In this video, we look at today’s CPI data and the big gap higher in the market. With this tiny drop in CPI, did the levee break to the upside? Is this the start of a new leg higher or a head fake? In order to figure this out, we need to look at what data is coming up and what it might mean for the FED’s next move. We are in a day by day, data driven market.
A big theme of the past several weeks has been the squeezing of shorts, and housing is another sector that may see some of that in the week ahead.
Mid-week update is to say that we are well under way and I prefer continuation of yet still higher. I’ll lay out the plan in this market update.
As my mother said, don’t believe everything you hear on Twitter.
Losing well in trading is sadly a rare skill. We learn more from a loss than we do from a win. Losing well means knowing you stop and having the discipline to follow it. In this update, I discuss the two trades from this morning’s daytrading session. One winner. One loser. And we still came out well ahead on the day.
Despite much of the pessimistic talk surrounding the market action, slowly but surely the uptrends are forming. Keep this in mind: Crashes have never happened when we expect them. Why would this market be any different? It is time to focus on the known: Yields are heading lower. Tech is in a new uptrend and Crude oil is getting cheaper.
Every trader has their favorite setup, and this is mine! We’ve been a winning-streak since launching our Big 3 signals, but like any strategy, it requires patience and nailing the proper entries. Here’s what I’m looking for in the market to line up the next round of Big 3 trades.
Uneventful day. Maybe the S&P will have one more push? IWM, QQQ, AMZN, leading sectors are overbought but also neutral; we’re starting to lose momentum.