We had days like this in ’08: Days of rips higher in an overall downtrend, and new lows that came after. The market anticipated the news of the bill being released today, likely, we’ll see it tomorrow and if/when the market rips higher, here is my gameplan…
Most stocks are getting slammed in the coronavirus crash of 2020, but there are some honey badgers out there that are actually doing better in our current work from home environment. Let’s look at WORK, or Slack Technologies, and I’ll show you how I’m going to trade it.
The S&P is currently sitting on support $2200, but it wouldn’t take much for it to break lower. Let’s look at lower levels of support, along with relative strength longs for coronavirus crash buys.
While I am a longer-term gold bull, the move higher off the bottom of the Distribution market range could set up a (very) short term setup to the downside, but only if I see a specific setup.
Up or Down, trends offer traders clarity. It’s the emotion and fear around downtrends that often paralyzes traders, but a trend is a trend and we are not lacking for opportunity.
Two things have made the difference when trading the ES and NQ during the morning sessions: Fading extreme levels in the VScore and trading early. The morning fades taken in the direction of yen flow continues to deliver, however, today was a perfect example of why we stay nimble and why quadruple witching can behave unpredictably.
The bombardment of news continues to effect sentiment and momentum; today was no exception. How do we keep up with the news cycle? I share two of my favorite (free) resources. Even with an Initial Balance breach, the VWAP entry should have confirmation. I explain how and why to do that in this video.
If you enjoy trading butterflies there’s a few ways you can set them up so that they’re especially forgiving in this high volatility environment. We’ll recap two we traded this week and setup a third that should work well over the next 30 days.
