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I know guac is extra!
When news of the Mexican tariffs hit, CMG took a nosedive with headlines that the cost of avocados would hit CMG. Now we’re a stone’s throw from lifetime highs, and this is a great example of why I prefer to focus on technical setups.
2X Moves and Relative Performance Leaders.
The NASDAQ got hit like the rest of the market on a rate cut tantrum… MSFT moved twice its normal price movement range and the NQ pulled back to a key moving average. Here are the setups that triggered and how.
Shining Star in the Night
In the semi space, we can see that SMH is running into resistance; however, the shining star is AMD. AMD not only has a backtested history of being a strong buy on the dip, but it also has a history of running into earnings. After the recent pullback, I’m looking at it for a buy.
Crude and Copper Retracements.
Both these markets are still in a bearish trend. The current retracements are setting up continuation plays in both.
Expiration Premiums
Witching expiration generally offers some good opportunity for short volatility trades, and this series was no exception. Let’s look at some of the characteristics or the best short term plays for the past 4 days.
Daily Watchlist Scan.
Despite the major events hitting the markets this week, the daily time frame strategies I am watching are still valid.
When Euphoria Hits
We aren’t at a euphoric state just yet, but the low put call ratio is a huge heads up that at the very least, a pullback in the market is coming. I’m placing my bet on the SPX, since the NDX looks like it still wants a new, all-time high. It may not come tomorrow, as we still have triple witching to deal with, but hedging as we get into next week makes sense. Here is how I’m doing it.
Fading Events.
Iran eclipsed the message from the FOMC yesterday and stocks retreated from significant highs. Here’s how I am setting up trades into this volatility and in front of tomorrow expiration.
FED Day Nothing Burger
In this video, we discuss the FED announcement today and what this could mean for the overall market. Also, we talk about what I think will happen in the short term for the SPX.
Crude Oil and the US Dollar.
With the FOMC event today, the U.S. dollar predictably sold off, but for how long and what are the ramifications for crude oil and even the Euro?
