list of daily videos
In last night’s video we covered two of my favorite tech stocks and a few reasons why I thought they’d be something to buy. GOOGL and NVDA were up 2% and 4% today, so it would seem like these are ideas worth revisiting and names we can continue to look for bullish entries.
Daytrading the psychology of each session has been the best way to deal with volatility, as we saw how the JOLTS data release triggered a rally in equities because “bad” news is still good news for the markets.
Short covering rallies appear when the put/call is high, as it is right now. The put/call ratio is hovering right around 1.0, and today, we saw the market trading higher at the end of the day. We also had signs of incoming volume and a decent, short-term uptrend. This is what to watch for in the case we get a gap up, and short-covering rally.
Off to a slow start for the week in today’s session. There is a fair amount of information immediately ahead so I’ll share my plan with you for that.
There are two tech names I’d like to buy, but only if we can start to see a pause in the 10-year yield.
$SPX and markets remain in a wide and volatile trading range. Let’s review the key levels and the adjustments necessary to trade the box.
The path forward is going to continue to be choppy in these murky macroeconomics times, but it’s not a panic-filled sell-off that ended the week!
Today’s low in the S&P came from just above a Voodoo snowline. Meanwhile, today’s highs made at a Voodoo skyline. This continues a weeks-long pattern of using these important levels to establish swing points in the choppy move down from the July high.
The market pulled back for a solid three weeks, then bounced this week. Today’s sharp drop should not be too surprising since the market needs to hammer a low out if it is to find its footing. It could go lower, but right now it’s in chop.
After being $30 higher NVDA slipped to close at scratch. This did no favors for the equity complex. In fact, pretty much everything was for sale from the opening bell. Let’s look through this and talk about what may be next.