Archives: Daily Videos
Huge Rally Today — Now What Happens?
Today we had TRIN 2.0 and a tweet. What can the market do without that support?
Crude Oil Inventory Setup.
The crude oil market API data showed a build-up in crude, and this sets up a very interesting EIA release tomorrow at 10:30 AM ET as the market adjusts from a drawdown scenario. The trend is lower in crude and here’s how the trade will be effected by the volatility.
Sigh of Relief Rally.
The market got a bit of good news today with the delay of the tariffs and we see just how willing buyers are to jump when there is optimism about the trade war. We still have other optimism setups like the Federal Reserve that could carry the broader averages to levels I am still holding out for. Am I expecting a new uptrend? No. But a revisit to the overbought resistance zone of the current chop? I sure am.
Bitcoin Treading Water
More BTC Chop
Stalking the Dip in ZS
The indexes are up against key resistance, however, there are several names on my list of stocks I want to buy when the indexes turn around. ZS is my favorite. Why? It’s a honey badger, it has high short interest, and it clearly has no idea about a trade war. Here are the parameters.
Failing at Resistance
My hopes for the short squeeze last week were diminished as the Nasdaq and S&P hit key resistance zones and failed. A short squeeze really needs to be strong enough to break resistance, and close above it, to alleviate the likelihood of more downside. At this point, the path of least resistance is down. I have an SPX short on, and I’m stalking these charts for possible buys on the dip — but, they aren’t ready yet. ZS, AXP, MSFT, COST, MCD, PAYC, CHGG, LYV and more.