Hi YXI friends,
Please review today’s chart analysis on SPY seasonality, AMZN, Bitcoin, IREN, DASH, OSCR, and TSLA ML Model.
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Table of Contents
S&P 500 (SPY ETF)
SPY just did something it’s accomplished only once in the past 20 years — six straight positive months from May through October.
The last time that happened was 2017, when November added another +3.1%.
And over the past decade, November has been red just once (-0.8% in 2021).
1) AMZN
AMZN popped again today on news that AWS has reached a $38 billion agreement, under which OpenAI can access hundreds of thousands of state-of-the-art Nvidia GPUs.
Open AI and Nvidia deals have become the alchemy for share price pops in the recent weeks across the tech space.
In terms of the overall price structure, AMZN is trading in wave iii of (v), with room to stretch towards $265 directly before a retrace.
2) Bitcoin
Bitcoin is retesting a well-tested support region (highlighted in green). The current price move could still be in wave (ii) of 5, which has already tested the 0.786 retrace of wave (i).
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3) IREN
IREN’s 5-wave stucture since 2023 forms a leading diagonal pattern. This means all 5 waves experience an A-B-C structure.
Currently, IREN is likely in wave C of (5), which could extend to $88 before potentially topping.
4) DASH
DASH has enjoyed a powerful run-up since 2023, now likely in wave circle-iii of 3.
Wave circle-iii is typically the strongest leg of the cycle, with the potential to reach $470+ in the medium term (1-year +).
5) OSCR
OSCR touched the shallow end of our target zone for the wave (c) pullback today.
While there is room to move lower towards $16.50, the majority of the correction is likely behind us. We want to see the green box hold for the rebound before mapping out the next phase of the bull move.
6) TSLA Machine Learning Signal
TSLA’s ML Model Signal is Risk On today.
Referals
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