No love from Powell
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Archives: Daily Videos
No love from Powell
In this video, we look at today’s action on FED day and review the sell-off after Powell spoke. Powell did not give the reassurance the market was hoping to get and we sold off 150 ES points from the gap up after the announcement. Obviously the market did not like what he said, but what does this mean for market direction over the next week or so? What does this mean for the next month or so and how do you trade it?
What did the FED say?
In this video, we look at today’s action on FED day and review the sell-off after Powell spoke. Obviously the market did not like what he said, but what does this mean for market direction over the next month or so and how do you trade it?
Coming and Going
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Two Critical Charts
Two of the most important and cleanly technical charts I’m tracking right now are the QQQ’s and TSLA. Let’s review the decisions for each and where I’ll be watching for trade opportunities.
Setting up a gold buy tomorrow
Today gold sold off 10 points beyond its historical volatility, so it made sense to wait for a pause. In this update I explain what type of candle I look for as well as the zone and setup for a potential buy. The great thing about gold is that it can be traded with the full size contract as well as the micro contract and even options in the gold ETF. Choose your own adventure!
Trading a Small Account in Volatile Markets
It can be hard to read this volatile market. In this video, Jack walks through how he traded his small account from $500 to $10,000 in 3 weeks, a 1900% increase.
What to do while waiting on Powell?
We daytrade, that’s what. When there is chop and a lack of follow-through from session to session, we shorten the time frame and we focus on the moves in the morning. When a trader can manage both short and longer-term time horizons, they can manage chop far better.
My Trading Plan For The Next Two Weeks.
Although this type of action favors day trades, these are the bigger moves I see shaping up.
Until there is clarity, here is where we look
Between the volatility of the FOMC Hot Zone Wednesday and the dust settling afterwards, there is plenty to look at that is not an index futures contract. In fact, alongside the hawkish policy narrative is the inflation narrative, and many corners of the commodities markets are moving with clear uptrends. Here’s how use inflation and trade around Powell.