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The more time that passes, the further away your breakeven gets.
Let’s review today’s drama-free day trade on why I got in, why I got out, and most of all: Did it play out like I expected?
Where I Am Still Bullish
Following up on my previous video, here is how I identify the symbols and levels from which I will be a buyer. The weakness we have seen the last couple of sessions will set up some buy triggers.
Downdraft of the Day
In this video, we look at today’s big sell-off as the FED continues to make hawkish comments. We are getting lots of data points in and most are not looking good for the FED. We look at charts and upcoming events to see what to look out for and where we might go. We are at a pivotal point for the next couple of weeks as far as direction, so be ready to take advantage of it.
The Belly Button Level
Today’s analysis begins with concepts we discussed last Thursday. It’s nice to see the analysis come to fruition, and may have bigger implications into next week.
Patience Pays
Appears it was a good plan to be patient and wait for a retracement for new positioning. Today the SPX backs pulls back 1.5% to levels where I am now comfortable adding swing long exposure. I’ll explain in tonight’s update.
Bullish Outlook
It may not be the popular one, but here is a breakdown of the charts and where I am bullish as we are halfway through January.
Up 1st, Mad Max 2nd
Some major technical changes to the market that we need to review before next week.
Planning the Next Leg
Phase one complete and thankfully as planned but that always leaves the question… What now? I’ve got some ideas and will do my best to lay out a plan in tonight’s update.
Feeder Follow-Up
On Monday we looked at a setup in Feeder Cattle futures. This idea has been developing nicely. Let’s see how it looks now.
