These Stocks say - HIGHER 🚀

All right, there's some very bullish stocks out there. I've been bullish on Nvidia. I'm going to give you some fresh Nvidia analysis. Where is this run going to end? Well, on the charts, I don't see any slowdown. I don't see any rejection wicks, which means it can climb higher. I'm going to give you some Nvidia analysis today. We're going to re-examine the spy and what could be happening because if we get a good understanding of where the spy is going, it's going to tell us how much more time we've got for bullish stocks to continue to run. And there's a handful of stocks that are quite bullish right now. INTC was a beautiful trade for me. I got in at around $88.40. It hit $93. I will tell you for the time being, tighten up your stop loss on INTC. I just wanted to shout them out since they were in yesterday's video. But let's get into Bitcoin. So, the bulls are starting to be very loud right now on Bitcoin. CZ of Binance predicted that Bitcoin will overtake gold this bull run, which would mean that Bitcoin would be $1.5 million a coin. Bernstein updated their Bitcoin target, saying 125K this year, a 300k Bitcoin by 2025 and a $1 million Bitcoin by 2033. Folks have got those rosecolored glasses on and are smiling, thinking about how they're going to get rich with Bitcoin in the days ahead. Coinbase expanded their Bitcoinbacked mortgages because crypto is so stable, you should bet your house on it. And of course, Kathy Woods making the rounds, saying that Bitcoin will get to 1.5 million this cycle in the next four years. And there are rumors that the US Senate has already passed the Cryptoclarity Act behind the scenes and that they're going to officially pass it on September 15th for the public. It's all been worked out. This will be good for Bitcoin. Bitcoin can continue to pump with this type of positive news. So, it brings me back to the original question. Is the Bitcoin bottom in or not? Is there a technical line that we shouldn't cross back above? If there is no more downside, what do I think is going to happen? Well, let me just kick things off. I'm going to take you into the Bitcoin chart and I'm going to show you what it is I'm watching and what I'm waiting for that's going to give me more confidence to buy more heavy and to believe that the lowest lows are in the past. Let's go check out that chart. All right, here are some things I'm watching for in Bitcoin. The green is the 50-day moving average and the red is the 100 day moving average. And we're on the daily time frame. And historically, the winter has never been over until this 50-day moving average crosses back above the 100-day moving average. The winter has lasted during the entire time that that green line has lived underneath the red line. And you can see as of this moment that green line has pulled up quite a bit but it has yet to cross over. And you can see that in the past after it had pulled up it then faded the red line again and then it pulled up even closer. Looked as if it was going to cross and faded the red line again. Now we are curled up but we've officially not crossed yet. And that's one of the most important mile markers I'm personally going to be watching out for for me to be more confident that the bottom is in. Now, the very next thing that happens after this green line crosses the red line is that price that pulled it up will begin to consolidate and back test it. After that crossup occurs, it will spend quite a while going sideways for 2 or 3 months before going on the next bull run. Now, this next point's going to be even more simple, and I like to keep the chart simple. It's all about lower highs. Okay, so right here we have a lower high that we have to get above which we're not above yet. Now, it doesn't mean that we can't get above it, but the trend remains down when you have lower highs and continued lower lows. If we made a lower high anywhere here around this 81K and we couldn't get above 82,833, that is this high right here. If we cannot get above that, well then we're going to be making a lower high. And if we make a lower high, then it's very likely that we'll go on to make a lower low. This is very basic charting. But there's no chart that's immune to the basics and the fundamentals. And you don't want to get caught up with stories and forget or overlook the fundamentals of charting. Okay. Now, the next thing I want to talk to you guys about is how does Bitcoin price perform when we're in a bull run? How do we know that coming off of these lows and this nice spike up isn't the beginning of a bull run? Well, let's go back in time and look at how it performs. The type of moves that it makes when it officially, this is an example right here. That green line eventually crossed above the red line and then price continued to come back to the red line as a point of reference before the bull run began bouncing off of it a total of three times. Even one time not bouncing off of it, consolidating for a little while and then crossing back above for the very last time before it went on a huge move higher. Now, the next thing I want to point out to you is the type of percentage moves that Bitcoin has when it's officially exited the winter, consolidated, and is ready to run. The very first move took it from 25K all the way up to 40K, which was an 88% move. It had a little bit of consolidation. It didn't fall back much at all. Never came back to the red moving average line. And after that, we got another monstrous move. that one being around 87% and again being done in under a month. So the type of things that we're looking for here, this move, even though it was pretty strong and exciting for Bitcoin, the fact is it was pretty shallow. So far, this move is only 28%. Okay? And so this is not as big of a deal as you might imagine it to be. We don't have the green line above the red line. And remember, when the bull run begins, the green line will live above the red line the rest of the time until it finally hits a brand new all-time high. We don't have the technicals lined up to believe that we're in a bull run. We've simply come up off the lows. We've not made a higher uh high yet. We could potentially reverse here and make a lower high. But here's what I'm imagining will actually happen. Clearly, this is different than the past. It wouldn't shock me if we actually made a higher local high and got above that level of around 82,333. And that would cause a lot of people to believe that the trend is reversed and we're going higher and they're going to come piling back in. They're going to use leverage and they're all going to get wiped out. So, those are my thoughts on Bitcoin. I also want to highlight that the last time I spoke to you about