How High Do We Go?
In this video, we look at the price action of the market and where we might go. We discuss levels and what some of the catalysts for a move higher or lower may be.
In this video, we look at the price action of the market and where we might go. We discuss levels and what some of the catalysts for a move higher or lower may be.
Interesting to note that the transports did not close near the top of the range as the Dow traded to new record highs. What are the names to watch now? And I share one buy that we took on a pullback.
I continue to make my primary focus shorter term day trades, which is partially due to the current market, and also because the last two months of the year are often when I focus on shorter term setups. There are a handful of setups that are still valid for longer-term daily follow-through but I focused on non-equities as much as I can for these trades.
Last week, we discussed a potential short squeeze on AMD. While it didn’t come through on the earnings report, it started coming through today. Let’s look at parameters and I’ll show you how I’m trading it.
For How Long? The S&P, Nasdaq, and Dow reached for another new high today, but we have a low put/call and VIX, which typically indicate it’s time for a breather. Let’s look at AMD, MSFT, NFLX, WMT, TGT, and more.
Crude oil, the Euro, beans… our alerts are firing off and it’s time to look at the timing around these setups. Also, I take a deep dive into this morning’s daytrade setups.
One of my favorite ways to trade the last couple months of the year is to shorten the time frames and daytrade. In this video I walk you through the NQ short (we shorted all four indices today) and how the entry makes the difference as to how many and which targets can be considered.