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Daytrading until Powell
With three central banks in play Wednesday and the PCE inflation release Thursday, I am keeping it short-term until I can enter a swing short in the indices and downtrending sectors. Here’s today’s S&P daytrade setup and why the short was the setup of the morning.
How to Trade Momentum Prior to Earnings
Companies often statistically make large moves prior to earnings, and in this bear market, those moves are more than likely to be to the downside. Let’s analyze two tickers with a statistically high shot of trading lower prior to earnings — Roku and Shopify. I’ll show you how I use the Earnings HotZone to determine pre-earnings trades and more.
Can AMZN continue its bounce?
AMZN has been bouncing smartly since putting in lows at the Voodoo Lines fireline. Today it ran into trouble holding Fibonacci and Voodoo Lines levels which it needs to recover if bulls can continue pushing this name higher.
Getting Ready for Wednesday
Right now it appears all clear for this week’s volatility as most likely Wednesday. During the mid week update we will then start preparing for end of month and making our way into July.
Crying Jordan Bears
Nothing has changed, but the bounce has room as the crowded put trade gets wrecked. Let’s review what we talked about last week to see if there’s more gas in the tank.
Turn down for what?
In this video, I share my point of view on rallying into July and I also discuss gold going lower to take out the previous lows.
SPY Gets Some Headroom
SPY posted a solid gain on Friday and triggers one of my favorite continuation signals on the weekly chart. Let’s look at that, along with three of my favorite stock picks for the months ahead.
Sentiment Reads Make the Difference.
Despite the indicators we love on our charts, they cannot tell the whole story and that is where a well-timed sentiment read can make the difference. In this update I dive into how sentiment reach and the daytrading clock pointed to a stronger close.
Sorting Sentiment
There are no guarantees in the market, but one rule that generally plays out is that once everyone is short, the market has nothing left to do but rally. There are a few ways of gauging that, but today’s reading in the put/call ratio is one of my favorites to consider.
The Chop Fest Continues.
In this video, we look at the crazy price action we have been having and try to make heads or tails out of it. Today, we had Powell testifying before congress and Biden speaking as well and the markets continued the chop fest. What is driving us lower and when do we see any change in the bearish tone?
