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Big Day For the Bears Today
Today was all sell side for the US equities. Begs the question: did the bulls even show up? The idea here is to lay out a plan for tomorrow & the week going forward.
Sell Bounces
The current chart structure suggests selling bounces so long as Fibonacci and Voodoo Lines resistance holds.
Trading Dicks Sporting Goods (DKS) Post-Earnings
I like this company, but the technical pattern is telling me that there could be a potential opportunity to short this company post-earnings. Investors have sent it down, 9.3% today — much more than the market as a whole. This tells me anticipation is weak, and with an expected move of $10, this ticker could easily break to new lows not seen since May of 2021. For these reasons, it’s on my list of potential earnings explosions. Let’s talk about how we could potentially trade it.
If Only We Knew These Levels In Advance…
At least now I know when the machines are triggered to take action.
Wishful Thinking
Let us discuss why these main key levels in the indexes must hold, or else — where’s the floor, really?
How This Market Bottoms, Pt 2
As headlines continue to dominate order flow, one thing that’s been helpful is analyzing sentiment. Traders tend to get the most bullish and bearish at the worst possible times, and if we’re aware of that, we can work to be on the other side of that trade.
Shorting the NASDAQ (again!)
The NASDAQ bearishness has remained near the top of the list for shorts we have been wanting to re-enter. You may recall we already shorted this once and we’re doing it again on this rally to the Wave. What is the trigger and validity for the trade? I explain all that in this update.
Mid-Week Trade Plan Update
Earlier this week we laid out a trade plan with a starting point and target objective for the S&P. Tonight I’d like to update that plan with a spot in mind to consider adding to the trade. Original objective is still the same.
Pushing Higher Again
In this video, we discuss the push higher into the SPX 4400 level. Why is this an important level and how do we trade it?
