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Mid-Week Market Update
Here we find ourselves again at a mid-week update with the market at an extreme (High/Low) for the week. With more information now, having had an opportunity to observe some important order flow levels, let’s attempt to frame this for what may be around the next corner.
No Bounce In Sight
In this video, we look at today’s price action as we got the latest CPI numbers, showing that inflation continues to increase. This caused another big sell-off and the overall market looks very weak. We look at levels and try to determine which way we might go from here and how to trade this.
$AAPL to $140? Bearish TTM Squeeze Setups
When bearish squeezes develop across multiple frames, the odds of a significant move lower increase dramatically. Let’s take a look at the weekly squeeze in $AAPL, and the short I’m looking to pursue for the move into $140.
Downtrend. It’s not good, it’s not bad, it’s bearish.
When it’s a trend we can trade it with an edge since a clear path of least resistance is a trader’s friend. The S&P and NASDAQ organized into a downtrend days ago and it’s only the Dow that is neutral. With healthcare likely the only sector still keeping the S&P from lower lows let’s focus on short the rip setups.
Earnings Destruction: Trading RBLX on Earnings
My earnings destruction list is long this week, which you can find at www.twitter/traderdanielle. I’m already in LMND and NVAX, but I want to add some additional tickers, and I’m eyeing RBLX. Roblox was once crack for kids, but they are still losing money and surely have a lot of bag holders needing to get out. For this reason and more, I’m eyeing a short on earnings. Check it out here!
Off to a Rough Start
Started out with a Bang today. A Crash Bang. SPUs down 3.2% out of the gate. Finish like the Derby @ 80:1 odds? Looks like the answer lies in Wednesday’s report. I’ll explain.
Levels to Consider a Bounce
Stock indexes closed the day about as bearish as they could, but now that everyone is onto the idea, at least be aware of the potential of some short covering. If that is the cue of the day, this is one sector I’ll be keeping an eye on.
Drop It Like It’s Hot
The S&P 500 bounced twice from its Voodoo fireline today. However, the heat from that fire might make it hard to hold onto for long.
Sentiment of the SPY
Thursday brought one of the more bearish sessions we’ve seen all year, and the selling is likely not done yet. We’ll see what Friday’s employment data brings, but until this sentiment reading makes a new high, equities are likely to be under pressure.
