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Voodoo Fireline is just one element of NDX resistance
Today saw the NDX rally into multiple layers of Fibonacci, Voodoo Lines, and channel line resistance. The Voodoo Lines road map will help identify where it could go from here.
Planning for Turbulence
The question is likely, Was that the retracement or is there more ahead? If more, how much and what kind of targets can we try to plan for? Let’s take a look at that in tonight’s market update.
Is NFLX a Honey badger?
NFLX has done a good job of holding above the 100 SMA when the market dropped back down this fall. Now that the market is attempting to bounce, that could help NFLX with some bullish momentum. In this video I walk through the charts and a couple of trade ideas to consider, depending on how NFLX looks into the close.
Chasing Waterfalls II
This is the best chance for a short squeeze yet. We have central bank interventions, elections, seasonality, and early technicals… let’s go over the game-plan.
Post CPI Analysis & Plan
By now I’m sure you know about the CPI report and the fact that the market rallied on the heels of it. What I would like to do next is answer the question, “Now what?” In tonight’s market update I will attempt to lay out a plan for the next leg as I see it likely shaping up.
AAPL decision near 155
Fibonacci and Voodoo Lines analysis point to an important decision level overhead. Holding 148 keeps 155 in focus.
Quick & Easy Adjustment
After CPI data was released it was pretty easy to see there was no longer a focus on being bearish. The day did end up trending pretty well and gave us 2 clean trade opportunities. Let’s review those, along with my favorite pick for Friday.
Short setups on my radar
The CPI rally is setting up shorts as the resistance closes in on overbought resistance levels and downtrend retracement levels.
What to expect?
In this video, we look at today’s all day selling pressure and try to figure out which way we are going. We have the big event tomorrow morning before the open of the CPI numbers. This will give us an idea of whether inflation is rising or falling. This in turn will tell the FED what they need to do as far as future interest rate hikes, so this is a big data point. How do we play this and what can we expect?
Look Out Below
The market is very weak and sold off into the CPI report coming tomorrow morning. While there might be a surprise move with that, the overall direction is down and I am seeing TSLA lead the way.
