We finally got a trending day. The S&P ran straight through the H1 quant pivot and closed a hair under the H2, which puts us about 20 points below the voodoo Treeline at $7,768. That level has rejected price every time it has been tested.
I walk through my DELL targets, NVDA back on the 21 EMA with the squeeze trying to fire, and a third name pinned at a big psychological level. These are bigger picture ideas, so keep them on your watch list.
DELL was heavy all day and closed down 31 points ahead of earnings, then reported a beat with guidance up. I break down why $480 is the only level that matters from here. I also pull up the 10-year and 200 years of rate history to show why 4.8% is not the emergency everybody thinks it is.
While I’m focused on short-term trades while the action is mixed, a handful of the most important tickers in the market are forming squeezes on large timeframes. These can eventually make for some great moves, so let’s dive in and take a look.
Inverse trampoline signals are showing up across the indices just as we head into September, seasonally the weakest month of the year. In tonight’s video I break down Warsh’s hawkish comments, the QE push-pull holding this market up, and why I am taking profits on crypto instead of chasing.
