This market is at a decision point and could depend on AMZN earnings. If the market is disappointed and starts to sell off… I talk about a bearish trade idea on SPX to consider. If AMZN, and in turn the market, can get a bounce higher, then I walk through a couple of longer term bullish swing trades to look at.
With the GOOGL volatility and anticipation for FB earnings, it made sense to focus on the shorter term timeframes for more nimble opportunities (after NFP Friday is really the hot zone we want to capitalize on). The S&P set up an ideal exhaustion setup after chopping for the first two hours of the day, but knowing that there was support and an oversold confirmation, it was easier to get long and stay long the S&P.
Tech stocks have been getting bludgeoned for weeks, but AAPL was the first to enter the 21+ club. 21+ referring to the daily mean, and one way of assessing the swing based trend. MSFT wasn’t far behind, and if we can see semis to do the same, bulls may have a little more work to do.
Check out this video and see how the Strikezone put up big numbers again today despite the market’s insatiable appetite for chop and volatility. See why Joe favored equities to start the day, but then shifted his risk into crude oil to finish the day.
In this video, we look at the big moves we have had as we get February started. We have had a lot of action from the indices as well as GOOGL and FB. Tomorrow we have AMZN and then Friday the big event of Non Farm Payrolls. Lots to watch in the next several days, so buckle up!
In this video, we look at the big moves we have had since the beginning of the year. We dropped down over 500 points in the ES and then back up over 300 points in the ES in a very short period of time. This week we have had a lot of action from the indices as well as GOOGL and after hours today, from FB. Tomorrow we have AMZN and then Friday the big event of Non Farm Payrolls. Lots to watch in the next several days so pay attention and buckle up! It is sure to be a wild ride.
