End of Month Rebalancing and Targets
When I see XLE and XLF strong, I know there is money being shuffled around, and the timing is right. But the bigger question is, as we see a surge off an oversold floor: What are the upside “overbought” targets?
When I see XLE and XLF strong, I know there is money being shuffled around, and the timing is right. But the bigger question is, as we see a surge off an oversold floor: What are the upside “overbought” targets?
Before tomorrow’s session, let’s review the process and levels for the morning session so we can prepare for gaps, directional bias, and VScore levels.
Semiconductors are heating up, and I’m eyeing buys in SMH, NVDA, and AVGO. Let’s look at the setups along with trade parameters.
After about two weeks of back and forth trade, we now have squeezes all over the place. Let’s look at NFLX, TDOC, NVDA, ADBE, SE, PTON, and more.
Here’s where I see the current oversold bounce moving higher to.
I scan the markets for directional bias and what to keep an eye on for next week.
Wild swings once again in the markets seems to me like funds are unloading large positions, and at the same time buying more somewhere else, whether that’s in a different sector or equities. Either way, the volatility is here to stay. In this video, I share my thoughts about being short the indexes and being long momentum stocks. Right now is a great time to watch positions, specifically if you’re newer to trading. I think eventually we start making higher highs, once the dust settles.
Another crazy day in the markets, and I have to stick to my rules of taking smaller positions and only shorting the indexes. My favorite bullish setups are still trying to test their hourly-50 to the downside, but once we start to form some type of respectable bottom, I want to buy PINS, NVDA, and MSFT on the pullback.