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Buying the Dip in $AAPL?
With news circling around, let’s discuss the current market conditions. I want to show you what I’m seeing in terms of trend and structure, specifically on the weekly chart as it gives us a bigger picture view of the trend. This allows us to take the Monday through Friday volatility out of the picture.
A level many daytraders miss
If there is a “secret” to my daytrading, apart from volatility and volume, it’s this one candle that many daytraders don’t know to look at but can often confirm setups intraday. I walk through today’s example in the S&P which works regardless of whether you prefer the futures or options.
Markets continue to weaken.
As Covid and economic pressures mount, the markets struggle to find traction to the long side. Many have been pointing to the number of double bottoms forming out there, but they don’t have to hold. I will show you how the IWM wasn’t able to hold its double bottom and the clues we can work with.
Oil Slick
Fast forward from the 1st of three triggers for a crude oil short: We revisit a short setup in crude oil to discuss the entry as well as what we can do now that we are seeing follow-through. Structure before strategy and follow the trends. This is also a great blueprint for short setups in downtrends within the current market.
Welcome To The Jungle
Last quad witch of 2021 is in the books and it was a volatile one. The charts are all over the place next week, so let’s review the path forward for bulls (and bears) going into Monday.
Rebalancing Act
With options expirations now in the rearview mirror, it’s more likely that the market can get to the work of window dressing after Christmas. Strong get stronger, weak get weaker. That’s December. The indices held up incredibly well overall and the oversold support in the NASDAQ and S&P do not rule out strength… we have one more pullback seasonally for next week so let’s take a look at the best “buy the dip” opportunities.
Is this a tech wreck?
Today’s NASDAQ weakness is not the beginning of a downtrend but rather an opportunity into the year end rally. There are opportunities in certain symbols reminding us that if you know where to look there is always something around the corner.
Two Sides to Consider
The big picture trend for most charts is still well intact, but there are others that show short term patterns that could correct further. Keeping this in mind, I know perspective and patience are two of the most important things we can work on as we round out the year.
FED to the rescue!
In this video we look at the crazy rip higher today from the FED meeting and Powell’s speech. We look at the charts and I only see one way to play this market and it is higher. We have had many head fakes but it looks like we reach up and tag some new all time highs and my SPX target of 4800 to 4900.
Restless Russell
Santa’s good little elf, Jerome, seemed to have delivered today and the indices responded to the clarity of a May/June hike window. In the meantime, the Russell has bounces from its oversold Darvas level, and here’s the expectation for follow-through if you are a bull OR a bear.
