Red Arrow Parade
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Archives: Daily Videos
Voodoo Firelines and Symmetry
Major indices have turned down, breaking below the most important of the nearby Voodoo Lines levels. Breaks of symmetry can help confirm that the trend is changing in the moves below those levels.
How low can it go?
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The Weekly Red Reversal Candlesticks Are Still a Drag On Most Markets.
After the huge red candlesticks early in the week, markets just kept getting sold into every bounce. Because of no wash-out candles yet, markets could go lower, but the /ES has good support at 3760.
Incoming /ES 3750
In this video, I discuss what to look out for as we head into the next week. This week’s movement gives me notes of more selling. Let’s be sure to look out for a false flag bullish trap on Monday.
When a Cheap Stock Isn’t Cheap
As AAPL and AMZN continue to slide it may start feeling like prices are “just too cheap” and can be acquired at a discount. I’d caution against that way of thinking, and instead focus on patterns that very much appear ready to break.
What’s it Take to Not Break
Given what happened in Thursday’s session equities appear prepped for lower prices. There’s only a few things that prevent this scenario, and we’ll take that from a top down approach in tonight’s review.
The Big Red Candlesticks Took Indexes to Big Support
The reversal patterns from the last few days led to a sharp sell-off in U.S. and world markets. The area where markets closed needs to hold, or they could go far down to the next levels of support.
Does today’s sell-off change anything?
The weakness in the trend is different than the weakness in chop. Here are the trends and the pullbacks that are buy-the-dip worthy.
What does this sell-off mean?
It depends on where we look. There are not oversold support levels to watch as well as Buy the Dip opportunities. I explain where and why in this update.