Evidence

Microsoft undercut the year-to-date low and got a bounce in here today. I would not be surprised at all to see it kind of settle in next week and then perhaps it continue to move up towards this level... below that though, we have the anchor off of the 2020 low that if it continu

— Brian Shannon - Alpha Trends

it's been in a choppy, uh, uptrend. And, that's the thing is the, uh, the, uh, higher highs and higher lows has been the pattern in here. So, until that changes it on the daily time frame, it's still in a primary uptrend.

— Brian Shannon - Alpha Trends

the stock, you know, it it broke a lower low below that flat to declining 5-day moving average. So, uh you know, based on my rules, there's no reason to be long this in the intermediate term... This is good, healthy action for people who want to get in, you know, after the earnin

— Brian Shannon - Alpha Trends, at 0:00

the market is still in a primary uptrend, and um there's you know, if it breaks back below this low from Thursday after the Fed, then perhaps we see a little bit more aggressive profit taking... But for now, I'm still looking at this market as innocent till proven guilty.

— Brian Shannon - Alpha Trends, at 0:00

it just remains a super choppy market. It's constructive. It made an a higher high here, and we have this as our higher low on the daily time frame. This, however, is going to be the important level for next week. If we break below that, then a little bit more aggressive profit t

— Brian Shannon - Alpha Trends, at 0:00

Nvidia is looking a little bit better in in that it's a nice tighter consolidation on the shorter term, so maybe it could get going for a bounce, but again with the declining 20-day moving average, there are better opportunities out there.

— Brian Shannon - Alpha Trends, at 7:07

Amazon is uh you know, trying it it bounced from where we thought it might, but the bounce didn't hold because it's a bounce. It's in a downtrend below the declining 20-day moving average. And it finds supply right at that uh uh month-to-date anchor. So, this is actually looking

— Brian Shannon - Alpha Trends, at 3:31

Amazon, it's in that zone where it's likely to find some buyers and show support. We have no evidence of it yet because we have the lower highs and lower lows below the declining 5-day moving average. But it's in the zone where you want to start paying attention and think that it

— Brian Shannon - Alpha Trends, at 7:16

Nvidia, though, might be due for a bounce in here. So, we're right at the 50-day moving average and the anchor off the year-to-date low... with a declining 20-day moving average, that's going to be losing some institutional support.

— Brian Shannon - Alpha Trends, at 7:16

Apple held on nicely. But here we're seeing what on Monday the 5-day moving average will rise. So maybe we see this happen. But on Tuesday, Wednesday, Apple has the possibility of giving back some of these gains. This is a large rally here. Don't be surprised if it pulls back. We

— Brian Shannon - Alpha Trends, at 10:34

it looks like Google, here's here's the thing, is this going to be just a shakeout? Next week I'll be looking for it. If it gets back up into this zone right here, then this will end up being a shakeout... Otherwise, right now, as it is, I look at this and say, we broke support,

— Brian Shannon - Alpha Trends

if you got it, hold it, raise your stop, know what your exit strategy is... if you're looking to get involved, then you've got to go down to the very short-term time frames... Catching those buys with a stop under the prior little low, those make them low risk entries. You don't

— Brian Shannon - Alpha Trends

they keep coming out with great product releases from everything I see, and they seem to be the ones that are actually monetizing AI... I wouldn't be buying it anyways with this declining 5-day moving average. So, a little flush and then get it going... What seems more likely is

— Brian Shannon - Alpha Trends

it's not a place to do business because we still see here a pattern of lower highs and lower lows... in order for me to be interested in buying Nvidia next week, uh, I'd love to see it maybe do this, rally up a little bit, that wouldn't excite me, but then if it started to do thi

— Brian Shannon - Alpha Trends

Google still below that declining 5day moving average. So uh I'd love to see it stabilize in here and maybe even just a little shakeout below this low. That that would be really nice to see as a shakeout recovery up to here, create a higher low and then get going next week.

— Brian Shannon - Alpha Trends

Tesla had a big break here recently. It's pulling back down. Let's keep an eye on how it behaves near this month-to-date anchor. But, with a declining 5-day moving average, there's no hurry to buy any of these names.

