Go With The Flows
We had a nice setup in TSLA today. It may or may not continue into tomorrow, but these are levels and trades I want to make sure you’re aware of.
We had a nice setup in TSLA today. It may or may not continue into tomorrow, but these are levels and trades I want to make sure you’re aware of.
The weakness in the Dow Jones Transports yesterday was a great tell other indexes would follow. But with the $DJT rallying today, all bets were off on the downside.
Many times, the biggies that have earnings, if they open up, trade back down to unchanged, as traders want to “flatten before the close”. It worked great today in LRCX, META, and others.
Today the S&P and VIX gave important cues for the bulls. While earnings season is still underway, the S&P managed to get above a key level while the VIX manage to get back down below another.
In this video, Chris Brecher examines the market’s rebound from oversold conditions, posing the critical question: Will the markets break through resistance levels or resume their downward trajectory?