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After weeks of range-bound chop, things are starting to look better for the bulls. Can we see the $QQQ lead the charge higher from here? Let’s discuss.
These are the sectors and stocks with higher probability of follow-through. Without follow-through there is no account growth, so the watchlist is the best asset we have.
A big bond market sell-off led by a spike in commodities failed to derail stocks.
News came out today that NVDA had removed its stake in a few stocks and they did not like that information. You might have noticed if you were in them. Fortunately we exited for break even, so technically it wasn’t a loss, although we did lose the 55% gain we had in SERV. Numerous other tickers worked well for us.
Bruce discusses the last couple of week’s crazy market swings. We had a huge sell-off today of about 80 points in the ES on CPI data reported this morning before the open and Bruce compares this to last month’s CPI report where we ripped 100 points higher. It’s all about the data points and numbers so we have to be very careful of our risk and position sizing.
With the big, bad CPI report coming out, markets stayed in tight ranges on VERY light volume.
Doing what most traders do is NOT going to lead to account growth, but finding trends before they land on other traders’ radar is going to be an EDGE for trend followers.
Every day, Tr3ndy Jon provides you with trading plans to prepare for the day, live streams throughout the trading day, and real-time alerts directly from his broker.
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