The Roller Coaster Continues
In today’s video, we look at the crazy price moves this week from Chinese real estate to the FED and everything else in between. Is the craziness over, or just beginning?
In today’s video, we look at the crazy price moves this week from Chinese real estate to the FED and everything else in between. Is the craziness over, or just beginning?
In today’s video, we look at the crazy price moves today after the FED meeting as well as over the week from Chinese real estate troubles. We have big cracks in the ice for the market with this latest downdraft and now we need to figure out: Is the craziness over, or just beginning? We also do an update on ISRG and PYPL as well.
Staying nimble as the FOMC is on the schedule means daytrading and keeping risk low. Here’s how we traded the NASDAQ today and a setup you can use straight from my Daytrading Playbook.
Keep an eye on the four factors of the market and you will see levels that price-only based traders will miss… and that is our edge… one that we took advantage of in the NASDAQ today. I walk you though the setup step for step in this update.
Choose your own adventure via the micro or mini Russell futures or the IWM Russel ETF. There is a third fade buy setting up.
Lots to like in the market but not until we know what it is that Powell is going to signal tomorrow.
The big question is, once again, do we buy the dip? The S&P 500 (ES) has shown the mentality to ‘buy the dip’ over and over again the last year… but it might still be time to remain patient before we take on that mindset and go long.
This year, many of us traders have taken on the mentality to ‘buy the dip’, but there are a few key levels and indicators that we’re watching that prevents us from getting long just yet. The daily squeeze is firing to the downside on the S&P 500 (ES) with volatility (VIX) remaining high as we head into Friday’s session with the upcoming FOMC meeting. To avoid putting too much exposure on swing trades, we want to remain patient over the next few days. What should we expect going into October?