Dow and Russell Setups
Here’s why the surge in Dow and Russell has the potential for more follow-through and why the macro points to lower rates.
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Current Setups
There are a few themes defining the current market. Let’s look at those and a few trades we may have into Friday.
Massive Follow Through On Small Caps
We started seeing these things set up over the last two weeks, then we got confirmation on Thursday and Friday. Today we got even more confirmation with IWM up again despite SPY and QQQ selling off. In addition, the Crypto space exploded and we are up strongly because of how heavily positioned we were in names like MARA. This is TG’s kind of market.
More Than Just Support And Resistance
Voodoo lines do a great job of highlighting support and resistance levels, like today’s high of the day where the levels pinpointed where we wanted to take profit on long trades. They also give us a roadmap which we can use to assess what will be coming next.
Market Is Planning For Rate Cuts, What Should You Be In?
With the cooler CPI read this week, and Powell talking nicely earlier in the week, the market was ready for the good news. But then the mega caps got sold off, and the small caps ran. What’s that mean for where the opportunities are? Let’s find out.
More Trends To Trade
After a volatile week, even more trends are organizing on the heels of higher expectations for a September rate cut.
The Highs and Lows: Stocks and Commodities
Following The Consumer Price Index (CPI) report, tech stocks began spiraling while commodities like gold soared new all time highs.
I Am Looking To Buy The Laggards, Like HD
The laggards had a huge day today, as traders bought the beaten down stocks, and sold the techs.
A+ Squeezes In The Dow
While tech and semi stocks have dominated the market, there’s a setup in $DIA that could be poised for a rip higher. Let’s take a look.
Finally, Some Reversal Patterns
I like seeing indecision candle stocks, followed by downside red candles when looking for tops. That is what we saw today in MSFT and others.