In this video we look at the erratic pricing of the SPX and the overall market lately as we try to find patterns and reasoning for the messy market we are in. Which way do we go from here and why? We also discuss a quick NDX scalp I set up in the main room and why it is sometimes better to scalp than hold.
I take a look at all three indices in this video and share how I anchor dueling VWAPs to show why the recent volatility in the NQ is really not telling us much and where my buy zone would be.
Lots to still like in this market — here is where my attention is.
The slop and chop trade continues in the indices and abroad. Most indices find themselves hanging onto their structures by just enough and many of them are on the edge of the ledge. If we have learned anything, it is to never count the bulls out. Let’s review the levels that they must hold or risk seeing the indices tip over.
Markets remain very choppy and now we’re seeing two competing patterns, one bull one bear, developing in the markets. Let’s review both, as well as what it means for stocks.
The dance is about to begin as the market is getting a glimpse of the end of quarter rebalancing that the strength in the 10-year has triggered.
A week bombarded with Fed-speak, end of quarter concerns triggered by the uptrend in the 10-year yield, an OPEC meeting just over a week away, and the US heading higher (but I don’t think for much longer) is making this week a bumpy one.
Today we’re going to dive into the tech sector, including the NQ futures, to look at whether tech has broken out.
But there is plenty of evidence that shows that it’s only a break, and that grains, silver, crude, and US dollar are still in play for our trades.