— Brian Shannon - Alpha Trends

So up in this zone if we can stabilize a little bit better and see this range tighten up then it might be a good bounce trade up to here. But below declining, you know, you look at the weekly chart here we still have a declining uh 20, 31, and 42-week moving average. That's not a

— Brian Shannon - Alpha Trends

The Russell 2000 is still healthy, but continues to be just kind of an underperformer here... it's still holding the month-to-date anchor, the rising 5-day moving average, and this prior band of resistance. It's still in an uptrend. It's not showing the massive performance of som

— Brian Shannon - Alpha Trends

Tesla, it's trying to stabilize in here after this big decline that we've seen this year... maybe Tesla in the next couple weeks can kind of turn sideways, rebuild, and then start its new bullish campaign. This is just noise so far.

— Brian Shannon - Alpha Trends

The jury is still out really is in terms of whether the S&P 500 is going to make the bigger turn and go on to new all-time highs... I'm more open-minded to upside.

— Brian Shannon - Alpha Trends

The NASDAQ also made it past its key level here... buyers are in control... I'd love to see if we could pull back in here... this is what would make it really ideal for a better low-risk entry.

— Brian Shannon - Alpha Trends

If we look at Intel, you know, much better action in here. However, look at the volatility of this. This is really crazy volatility. And if you're buying and holding, you've got a have a a lot of risk tolerance.

— Brian Shannon - Alpha Trends

AMD is behaving kind of it's trying to hold in here. It's basically holding the rising 200 day moving average but can't get out of the way up in here. So you you chase these rallies that are extended, you're generally, you know, look at the personality of it. If you chase the ext

— Brian Shannon - Alpha Trends

I'm in Micron, even though it's you know, it's basically broken here recently.

— Brian Shannon - Alpha Trends

we're stuck in ranges with not much uh you know, structurally changing. So, it's time to you know, continue to exercise patience, trade half risk units, and have lower expectations.

— Brian Shannon - Alpha Trends, at 0:30

The Nasdaq also made some ground higher here today. It broke past this level... but we still have to contend with the anchor off these two highs, the year-to-date orange anchor and the declining 50-day moving average. So, again, structurally, nothing has changed.

— Brian Shannon - Alpha Trends, at 1:30

the Russell 2000, we saw a shake below this level yesterday and subsequent nice recovery. If we can pull back kind of similar down into here and carve out a higher low, then perhaps we start to rebuild a little bit for a move higher, but I'm not hanging my hat on any calls here.

— Brian Shannon - Alpha Trends, at 2:45

Intel bouncing maybe from its 50-day moving average

— Brian Shannon - Alpha Trends

Google is trying it's it's finding buyers along this level. But any amateur technician will tell you shoulder, head, shoulder. We've got a declining 20-day moving average... I don't think it's going to fall apart, but it's certainly gone at least more neutral in the intermediate

— Brian Shannon - Alpha Trends

it is constructive. It's not really quite bullish yet. This market's been kind of correcting through time rather than a you know, price pullback correction uh for the last two and a half months. So, uh, it continues to be constructive overall in a posit, you know, in an uptrend.

— Brian Shannon - Alpha Trends

it is constructive. It's not really quite bullish yet. This market's been kind of correcting through time rather than a you know, a price pullback correction uh for the last two and a half months. So, uh it continues to be constructive overall in a positive you know, in an uptren

— Brian Shannon - Alpha Trends

kind of in no man's land here, isn't it? ... we've got that anchor from that high and this one right here. And we're stuck just below them. We also have a declining 20 and 50-day moving average. We've just run up into that zone... what I'd really like to see with the cues if we'r

— Brian Shannon - Alpha Trends

Same with Palantir. Now, Palantir is down to the anchor from the beginning of last year. Perhaps this is going to be a short-term low, but you know, these are the big stocks and and you know... being early in... Palantir has been, you know, quite costly.

— Brian Shannon - Alpha Trends

don't be in a hurry to buy the Russell 2000 while it's declining... Don't buy the dip. Buy strength after the dip.

— Brian Shannon - Alpha Trends

there's no reason to be a buyer when the 5-day moving average is declining... it's still in an uptrend. It's above a rising 20, above a rising 50, above a rising 200 day moving average... don't be in a hurry to buy the Russell 2000 while it's declining

— Brian Shannon - Alpha Trends

we're below the 5-day moving average... we're still above the anchor off the November low and the rising 50-day moving average

— Brian Shannon - Alpha Trends

I'd love to see it pull back a little bit. Uh maybe towards that 5day moving average, build a little bit of strength, and then be able to continue to move higher. Otherwise, we're just kind of greater in here.

— Brian Shannon - Alpha Trends