Entering the new quarter
This market definitely wanted to make some bears out of traders this week. Turns out—the universe has other plans. I’m talking about the key level of us closing above 4500 in /ES, and more!
This market definitely wanted to make some bears out of traders this week. Turns out—the universe has other plans. I’m talking about the key level of us closing above 4500 in /ES, and more!
When the market rallies on high volume, generally the semis are one of the first to take flight. AMD & NVDA are two of my favorites, along with SMH.
I’ve been waiting to see decent volume behind a breakout, and today it finally came through. The S&P broke the 4500 level, MSFT breached $300, AAPL breached $170, GOOGL breached $2800, and more. This sets up the indexes for continued rallies. However, there are still many short opportunities, which we will discuss as well.
Futures traders can supercharge their trading. You can have your pipeline full of opportunities when you are able to connect the dots between what is happening in this macroeconomic environment. Fluency and fluidity between multiple asset classes.
A thorough look at the week’s movers by way of our unique 40k foot view of sector performance, macroeconomic trends, and where we are looking for the best setups.
The S&P 500 came right back to our first support area right at the end of the day with no time left to trigger a long. So is this a night to trade the long in the futures for a possible gap back up tomorrow?
In this video, we look at today’s market action and discuss the /ES /SPX pullback from the face-ripping 382 point rally in the last week. We discuss how to trade this type of market and where we may be heading sooner and also later.