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“Stewie” Patterns Worked Great Today
When I highlight inverse H&S, I think they look like “Stewie: from family guy. Many of these patterns worked great today.
Tech Review Take Two
In last night’s video we covered two of my favorite tech stocks and a few reasons why I thought they’d be something to buy. GOOGL and NVDA were up 2% and 4% today, so it would seem like these are ideas worth revisiting and names we can continue to look for bullish entries.
Today Trading
Daytrading the psychology of each session has been the best way to deal with volatility, as we saw how the JOLTS data release triggered a rally in equities because “bad” news is still good news for the markets.
Eyeing A Short Covering Rally
Short covering rallies appear when the put/call is high, as it is right now. The put/call ratio is hovering right around 1.0, and today, we saw the market trading higher at the end of the day. We also had signs of incoming volume and a decent, short-term uptrend. This is what to watch for in the case we get a gap up, and short-covering rally.
Slow Start
Off to a slow start for the week in today’s session. There is a fair amount of information immediately ahead so I’ll share my plan with you for that.
Talking Tech
What’s In The Box?
$SPX and markets remain in a wide and volatile trading range. Let’s review the key levels and the adjustments necessary to trade the box.
Daytrading Post-Powell
The path forward is going to continue to be choppy in these murky macroeconomics times, but it’s not a panic-filled sell-off that ended the week!
S&P 500 Moving From Voodoo Line To Voodoo Line
Give The Market Time To Digest
The market pulled back for a solid three weeks, then bounced this week. Today’s sharp drop should not be too surprising since the market needs to hammer a low out if it is to find its footing. It could go lower, but right now it’s in chop.
