What is “buy the dip”?
Pullbacks in uptrends. Think NASDAQ futures, MSFT, Home Depot, among many. We’re also looking at an after-hour rally in crude but there’s a setup that says it won’t last.
Archives: Daily Videos
I know guac is extra!
When news of the Mexican tariffs hit, CMG took a nosedive with headlines that the cost of avocados would hit CMG. Now we’re a stone’s throw from lifetime highs, and this is a great example of why I prefer to focus on technical setups.
How Far Can We Fall?
In the last premium video, we reviewed key areas of resistance in AAPL and BA. Both of those have come through well, now we just see how far we can fall. Tonight updates those levels in /ES and thoughts on several other stocks.
2X Moves and Relative Performance Leaders.
The NASDAQ got hit like the rest of the market on a rate cut tantrum… MSFT moved twice its normal price movement range and the NQ pulled back to a key moving average. Here are the setups that triggered and how.
Bitcoin World
To access this content, you must purchase Bruce’s Income Accumulation System (Monthly), Mastering the Trade Room (Monthly), Voodoo Mastery (Quarterly) or Tr3ndy’s SPX Alert Service (Monthly Trial Add-on), or log in if you are a member.
Shining Star in the Night
In the semi space, we can see that SMH is running into resistance; however, the shining star is AMD. AMD not only has a backtested history of being a strong buy on the dip, but it also has a history of running into earnings. After the recent pullback, I’m looking at it for a buy.
Waiting for a Pullback
I’m starting to see signs of cracks in the market, primarily through the low $PCALL and failure of IYT at resistance. I’ve lightened up my positions considerably and have a small hedge on. The key here is knowing levels to get in, when the market does pullback — and setting up for the next setup, the run into earnings.
Watchlist and Setups to Kick-off the Week.
There are some positions that continue to linger in no-man’s-land and others that are triggering entries or coming close to it. Here’s what I have on my radar as we start the week.
Crude and Copper Retracements.
Both these markets are still in a bearish trend. The current retracements are setting up continuation plays in both.