In this video we look at the garbage market and talk about the trends or lack of trends in the current market. How do you make heads or tails out of this? I discuss how I am trading and it is working, but it is a little more work than normal.
It’s still hurry up and wait for this market until after the holiday weekend. So, in this video, I discuss being early to what could be a surprising reversal.
There are a few things that have me looking into Honeywell for tonight’s video review. The daily Squeeze and the proximity to earnings are the foundation of the idea and with a spread strategy that’s shown an edge over the past 2 years, we may have some opportunity over the next 2 weeks.
We are obviously below the +20 million late sell prints on the SPY at 458.62 and the recent +10 million late sell share prints at 448.56 that just occurred on the last Friday. To me, that paints a picture that the path of least resistance is to the downside, for now. With the SPY below prints and back below the daily 50SMA here are some good looking bearish ideas to add to your watchlist.
FB appears have a seller that unloaded 3.1 million shares at 222.95 over the course of 2 days. With price breaking support & back below all key moving averages with a larger seller at 222.95. This combination of order flow and a technical setup puts FB at the top of my list for a great looking short.
The market may not be behaving in the places traders would like — S&P, Dow, NASDAQ — but it’s all about finding the symbols with the path of least resistance, and that is what we take a look at in this update.
Let’s kick it old school with some basic setups that continue to work: Where can we buy the dip? Where can we sell the rip? And which two 50% retracements are looking interesting?
In a falling knife environment you have to be careful calling for a bounce, but AMD has a pattern that’s worth looking at and has me considering a specific options strategy over the next few weeks.