Hi YXI friends,
Please review today’s chart analysis on META, ADA, PINS, SNAP, and ARM.
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Table of Contents
S&P 500 (SPY ETF)
Machine Learning Model (https://share.trendspider.com/chart/SPY/627799brjj7)
I run daily ML Model Signals for SPY to gauge its risk regime. Since early May, SPY has been Risk On (+ve) every day.
1) META
Meta has climbed above the 50-day MA today. With earnings this week, there is a reasonable chance that META has jump-started its wave circle-v, targeting $840-900.
2) ADAUSD
Cardano appears to be in wave (5) of a leading diagonal structure. Inside leading diagonals, waves (4) and (1) could overlap.
Wave (5) could reach $1.6+, as the 1.23 inverse extension of wave (4).
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.
3) PINS
PINS could have created a (1)-(2)-1-2 setup here ahead of earnings. Wave 3 of (3) could target over $63+ at the 1.38 extension of wave 1.
I would personally favour the wave 2 low as a stop to manage risk.
4) SNAP
Since 2022, SNAP has bounced off the $7-8 handle every time. However, the chart looks less optimistic this time around. SNAP could be en route to completing wave 5 of (5) near $6 to finish the entire bear cycle.
(It may well be finally acquired afterwards)
5) ARM
ARM appears to be finally breaking out of its 2-year consolidation zone. The wave 3 target could double the price from here to $350+.
Referals
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