In today’s video I discuss SPX on the Daily Chart, the break it has recently seen in resistance, and where it could be headed next. I also go over the charts on CARR and M and talk about some squeezes setting up on multiple time frames. I also walked through some possible trade ideas to consider.
Golf fans may know this and I love knowing what my favorite golfers are playing. This is the trader version of that. Here’s what’s on my chart and how it helps me make decisions about trades.
I get a lot of questions about my TradingView setup and since I am a huge fan of this platform and since many — if not most of my tools are available on it — here’s a walk-through.
Tech and energies continue to outperform, and while the list of trends has shrunk, there are still high quality trends to watch in this market.
A lot to like and take advantage of in these two corners of the market.
With the market giving us our 4th bounce at Daily cloud, the theme this year has been to make a new ATH after. The market is starting the week strong, sitting right under that ATH level and starting to squeeze on the 1hr. See if we get the breakout higher to end the week. As of now, looks like NQ wants to lead, but we need YM to join the party. Be mindful if YM starts to fail and drag the team lower. Focusing on some really nice squeezes on tech names like TSLA and NFLX if the market continues higher.
The overall market has continued to show bullish resilience at this Daily Cloud. Every time we reach the cloud this year, it is met with a big bounce for new ATH. We had a successful bounce to start the week, and now price is right under that ATH level with some nice intraday squeezes as a compass. Want to be mindful of a few things. First is NQ, which wants to lead the market higher. There are some BIG tech setups building and this could be what moves the market higher. However, we also need to watch YM as the lagging index. If they can’t get back above the 50D SMA and Daily Cloud, it has a chance to drag this market lower. As of now, ES is sitting in a D squeeze, so patience is king. Really honing in on Daily Squeeze setups on NFLX and TSLA. Also mindful of end of quarter Rebalancing that could impact the market.
While other sectors in the market fell hard last week, tech stocks have continued to rally their way higher. Let’s look at a few clean setups within the leadership that could offer potential into the end of the week.
While sectors such as the industrials, financials, and transports put some pressure on the $SPY last week, $QQQ has taken the baton as the leader here. Let’s look at a few setups within the tech sector that look promising for short-term moves higher, and some bigger picture things to pay attention to as we navigate the markets over the next few weeks.
