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Light at the End of the Bottom Part 2
Is the process still in play? What has transpired since the July discussion and what are we measuring to track the support holds?
Prepping for Thursday’s Day Trade
Heading into today’s session I was looking for a bounce, and while it didn’t materialize right at the open, it was the easiest trade of the day. Let’s review what brought us there and where it might lead into tomorrow.
FED Day fun… again
In this video, we look at today’s big rip higher after the FED raises rates again another .75% and then the immediate roll over of the market. We dropped about 150 points on the ES from the top to the bottom. We have seen this price action before on FED days and it was because Powell says they are going to keep raising rates. We talk about the next big events coming up and what to watch for. Be on your toes for Friday’s NFP numbers and next week’s biggie, the CPI numbers. Lastly, we talk about how I have been trading this market and how I can help you.
Post FOMC Analysis
We heard from the FOMC today as expected but evidently the market heard some unexpected in the presser as it reversed back to last Thursday’s lows. Given this development, I will try to make the best read of what I am seeing so that we can make a plan for what lies ahead.
Trading the $TRIN on Thursday
The Arms Index is one of the lesser followed market internals, but one that I’ve found helpful in extreme situations. One of those situations presented itself on Wednesday and is worth following into tomorrow.
This ETF Is A Map Of The Fed Action…
The main label for a company right now is, “Are you speculative?”
That was then. This is now.
How have expectations for FOMC hikes changed and how have markets responded? These are the levels to watch to both the up and down side.
GOOGL Lower?
In this video, I walk through the Daily Chart on GOOGL and point out some of the technicals indicating weakness that GOOGL could continue to roll over. I also discuss some trade ideas, as well as being mindful of risk with the uncertainty around FED news this week.
Fed Directly Ahead
FOMC week this week. Wednesday will be the day that matters. Thursday holds a close second w/ the JOLTS jobs report. Other than that, all I see is that the tape still says higher, so with that I will try to find our next target.
AMZN’s Trial By Fire
Poorly received earnings from AMZN last week sent the stock right down to its Voodoo Fireline. That level is now an important decision level for the stock.