Bitcoin, I showed you that every single cycle, it took Bitcoin 365 days to find a bottom and build up the structure, the type of structure I showed you before having those really big months where it shot up 80 to 90% month after month after month. None of that's in place right now. So, there's your analysis on Bitcoin. Let me keep moving ahead and look at the spy with you. Okay, I haven't shown you this ascending channel in great detail before, but you can see that we have touches on the bottom. And this is important. When price respects structure, it establishes the validity of structure. We've got a touch up top here. So, we've got three touches on this large ascending channel for the spy. And I want to highlight that it touched the middle part of the channel repeatedly and it held it as structure. The middle is the most important part because if you get down to the bottom half of structure, I always tell you that that's where the bears live. If you're in the top half of structure, that's where the bulls are dominating. So if this structure is something that the spy price is respecting, the fact that it reversed at the middle shows that the bulls are still in control of the spy. Now 771 was a critical level. It's one of our key triggers on the chart and we closed right at it today. So, we're looking for another candle to open and close above 771. And it brings into focus a very bullish and powerful move that could take us up to the top of this channel structure closer to 783. These are the targets that I've had on the table for the last couple weeks. That's an important fib level where we could see some rejection. Then we could come back and test this descending line of resistance, this price of 753 and the bottom of our large overall channel where we would have a hard bounce and push all the way up to 800. That seems to be the best case scenario path that the spy is on. Hit that like and subscribe to get the next spy analysis chart. Okay. Also, this is the most important thing I wanted to show you and that's the RSI, the 60% level. Because if momentum cannot get above the 60% level, it's not really in a stage of high momentum. Let me show you that RSI cross above 60% is the type of fuel the market would need to get all the way up to that fib level of 783. You can see that this has been an area where the market has rejected numerous times. So, it wouldn't shock me if we don't get above this 60% and we do reject. But since we're sitting on it tonight, we should know by tomorrow or Monday, the latest. If tomorrow was a very flat day, then the market could be toying with us and we would have to wait until Monday to find out. But if we shoot up above this 60% tomorrow, it tells me we're going to have a strong jump going into next week and 783 is the end destination. What do you guys think of that? Now, to balance that out, I have to talk to you guys about the VIX. The VIX is so calm. It's dangerously calm. Let me show it to you guys. We're sitting at $14.51. Now, I've pointed out many times. You can spend a couple days down here. You've we've done it in the past. We're doing it right now. But always when we get this calm, the market is eventually triggered to a violent sell-off. And we've already now got two to three days sitting here between the 14 and the $15 mark. It means the market is going to choose violent soon. It means the market's going to sell off and move towards fear. Let me know what you guys think in the comments section. Okay, I talked with you guys yesterday about service now. And I told you that this was going to run up to 136. That was our final destination, but the candles still look good. So, I want you to pay attention to this. And I'm going to show you the targets that we are still watching on Service Now. Okay, we finally hit my target. I told you the last time we back tested 117 that we were likely to come back to this local top and then continue on to 136. Well, today we got it. Now, this is a giant double top, but we did not end with any kind of a sellers wick, which means that in the final stages of this extended move, this can absolutely rip higher. And the moves are going to occur after the market closes potentially. Now, I'm not predicting this. I'm just telling you that one, you could take profit. We hit 136. I called that out all the way back here at 103. So, massive move. However, it's very possible you see this ascending line of resistance with multiple touches. It's very possible that we could be making a late stage move pushing the price of Service Now all the way up to $152. There's definitely room for Service Now to hit 152. And this candle that I'm looking at right now, even though it's sitting right beneath resistance, may not be the end of the move. So, for sure, tighten up your stop loss beneath 136, but get prepared. There could be a move all the way up to 152 coming for Service Now. You've been warned. Service Now is an absolute rocket ship. Okay, let's take a minute and go look at the Nvidia chart. We've got a neckline there, which means we've got a potential double top, a giant cup. I pointed it out to you guys in the past. What comes next after you get a full cup formation? Well, you get the handle. Let's go into the Nvidia chart and look at what that might mean. Kind of similar to what we're seeing with Service Now, there's the potential to get up here to 235. I called that told you that if we got above 217 it would be 227 and then 235. Now 227 is an area where it could face resistance but it didn't. It pushed right through and it's closed above. If tomorrow we open up above 227 it means that 235 is 100% still on the table. Now this is in my opinion a giant cup that's getting formed here and that will officially become a double top and a cup when it hits 235. And when that happens, I think it's going to face some pretty serious resistance and we could get what I've said is the handle, which would be a move back to 227 and then we'll have to analyze it from there. But what do you guys think? Is that not a beautiful cup and handle forming on Nvidia? It means there's still room higher for Nvidia. And what I want you guys to take away from this is that stocks move slowly. They train you on having lower expectations and then they just run run. That's what we're seeing with stocks like Service Now. It's what we're seeing with Nvidia. And you don't want to underestimate them and wait for them to slow down because you'll miss the entire move. Let me know how you're handling some of these stocks. Peace and blessings, my friends. Don't sleep on the stocks with Josh Discord. I'm going to be traveling, so I may not do a video over the course of the next couple days heading to the West Coast. I'll see you soon. Take care.