Looking to fade the market from higher
The S&P 500 is hinting that it favors more upside, but also that it is late in the move and might be worth hedging or fading on ongoing strength.
The S&P 500 is hinting that it favors more upside, but also that it is late in the move and might be worth hedging or fading on ongoing strength.
Let’s stalk a setup to put on a bearish trade in the S&P 500 for hedging or speculation.
In this video I discuss how I track movement in different sectors to gauge how the market may be reacting to the current pullback.
Price is an important piece of trading, but getting below the surface with volume and relative outperformance is revealing a more bullish picture.
In the Options Free video I cover a few of the major indexes and show how I see they are a little weak, even though the SPY made new highs today. The EV sector is hanging out, but one name got some activity today.
In today’s Premium video I discuss how I see that the markets are heavy even though the SPY made new highs today. I remain bullish overall, but I would be looking for the SPY to dip to the Daily 21 EMA in the coming days. The EV sector has been going sideways for as few weeks, but CBAT got some love today. Cannabis is in the initial stages of recovering from its big pullback last week, and I show you the strongest of the group.
Which does today trigger? It has a lot to do with where you are positioned, because despite today’s stall, the broader averages are very much still in an uptrend.
Corn, beans, pound sterling, live cattle… these are the last four premium video swing setups and there are others on the Radar. Adding the longer-term swing approach rounds out your trading and keeps us from forcing trades in other styles.
Last week we looked at CHWY for a move and we got paid today. Next week I am looking at the highest quality solar names to make a move, specifically ENPH, let’s review the setup ahead of the long weekend.
Being a discerning daytrader means knowing when NOT to trade and waiting for your pitch. Here are the pitches I look for in the morning session and levels that we can trade from.