After the markets once again failed to break above weekly resistance, it is looking like the path lower is very much intact heading into the new year. Should the markets continue this downtrend, I believe this weekly squeeze in $AAPL could be one great spot to pursue short positions.
Heading into 2023, the structure of many key time frames continues to suggest that the path of least resistance for the market is to the downside. One setup that I’m looking at for bearish opportunities is the weekly squeeze in $AAPL. Let’s take a look.
In this update we take a look at the macroeconomic reasons that there could be a Santa Rally as well as when and where we will look to get it.
This is what all of the data amounts to: What will the FOMC do next and why? With GDP and PCE coming up this week there is plenty to watch.
We’ve seen a lot of these 4 or 5 day selling sprees find support. Is this one different or do we once again look for the bounce? Let’s take a look in tonight’s post-market review.
Silver continues to look interesting. Nat Gas got hammered but I’m buying it. Coffee survives the covered calls. Bonds are a patience game. Rice gets the nod and moves.
We started Monday’s session with an eye for lower prices. Now that those targets have been met, is it time for a bounce? I think there’s a fair chance, but I’m going to let price prove it to me first.
The SPX and NDX are close to filling their gaps from the positive CPI report in November. I will now be looking for stocks already at support, and showing relative strength, for buy ideas.
AMZN has several different technicals and time frames that look weak and could spark a new run to the downside and in turn could create new lows for the year. In this video I walk through the charts and data and talk about a couple of different trade ideas to consider to play the move lower while keeping risk small.