Crude started the day down over 2.6% only to finish positive. The volatility in this sector is off the charts. Nat Gas had a similar showing finishing well off of its session lows. I’ll try to put together a plan for this and more in tonight’s market update.
AAPL gapped down significantly today. If it doesn’t recover soon, then it could drag down the major indices.
With the NQ testing support first, the ES finally listened and tested the 3965 support. The key now is how short term oversold conditions are worked off.
Some bullish signs appearing in key areas of the market, but approaching major resistance zones. Let’s review the risk to reward profile for next week.
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.
In this chop the simple and time-tested fade has worked effectively against both support and resistance levels intraday, here’s how it worked during the FOMC Minutes release today.
In this update I walk you through how I have been daytrading and the best times, which trends on the daily chart are on my radar, as well as the most straightforward approach to decoding inflation and jobs data.
It’s a short week this week but certainly has been a good one. Tonight I’ll review a little but also make plans for the next session or two.
