In this video, we look at today’s big rip higher after the FED raises rates again another .75% We got over 100 point move higher in the SPX and a whopping 467 in the NQ. Is this the start of a new Bull market? I don’t think so and I don’t trust the move, but we won’t until we get more data points. Another big one comes out tomorrow with GDP where we will look at whether we are in a recession. Lastly, we still have a lot of earnings to go so expect more volatility.
In this video, we look at today’s big rip higher after the FED raises rates again another .75% We got over 100 point move in the SPX and a whopping 467 in the NQ. Is this the start of a new Bull market? I don’t think so and I don’t trust the move, but we won’t until we get more data points. One big one comes out tomorrow with GDP where we will look at whether we are in a recession. The FED says we are not in a recession, but here in the real world, I think we are. Lastly, we go over a crazy end of day trade I did today and look at alternative ways of defending or staying in a trade. We still have a lot of earnings to go so expect more volatility.
In Friday’s free video I told you I thought Tesla was cheap below 800. Monday ended up being soft but slow then Tuesday traded a fair bit below this level, but on Wednesday my plan really started to work out and I don’t think bulls are done just yet.
Back on July 7, I mentioned the bottoming process had begun and showed the price, technical, and macroeconomic reasons for it. In this video, we follow up the thesis with further evidence in the price and data that it is time to be optimistic and opportunistic (two powerful mindsets) and shut out the fear-mongering that does not have evidence. Time to put on the armor of process to protect us from that chatter, all in this video.
The process I use with my position trades is fully explained in this update. I also dive into the macroeconomics that are confirming that we are looking at support in the indices and several key sectors.
Megacap tech earnings & Fed rate decisions… let’s skip all of that and look at healthcare stocks.
