March end of quarter shenanigans are behind us. The two weakest indices have hit their respective overbought resistance levels. If the last two weeks was all about the bulls, the bears are done waiting and are ready for their turn.
Stocks closed out the first quarter of 2022 on a rather bearish note, but I think it’s a flush that could see a quick bounce. If Thursday’s lows remain intact I’ll be watching for this retracement overnight, then see where we’re at before the employment data is released.
While trying to guess what tomorrow’s economic data brings to the market can be a tough call, we’re technically setup for a bounce. If that bounce does not happen, that’s where we need to be willing to change gears and possibly rather quickly.
As the macroeconomic trends are set and not many data points have changed the messaging or policy for the FOMC, it’s time to look at trends that are working right now and also remember we do not have to trade the indices and actually there are setups outside where the broader averages are going next.
In this video, we look at the current rally of about 500 points in the last 15 days. We have definitely turned the bearish corner and the market looks good, but this rally is beginning to look extended to me. We go over the indices and levels where we may fail from, or targets we may reach if we do keep going higher. How do you trade a market like this? Very carefully, and in this video I show an example lotto ticket day trade I set up today and go over the reasoning.
In this video, we look at the current rally we are having and it is beginning to look very extended to me. We go over the indices and levels where we may fail from, or targets we may reach if we do keep going higher. How do you trade a market like this? Very carefully.
Tomorrow will mark the end of 2022’s Q1. In tonight’s video I’d like to set up a plan for how I plan to trade the final day with both a bullish and bearish scenario complete with targets on both sides.
In this update we dive into the best sector within the indices to focus on, how I am trading the crude oil narrative, which currencies to buy and sell, as well as which two indices I am most bearish.
Homebuilders were one of the hottest sectors of the past 2 years, but the glow of new homes has quickly faded and likely has further to fall. Let’s look at that within the scope of XHB and a few of its primary components.