In this video, we discuss the selling we have seen and try to make heads or tails of it. We hit another new low on the year for the SPX, so what does that mean for the overall market? Should we buy the dip or not? The best thing to do in a market like this is to proceed with caution and be very strategic with your trades.
With the market trading at oversold levels, the odds of a short-squeeze continue to increase. Let’s take a look at the “recipe for a rally” that will have to come together for us to see the bulls take this market higher in the short-term.
In this video, we discuss the selling we have seen and try to make heads or tails from it. We hit a new low on the year for the SPX, so what does that mean for the overall market? Should we buy the dip or not? The best thing to do in a market like this is to proceed with caution and be very strategic with your trades. I am trading this the same way I have been and show an example of an end of day trade.
A few of the ingredients to our “short squeeze recipe” came together today, though there’s one level left for the bulls to break to send this market higher. Let’s review the key levels for tomorrow’s session, and discuss a few ways to benefit from some short-term strength.
Getting close to the spot that we’ve had in mind since the beginning of the week. The weekly ES Pivot is 3768.5, which also closes a gap from late last week. This is the area that I’ve been stalking as the next shorting opportunity, and I will explain in tonight’s mid-week market update.
Check this video to see how we played the trend to the upside, getting long intraday and then set ourselves up to get short on the long-term.
It’s not about being right, it’s about setting yourself up for success.
Bonds breaking, dollar cranking — is it the end of times?