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A weekly reversal pattern worth knowing.
The Dow 123 pattern is a classic, centuries-old pattern that I have been using for over 20 years. The chop on the daily timeframe is not telling us much but this pattern could be important if it completes and triggers.
Light The Sky & Hold On Tight
Three big signals you need to see as this will shape the market for the next year. See if you can play devil’s advocate against what I show you in this video.
Ceiling Confirmed
This market is under heavy moving averages, and the way in which the market closed today on Friday says a lot about how we shouldn’t be shocked about another major move lower. Don’t let any bullish rip tell you any different! In this video I discuss levels to look out for.
Important Levels To Watch
We continue to trade below the most important Voodoo Lines levels. That continues to suggest a bearish posture, so let’s look at the other important levels to watch.
The Perfect Exit
In yesterday’s free video we discussed a critical level in AAPL. Today the level held within $0.03 and made for the perfect exit on our put debit spread. Let’s review the trade and what it might mean for action into Friday.
My Favorite Momo Pattern
In this update, I discuss my favorite momo and reversal pattern, the minor low, and how it will look on TSLA.
How low do we go?
In this video, we look at the continued selling we are seeing, since Powell spoke at the Jackson Hole Summit. The market is factoring in more rate hikes ahead and wrestling with whether we see higher or lower inflation ahead. All of this means that we are very likely to have more volatility in the weeks to come. Lastly, we look at the upcoming dates of economic events for clues to when things might calm down.
The Mid-Week Shuffle
Low for the move made today, mid-week on a Wednesday. Bearish target achieved. Question now remains, was this the low for the bounce to our bullish weekly target? I’ll lay out a plan for you to follow in tonight’s market update.
Talking Tesla
Tesla is a great product for options traders, and based off the way it closed on Wednesday, should at minimum have one more leg lower.
Trend, Prints & Pattern — all the elements I needed for a high probability bet.
LVS just had a 3.4 million share transaction today against a resistance level with a bearish engulfing candle pattern on above average volume. It may just be time to place a bet to the short side.
