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Talking Tesla
Tesla has been taking a beating since reporting quarterly deliveries, but I don’t think we make new lows before earnings. Let’s annotate the chart and look at a particular strategy rather than a directional assumption.
Were you prepared for this bounce?
About +18 million late prints appeared on the SPY & this is how we traded it.
How I’m trading crude oil tomorrow
OPEC is up next, and with the crude oil market pricing in a 2m barrel per day decrease in output (think less supply) crude oil triggered a regression to the mean on the daily while simultaneously setting up a great daytrade. Let’s manage the short and long term in crude as I explain how I am trading both.
S&P 500 Rallies Into Fibonacci Resistance Cluster
Today’s bounce in the index rallied right into a tight cluster of measured resistance and started to turn back down. It’s too early, however, to know if the move back down is a lasting one.
Nice Bounce. Here’s the Plan.
S&P bounced off of the 200 Weekly SMA to kick off Q4. This week is an interesting one with the NFP report on Friday as well as a few other things that I will touch on in tonight’s market update.
2008, Part II
Market has come down to the decision point for the Final Act. In this video I show you the path that I believe is setting up into the end of the year.
Did You Catch the Correction?
In Thursday’s review we spent some time setting up for the quarter end and while the action wasn’t exactly what I described, it was close enough to pull down some cash, and may set the stage for an important reversal next week.
Are we there yet?
Today I discuss why it’s normal to maybe have another severe down day on Monday. If so, then maybe the PCALL ratio can give us a reason to buy this market.
Prepping for Quarter End
Friday brings the end of month along with the end of the quarter, and could also bring some additional volatility to the markets. Should we get a bigger break, these are a few of the bearish targets I’ll be looking for.
What boring daytrades look like
Directional, 60-90 minute trading window, and waiting for price to reach a zone… that is boring daytrading in a nutshell. Here’s a look at how we daytraded this morning and a look at how euro, the long bond, and natural gas played out today.
