Energies, Gold, and Daytrading Adjustments
The name of the game is to ADAPT. Here’s where we are focusing on setups to start the week.
The name of the game is to ADAPT. Here’s where we are focusing on setups to start the week.
This week, the markets dropped a record amount. The fear is palpable, but is this setting up a short term opportunity for a bounce?
An incredible week of selling concluded with a strong final 15 minutes today. Did the selling create opportunity or is this the calm before the storm? Near term SPY, APPL, and credit say a short term tradable bounce is very possible starting Monday. Let’s dive in and review the levels.
Why did the sellers come in and what caused the 3X daily price movement range sell-off?
Why did gold sell-off? And will we buy it? Did the FOMC just save the market? And where will I buy first?
Beyond Meat reported earnings Thursday afternoon and while revenue looked sharp EPS was a little lacking and the stock ran into some sellers. We put a reliable strategy to work, now we just need to see if we can hold this specific price.
February’s seasonality is really starting to shine through here as we get into the end of the month. Does that set the stage for a rebound, or is there more selling to come? This is what I’m keeping an eye on for tomorrow and as we get into March.