SPX dipped below the weekly L1 on the quant pivots which is an extreme move, but it managed to close back above. If we get a retest of today’s lows on Friday that can provide a good opportunity for a day trade as we look for a reversal. In this video I’ll walk you through what I’m looking for on Friday to play a possible bounce.
GOOGL and TSLA report tonight, and almost every major world index has daily and multiday squeezes. In this video, I will show you one over/under level on the QQQ to track, and a couple of ideas from the trade room.
The cycle low is in and we got the bounce, but the S&P and the NASDAQ are telling two different stories heading into earnings. Tonight I discuss the 4-hour squeeze in the S&Ps, why the NASDAQ still isn’t out of the woods, and some notable earnings coming up tomorrow. I also cover Bitcoin’s run into its early-August cycle high, and the two liquid proxies I’d use to trade it.
The rankings have us at market neutral, and the $QQQ is still the problem child, sitting under its 21 EMA and 50 inside a daily squeeze with Big 3 sell triggers stacked up. I’m staying patient on the index, but I do like the Bitcoin setup here, enough that I’m buying a couple of micro Bitcoin futures contracts. The whole thing hinges on one level: can they hold the $QQQ above $680?
