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How will GOOGL effect the NASDAQ downtrend?
Heavy weighted stocks in the NASDAQ can effect the range for the short setup, but does GOOGL earnings move change the downtrend structure or setup? Here’s a look at the /NQ as well as the main market I will continue to focus on for any short triggers (hint: it’s not a stock!)
Outperformers Watchlist Scan
The segmentation in terms of trending and choppy indices in the current environment makes the watchlist building practice we develop as traders very important, and in this update, I walk you through mine in the outperforming sector that are on my radar. Remember that we focus on outperformers and the scan can be as easy as focusing on the heavily weighted names in each sector.
Daytrading Sentiment with this one level
The direction of daytrades for me, which I call directional bias, is one of the first and most important decisions I make each session. And it can be very easy with a simple level-read that I take from the daily time frame. Have this level marked each morning and it will help with the directional bias for your daytrades.
Oh, what a relief it is!
$AAPL and $TSLA are two mega-cap names which helped drive today’s bounce. The Voodoo Lines pinpointed the spot of last week’s lows in both these names. Let’s see what they tell us about whether we’ve seen a lasting low or just a brief relief rally?
Learn this oversold setup
In this chop, knowing how to gauge chop and entering a position when you have an edge is key. I have a favorite indicator and strategy I use and I show how to set that up in different markets. The checklist requires patience but when you know specifically what you are looking for, it’s easier to wait for your pitch.
The Next Trade in Tesla
Investors were largely disappointed in Tesla this week, despite the record earnings report. I think this drop may present an opportunity, and will be following this pattern into next week.
Urgent Market Update
January’s market action has been wild, and this week is no exception. What direction are we heading in and how long will it last? Plus, you’ll get a sneak peek into how I’m trading and where I’m finding setups.
Post-FOMC Trends to Watch
The message from kaPowell was clear enough and we know to expect a 1/4 point hike at the March meeting and the expectation for another 1/4 hike at the May meeting is growing. So what are the trends in this hawkish environment? Futures traders do not have to look far: Corn, Soybeans, Euro, Bonds, and more. Here’s the breakdown of what is on my radar.
Stalking Low Risk—High Reward Shorts
From the monthly chart down to the 5-minute chart, trend, structure, and momentum are all pointing the path of least resistance to the downside. Let’s discuss how getting short in this market following our clearly defined rules by using the Analyze tab on ThinkorSwim. If you’re looking to learn my game plan for staying profitable in 2022, check out my class this Saturday: https://simplertrading.com/game
