Archives: Daily Videos
Run for the Roses
In today’s video, we break down the crazy “relief” rally we had today after the FED meeting and Powell’s comments. With the Kentucky Derby this weekend I have to say today was a “Run for the Roses” as we ripped higher by 161 points in the ES and took out a lot of shorts. Every time I think we have seen the wildest moves, we get even more. Where do we go from here? We discuss the reasons we could have more upside and/or an eventual pullback. We also look at an EOD trade as well as a very cool 8.6 MM trade taken today.
Relief Rally or Disbelief Rally
In today’s video, we break down the crazy “relief” rally we had today after the FED meeting and Powell’s comments. We ripped higher by 161 points in the ES and took out a lot of shorts. Every time I think we have seen the wildest moves, we get even more. Where do we go from here? We discuss the reasons we could have more upside and/or an eventual pullback.
Fed Day Chop Fest
The market chop did not disappoint leading up to Fed announcements. Join Joe Rokop as he covers the market action for the day and even covers some of his overnight positions on the Nasdaq and the S&P 500.
Market Rejoices with the Fed’s Move
Today we heard from the Fed with the rate decision of (+) .50bps and the market made its feelings about that known. The question now is the same as always, “Now what?” Let’s take a look at that in our mid-week update.
From here SPX 4249 is a key level.
Technicals + Order Flow
Technicals + Order flow has me looking for a reversion to the mean/ test of resistance at & here is how I plan to trade it.
The technicals & order flow have me targeting a level to get short but we need to be patient. I think patience right now is important as we head into an FOMC meeting with the expectation of a 50bps rate hike. Which hasn’t happened in a while. If the FED says something that isn’t already priced in then things can be shaken up a bit.
SPY Reverting to the Mean?
With the SPY testing support, closing on a hammer candle (reversal pattern) with +15 million ($6.5B) late buy prints with confirmation today. As long as nothing is said during the FOMC that isn’t already priced into the market tomorrow. The SPY is set to revert to the mean (21EMA) and test resistance at the $430 level. Here is a trade idea you can potentially benefit from.
FOMC Setups to Watch
As we approach an expected 1/2 point hike, what are the trends that could benefit from the FOMC volatility? I have a lot I am keeping an eye on and am sharing those symbols with you in this update.
Trends That Are Still Working
After the late April sell-off in many corners of the market, the dust settled and certain trends have shown themselves to be resilient and that is where we want to focus our attention. Buy the dip is never not true, it’s just that there needs to be an uptrend to do it. And now there are quite a few sell the rip opportunities in downtrends.