Thursday we gapped down on index’s and most stocks, which was a good opportunity to take profits on an overnight TSLA put swing. When the market gaps down into support + a steep short term downtrend has formed, it’s more of a buying opportunity than a short opportunity. Interestingly, IWM and SPY gapped down into…
Good morning ladies and gents. Yesterday we saw follow through of Turnaround Tuesday’s bearish engulfing candles with sell pressure on the index’s, and as a result on most underlying stocks. As of this writing, 830AM, we’re currently seeing a gap down across the index’s and most stocks. As someone who is swinging a put/short position…
One reason this market, especially QQQ (Tech) has been struggling is that the 8EMA is below the 21EMA on the daily chart. This has put downward pressure mixed with choppiness in between. It’s made it tough to trade on the long and short side overnight. In my opinion, the market is currently fit for day…
Good morning all! For QQQ we’ve been in a downtrend which started Feb 16th, and it affected tech and momentum stocks the most. During this time, oil, banks, retail and airlines outperformed. In a healthy market, money should be flowing from one sector to another. When we see ALL assets begin falling, that’s a warning….
Good morning y’all & Happy Holidays! Reminder: shortened trading week. Thursday 12/24 (Christmas Eve) market closes at 1Pm, Friday 12/25 (Christmas Day) market is closed. As of this writing 8:42Am most stocks are down pre-market. The main exception are bank stocks – due to Friday after market close the Federal Reserve came out saying they…
