Happy Thanksgiving eve, traders! In this video, we’ll discuss bigger picture analysis and share some light on what we can expect for the next two weeks and into the end of the year. We’re excited that the S&P 500 (ES) reverted to the mean after hitting the 3+ average true range (ATR) for the second time year. We are seeing a beautiful daily squeeze set up, which we will use as our next compass.
Follow-through in any market relies on structure then pattern and here’s what is setting up for the indices as November is winding down.
I am bullish dollar but also gold and silver. And the 10-year bonds are still in a downtrend.
As the markets get more volatile, it’s important to understand what a normal pullback looks like vs. the end of a stock’s run.
Tendencies are not trades and Seasonals are not setups. There were a lot of reasons to look for some resilience this session, but it just did not organize. What was the first clue? I walk you through a simple but powerful level to watch each day.
Stronger pullbacks make for great dips, as long as structure precedes strategy. Let’s take a look at what is moving this market.
Lovesac has some pretty comfy furniture, and a lot of people betting on the ticker trading lower. However, it has a great daily setup, earnings and high short interest. Here is a look at how I may trade it.
Today we saw more volatility than what we have seen in awhile, with high growth stocks, particularly names like NET, NVDA, SHOP, and more taking it to the chin. Will it continue into tomorrow? I’m watching for a few key factors that’ll tell me which way this could break. Let’s talk those tickers, along with NFLX, AMZN, MSFT, AAPL, and more.
Sure, not all Tuesday turn around, but the NASDAQ sell-off into the Monday close could present an interesting fade. Here’s the setup.