Overnight Binance released news that their exchange has been hacked for 7000 Bitcoin. Binance will be covering all losses to user accounts; however, they will also be suspending withdrawals for one week. This is a major story and in today’s videos we look at how to best position until the storm blows over.
We did get the move lower these internals were telling us to expect. Now what are they saying?
High class problem for sure and here’s how I do it using the Dow short from the chatroom today.
Being bullish in a market is the precursor to the buy. We’re getting setups firing off in /ES, /NQ, MSFT, AAPL, and V.
There is nothing I love move than a high put/call ratio and stocks near all-time highs with earnings. While the S&P may not be slanted enough, some of these stocks are. Let’s look at NYT, WING, and BOOT going into their earnings reports.
The first emotion everyone — myself included — must have had last night upon the news of the Dow dropping 500 points in the overnight session had to have been fear. However, that is why we learn — and why we teach — how to read market internals and price action. I view the market as resilient and the internals confirmed this thinking today. Let’s review the large caps, key industry groups, and high short interest stocks that are setting up this week.
