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What is the trend of the index futures?
After Powell and before options expiration, let’s look at the trend in the indices and what the key levels to watch are.
Are more highs coming?
In this video, we look at the incredible run the markets have had from the FED push. Powell spoke today, and may keep the punchbowl at the party. Does this mean we keep going higher or not?
Pullbacks = Buys
For markets that are still Double Green, pullbacks will be the trade. This is going to apply to S&P, NASDAQ, Crude oil, Bonds, markets in which we have remained bullish.
Setup in TTD. 7/15/2021
TTD is a royal setup and is having a pullback on the Daily. Be sure to watch for triggers. Remember — Setup + trigger = trade entry, and then you manage.
Calendar events and catalysts for volatility
Today was a textbook example of the economic calendar and the importance it holds for traders. Three events are setting up significant moves and tomorrow will be no different.
How I will interpret the CPI release?
We don’t have to get in the weeds with data releases; this is broader strokes. Will traders and investors view a strong CPI as good for equities? Likely not. However, the reaction and the volatility should be considered within the context of the overall daily trend, which is still up.
Today’s NASDAQ Daytrade and this week’s calendar
The NASDAQ gave us a nice gap up fade setup today, and sticking with the Directional Bias, we got long… on the bell? No way! I explain how to track and trade gap opens. We also have a very busy week with Fed members speaking and Powell testifying before the Senate on Wednesday and Thursday — lots to keep an eye on this week as we head into options expiration Friday.
Setup in NIO. 7/13/2021
There are several pullback setup zones in NIO. I go over a 5 minute trigger in this video also.
Baby One More Time
Good week by stocks, things remain wildly bullish and wildly extended… there’s a signal that next week the market may want to rotate back to inflation stocks. Let’s review the signal.
