S&P 500 has a path to 4083 Voodoo Fireline
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Archives: Daily Videos
Quick & Easy Adjustment
After CPI data was released it was pretty easy to see there was no longer a focus on being bearish. The day did end up trending pretty well and gave us 2 clean trade opportunities. Let’s review those, along with my favorite pick for Friday.
Banner Day for Bulls
SPX closed Thursday up more than 5% and correlated assets were along for the ride. This should carry us into the November expiration, but some of the best opportunities are intraday. Let’s review how we handled that today and the trading plan heading into tomorrow.
Short setups on my radar
The CPI rally is setting up shorts as the resistance closes in on overbought resistance levels and downtrend retracement levels.
CPI Aftermath
I am not getting bullish at the highs but rather looking at where the CPI is setting up the short entries.
What to expect?
In this video, we look at today’s all day selling pressure and try to figure out which way we are going. We have the big event tomorrow morning before the open of the CPI numbers. This will give us an idea of whether inflation is rising or falling. This in turn will tell the FED what they need to do as far as future interest rate hikes, so this is a big data point. How do we play this and what can we expect?
Tomorrow should be a big day!
In this video, we look at today’s all day selling pressure and try to figure out which way we are going. We have the big event tomorrow morning before the open of the CPI numbers. This will give us an idea of whether inflation is rising or falling. This in turn will tell the FED what they need to do as far as future interest rate hikes, so this is a big data point. How do we play this and what can we expect?
Look Out Below
The market is very weak and sold off into the CPI report coming tomorrow morning. While there might be a surprise move with that, the overall direction is down and I am seeing TSLA lead the way.
2008 and 2022 crazy similarities
Recently the SPY has been following in lockstep the patterns that happened in 2008 before the crash. With CPI tomorrow, it will be fascinating to see if those similarities continue. My read on the UVXY and from 2008 says that we should wait just a little longer before seeing the market really roll over, but it looks like it’s coming. TSLA is leading the way to the short side and I think big names like AAPL and COST are next.