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Setups on my Radar
From support on crude oil and the trend retracement in the Dow there is still a lot to like about this market as volatility picked up.
TSLA About to Roll Over?
TLSA is looking weak and very similar to what happened in early November. In the video I discuss the chart and walk through two different trade ideas to consider.
Big start for a slow week
Today was nearly something to write home about with the SPX down almost 2% and that to kick off what I anticipate as being a rather choppy range bound week. That said, the range is pretty wide. Let’s have a look.
One Piece of the Puzzle
There’s an infinite number of reasons as to why a stock might be moving, but one I want to be aware of over the next 2 weeks is that of max pain. Let’s look at two examples and why they may help describe the current environment.
Torn between two Voodoo Lines
Firelines are the most significant levels within the Voodoo Lines indicator. So when a major index nears one of these firelines, we take notice. We have two indices currently in close proximity to these important levels.
Energy leading the way in December?
In this video I outline an argument for continuing the trend of the market moving sideways to higher. Specifically, we look to energy to lead the way as the Squeeze Pro has a lot of compression for things like XLE and even more so OXY and XOM.
Friday’s Finest
As we head into tomorrow’s employment data it’s hard to know exactly what we’ll be presented with in stocks, but if bulls are still in charge, these are 3 of my favorite picks.
Follow Bonds
The main narrative moving the indices is “What is the FOMC going to say or do next?” There is a simple way to decode this: The 30-year Bond. Whether intraday or end of day, where rates are heading next dictates where the S&P, NASDAQ, and Dow are heading next.
Up, up and away!
In this video, we look at today’s crazy rally that came from Powell’s comments. We got an incredible 122 point rally in the SPX and the rally was across the board. What should we expect next? I have been saying that we need to wait until the next PPI, CPI, and FED meeting to see, and maybe this rally is a preemptive move to those events. For now, we have to look to the upside as I don’t see this pulling back without some bad data points and hawkish commentary from the FED.
