NQ Daytrade, Pound, and Beans Swing Trade
A solid start to the week with an NQ winner in a choppy morning and entries in the British pound and soybeans.
Archives: Daily Videos
Big Drop, Big Pop, Now What?
After a wild week of drop and pop, we are finishing with /ES and /YM at all time high levels, while /NQ is continuing to lag. Bonds are still very vulnerable, with /ZN finishing the week with a slightly newer low from the prior week. It is still very clear that big money has no interesting in picking up technology. A big thing to focus on next week is whether or not they do any rotation into technology. With /YM releasing a Daily squeeze the past few days, it makes sense to lead this market, but as it nears exhaustion levels, I’m waiting to see if they pick technology back up, or if we start a selling frenzy again. At these levels for /ES last time, we chopped around for awhile and just lingered near the highs. QuadWitching is next week, so this could be a recipe for sideways action, but anything is possible. Also, FOMC and Chairman Powell speaking on Wednesday.
Big Drop, Big Pop, Now What?
After a wild week of drop and pop, we are finishing with /ES and /YM at all time high levels, while /NQ is continuing to lag. Bonds are still very vulnerable, with /ZN finishing the week with a slightly newer low from the prior week. It is still very clear that big money has no interesting in picking up technology. A big thing to focus on next week is whether or not they do any rotation into technology. With /YM releasing a Daily squeeze the past few days, it makes sense to lead this market, but as it nears exhaustion levels, I’m waiting to see if they pick technology back up, or if we start a selling frenzy again. At these levels for /ES last time, we chopped around for awhile and just lingered near the highs. QuadWitching is next week, so this could be a recipe for sideways action, but anything is possible. Also, FOMC and Chairman Powell speaking on Wednesday.
“Trade this, not that” Daytrading
The NASDAQ continues to be on the crazy train and the Tencent news sent the NQ and the ES sharply lower. However, it’s the YM and RTY that I have been focusing on mostly in the morning daytrades. Here’s how today’s setups looked and triggered, including the setup I like to call the “garden lady low”.
Setups for Next Week
Crude oil has an aggro trigger and I show you how to enter via an ETF option. We’re in corn and waiting for follow-through and I’m adding soybeans. The USD short via the British pound has been the currency outperformer and we’re getting back in on the pullback.
Bitcoin: The Path to $80,000
Bitcoin has outperformed the majority of asset classes year to date. With the cryptocurrency making a new lifetime high today, I wanted to look at the most recent setup, current targets, and levels to consider into the summer.
Two Points of Focus
As we head into tomorrow I have two expirations in mind, this Friday and the witching expiration next Friday. This will be the first quarterly expiration of 2021, and it brings up several nuances of options trading that you’ll want to be aware of.