As I mentioned in last week’s video, all eyes were on the QQQ’s this week as it seemed poised to join the SPY and DIA at all-time highs and the QQQ’s did not fail to deliver hitting ath’s mid-week and closing near ath’s. Congrats QQQ holders! :muscle: Our call on the reversal in bonds and gold continues to play out along with the strong correlation between the long bond and QQQ, as well as the long bond and gold. This coming week the IWM is the index to watch to see if it can play catch up as […]
This past week the rally in equities continued as the SPY touched fresh all-time highs and the DIA joined the party closing at new all-time highs on Friday. This coming week the QQQ’s appear poised to set all-time highs and the IWM is now the odd index out trailing far behind. The fear of additional fallout from the Archegos saga appears to now be in the rearview mirror as the markets rallied once again on the backs of broken trades and traders. With the overwhelming strength across so many asset classes, anyone who is calling for a market […]
VIPS is now trading outside-inside-inside on the weekly chart. A break above the prior week’s high will likely trigger some short covering. Watch this list of Archegos names – GSX, TAL, FTCH, VIAC, DISCA, and IQ for possible similar setups.
Hi Traders, This past week the Archegos saga continued to unfold as the forced selling in a number of formerly high flying stocks had traders guessing if there was another shoe to drop. Is the saga of Archegos a one-off or is it the tip of the iceberg indicative of a larger systemic issue? While many of Archegos’ holdings saw selling pressure throughout the week, equity indices continued to make their way back to all-time highs with the SPY breaking and closing about 400 for the first time. The rest of the indices now appear ready to join […]
So BitClout is the hottest social media network that launched this past week or so and if you haven’t heard of it yet now’s the time to check it out. Here’s the big idea – using Bitcoin you can invest in the platform via the BitClout coin and the users of the platform via their individual coins which creates a pretty interesting incentive system. As traders, it’s quite compelling as who hasn’t wanted to have the ability to go long/short your favorite celebrity or online personality. 😂 It’s still early days so if you consider yourself an early adopter or […]
BTCUSD had a phenomenal month of March. As we enter the month of April we have an interesting scenario setting up. If BTCUSD can close the day as an inside day we’ll have the daily outside-inside scenario, which is consolidating right on the prior week’s weekly inside bar reversal and prior month’s high – all significant levels. If we get a break of this pattern we stand a good chance at seeing some fresh all-time highs in short order.
Hi traders, Spring is in the air and back from a blogging hiatus so I’ll be back to posting some more content on a more frequent basis. Here’s a market outlook video for the upcoming new week, month, and quarter. Now this past week there wasn’t a lot of economic and macro news to drive the markets so what we saw this past week was a very technical market driven in large part to supply and demand flows. Food for thought in this week’s video: What a liquidation looks like and why we need to watch out when […]
Hope you’ve all been doing well. This week I’m releasing a special US elections edition of the Market Outlook to prepare for the historic and the potentially volatile week ahead. Not only do we have US elections this week but we a full economic calendar (including an FOMC announcement), a full earnings calendar, and a brand new trading month. On top of that, the QQQ and SPY have set up a potentially volatile price action pattern that warrants close attention. Fortunes will be made and lost this week. Remember trade safe and trade to trade well. All […]
I’ve been doing the Weekly Market Outlook videos for the past 1 and a half years and over that time you’ve seen me navigate the ups and downs of the markets and I think we’ve done a pretty good job at staying on the right side of price most of that time. The purpose of these videos has always been about sharing perspectives with the hope that it informs and hopefully improves your trading. So after 18 months of doing these weekly videos, I have decided to take a hiatus from these Weekly Market Outlook videos. The […]