So Many Negative Divergences. But Big Stocks Still Will Not Roll Over
With the DJT, RTY, /ZB, and /YM negatively diverging, it would be easy to say “short the SPX.” But until I see defined bearish patterns, I will back away from that strategy.
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With the DJT, RTY, /ZB, and /YM negatively diverging, it would be easy to say “short the SPX.” But until I see defined bearish patterns, I will back away from that strategy.
With metals on the move, trade in gold as well as FCX were on tap today as the monthly expiration has come and gone.
Signs point to a potential blow off top with NVDA being the catalyst, let’s come up with a plan for managing our risk.
Crypto markets have been quiet for a while now, but I think we might start looking for a spot to buy them again along with this one equity pick.
The markets hit new all-time highs today following the CPI data. While I’d expect a dip at some point, the signals imply the dip should be bought. Let’s review some of the A+ setups on my watchlist.
With two major events still to come, the volatility and expectations around rate cuts are in play this week.
With markets moving on momentum, traders do not care about the high P/E’s or the low dividend yield on the SPX… Yet.
Walmart reports earnings on Thursday, May 16th before the bell. I think this ticker has continued bullish upside potential due to technical and fundamental factors. Check out the video to learn more.
AMZN made fresh all-time highs last week by pushing beyond the Voodoo Fireline which had previously contained the stock. It has since given up that level. Here’s what I’m watching to figure out if this is a turn back down from a level which had previously stopped the stock, or just a pullback in an ongoing uptrend.
As the bulls have gained progress, there’s been a handful of A+ setups on the Big 3 indicator over the last week. Let’s review some of these trades, along with some setups for next week.