% short float. This name has been cut into third. So a small bounce could be a nice % gain.

RWLK Is a slower mover for a cheap stock but if we great a break of $2 which I’m watching and a move to around $3 thats a great 50% gain.

RWLK Is a slower mover for a cheap stock but if we great a break of $2 which I’m watching and a move to around $3 thats a great 50% gain.

POSH is the one I am watching the closest tomorrow as it has a 27% short float. Over that downtrending line I will get involved. stop under the support line.

POSH is the one I am watching the closest tomorrow as it has a 27% short float. Over that downtrending line I will get involved. stop under the support line.

 

Watchlists

https://docs.google.com/spreadsheets/d/1n0Lkgecm9LDu1j0CeYyDy-ix5BFRVivI4JUYNwnRUs8/edit?usp=sharing

my Thoughts

Watching for a next leg in this market worried about a bull trap sums up my thoughts for tomorrow!

PREMARKET update

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Nothing really changes based on what I am seeing in the premarket. As swing traders these flat opens are good for us so we can watch out positions without worrying about gaps.

Nothing really changes based on what I am seeing in the premarket. As swing traders these flat opens are good for us so we can watch out positions without worrying about gaps.

Michael Nauss
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