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Analyzing Support in the Nasdaq + Microsoft

By Simpler Trading | August 5, 2024

The Nasdaq did its best to cling to critical support zones at the 200 SMA on the daily chart, and the 50 SMA on the weekly chart. However, Microsoft was a bit weaker, closing below the 200 SMA on the daily and just barely above the 50 SMA on the weekly. Danielle is not buying yet, but these are the zones to watch.

Smart Money Sells Into Dovish Fed

By Simpler Trading | August 2, 2024

This seems like a case of buy the rumor sell the news, with Powell coming out Dovish at this week’s FOMC meeting. We know the MAG7 had been getting sold into over the last few weeks, but there was a rotation going on into other areas. Those also got hammered at the end of this week, so the real question is: how long will this go on for?

Markets NOT In Turmoil

By Simpler Trading | August 2, 2024

Sanity check update on what the sell-off means and where the opportunities are. Remember, Wall Street is where they throw a sale and nobody comes.

Charting The Correction

By Simpler Trading | August 1, 2024

Tech has been on the forefront of current market weakness, but are we at a spot to pause? This is the level I’ll be watching on Friday.

The Chips Were the “Tell”

By Simpler Trading | August 1, 2024

The weakness in the chips, while the SPX was still up, was a great tell to go short most markets.

What Just Happened?

By Simpler Trading | July 31, 2024

In this video, we discuss today’s big rally ahead of the FED announcement today. We had an amazing 155 point rip higher in the ES from the bottom yesterday to the top today. To say the least, this has been a challenging market to trade, and we continue to be on a roller-coaster ride. We are now in the middle of earnings season and still have the last of the big tech, AAPL and AMZN, to report tomorrow, which should give us more upside if the numbers are good.

I Am Finally Not Bearish The NQ

By Simpler Trading | July 30, 2024

With MSFT helping nail the NQ after hours, everything is near big support. Now I look for bullish reversal patterns.

S&P Finding A Floor

By Simpler Trading | July 30, 2024

Here’s what a bottoming pattern would look like in the S&P.

Broad Market Analysis July 28, 2024

By Simpler Trading | July 28, 2024

What to expect this week in the Broad Market? Trendy Jon covers SPY, QQQ, ES, and NQ futures.

Are Bullish Internals Setting The Stage For A Bounce?

By Simpler Trading | July 26, 2024

Friday saw a very strong internal reading for the bulls. It did not look like much on the surface, but when you combine it with where the indexes are and how they have been hammered over the week, this could be a clue for a bounce.