Turning out to be a fantastic week for our Harmonic traders!.
The twitter post midday on Oct 6th proofed to be, subsequent to the opening on Monday, the Low Of the Week and the first additional buy opportunity since the Monday open.
Then on Oct 7th yet again we alerted on the Low Of the Day; a 2nd buy opportunity;
So with today’s Fed (non)action SPY broke above the 161.8%XA target on the 30min chart, and briefly touched the previous 38.2% retrace of the daily chart.
Looking at the daily chart, we see a possible CD PRZ target around 207.2, inline with the 78.6%XA. However from point B 202.9, to about 204 could be heavy resistance.
We’ve had a great week, so for tomorrow I’ll play it safe, I’d suspect it would come down to test the 161.8%XA at 200. But will look for new patterns on intraday charts.
reached its AB=CD target on Monday but dropped below it quickly there after.
The pullback since Monday’s high was sufficient in order for the indicator to plot a new C point. It’ll have to hold above 92.5 on the 30min chart to consider a CD leg higher.
last but least, wow what a move.after they announced a subscription fee increase.
Monday IT reached the 110-111 PRZ area as mentioned in the Sunday post. The pullback just exploded to the upside today, and in after hours touching the 88.6%XA.
The discussed 115/120/125 call butterfly earnings play is looking promising. It was still trading around $0.40 – $0.45 today. By Monday or Tuesday we should start seeing some gains showing up if NFLX continues on towards 120.