Hi YXI friends,
Please review today’s chart analysis for GOOGL, BMNR, UBER, CELH, NFLX, and TSLA (ML model signal)
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Table of Contents
S&P 500 (SPY ETF)
SPY is fast approaching my wave (v) target of $690. This could set up a sell-the-news event post-FOMC, in which stocks and bonds could fall together (with yields moving higher). The simple rationale is that in the absence of labour market data, it could be difficult for Powell to sound even more dovish than he already does.
1) GOOGL
Our ML Model has been “Risk On” for GOOGL since mid-May, enjoying an exceptionally strong bullish trend among the Mag-7s.
I see the wave 5 potentially targeting $295 before the year-end.
2) BMNR
BMNR bounced right off our wave (c) target zone of $45-48 last week. Wave ii is deemed sufficiently complete from here, although the overall momentum in crypto has been week.
My wave iii expectation is to target $90+ in the near term.
2.5) Promotion: Crypto ML Signals, Advanced Analytics
Crypto Machine Learning
I run a daily machine-learning model service on Slack for Bitcoin (BTC), Ether (ETH), Solana (SOL), Coinbase (COIN), and Robinhood (HOOD), hosted by Cestrian Capital Research.
Liquidity and Market Analytics
I have also been using advanced crypto analytics for crypto (including alts) on RJ Alpha Dashboard. I am their first official business partner.
RJ Alpha expects a near-term rally in Bitcoin, driven by rising Credit liquidity (with a 1-week lead).
3) UBER
Uber is in an overall bullish trend. However, the latest wave iv pullback may not have completed until it retests the 200-day MA (red line) in the mid-$80s.
4) CELH
CELH is steadily recovering from its dramatic fall of 2024. It appears to be in wave 5 of the upward cycle, which could challenge the $80 target.
5) NFLX
NFLX has all but reached our wave c of 4 target area, which is $1035-1075.
6) TSLA ML Model Signal
TSLA’s ML signal is Risk On today. I do expect a new high in the mid-$500s before the year-end.
Referals
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