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A Look At Leading Stocks After Weak Monday
Surprisingly weak close for the Monday session. I thought the SPY could bounce again into overhead resistance, but so far, couldn’t do it. I then look at leading stocks like AAPL, AMD, and GOOGL to see what stories they tell me. They could clue us in for timing as well.
Go nowhere Monday, but get ready for tomorrow
Today was choppy top to bottom with no resolution, but tomorrow holds promise for the reasons discussed in this update.
Tick, Tick, Boom
Let’s dive into a signal that will drive trade for the next year. Don’t miss this one.
AMZN is playing with fire.
Today’s strong recovery in AMZN stock on the heels of earnings brought the price to and then just above its Voodoo fireline — the same level which had been resistance on recent recovery attempts. How it reacts at this level will likely show the next move in this name.
Buy or Sell this rally?
Whether it’s the NASDAQ, S&P, Dow, or Russell, was this the move to buy or to short into? The answer—as always—begins with the market structure. In this update we will deep dive the indices and sectors and look at what today’s rally set up for next week.
Low Risk Trade Ideas in the Chop
In this video, I walk through what type of strategies are really working in this market environment while keeping Risk low, and I also walk through a trade idea to consider today on SPX.
Trading intraday with volatility and time
As traders await Friday’s Non Farm Payroll, staying nimble and short-term continues to be a productive approach. When trading in the morning, there are support and resistance levels that are not necessarily the obvious price based levels that most traders watch. Here is how I break down the morning session with volatility and time based support and resistance.
When the uncertainty is high, shorten the timeframe
With the GOOGL volatility and anticipation for FB earnings, it made sense to focus on the shorter term timeframes for more nimble opportunities (after NFP Friday is really the hot zone we want to capitalize on). The S&P set up an ideal exhaustion setup after chopping for the first two hours of the day, but knowing that there was support and an oversold confirmation, it was easier to get long and stay long the S&P.
21 and Up
Tech stocks have been getting bludgeoned for weeks, but AAPL was the first to enter the 21+ club. 21+ referring to the daily mean, and one way of assessing the swing based trend. MSFT wasn’t far behind, and if we can see semis to do the same, bulls may have a little more work to do.
February starts with a bang!
In this video, we look at the big moves we have had as we get February started. We have had a lot of action from the indices as well as GOOGL and FB. Tomorrow we have AMZN and then Friday the big event of Non Farm Payrolls. Lots to watch in the next several days, so buckle up!
