HOOD's momentum has turned negative and a cycle bottom is expected Nov 9–Dec 18; the next daily cycle is expected to rise to resistance at 106.83–114.43. Price dipped below support without a close below. He will watch for a bounce; if it fails, it is a selling zone and later-winter decline.

The next indicator we will look at is Robinhood Markets. Here we have cycles that are only 17 candles long . As you can see, these courses seem very consistent. We have surpassed the peak of the previous cycle, reaching a 78.6% extension.

Now, the momentum turns negative, with a bottom in the cycle expected between November 9 and December 18 within this timeframe. The price dropped slightly below the support zone, but did not close below it. No real technical damage has occurred so far.

Let's take a look at the daily chart. This is our passive configuration course. This means that the next daily cycle will see a rise towards a resistance zone. If we move to the correction level, this may be the lowest level of the daily cycle.

We don't know that yet, but we can identify a resistance zone, where the lowest level will be 106.83 and the highest level will be 114.43. I will be watching this area for a bounce, and if the bounce fails, this will be a selling zone, followed by a decline later in the winter.

Should I warn you about the upcoming earnings announcement? In a few days, at 10:27.