225 replies to this topic

[dTraderB]

And I bought & bought, even in afterhours trading. Biggest LONG so far is GOOGL stock & CALLS. Also bought other other tecH, ETFS, MORE TLT CALLS, SPY & QQQ CALLS, also XLF, IWM... closed remaining UVXY CALLS. Will buy UVXY PUTS and add to LONGS on all rallies.

[dTraderB]

I think this is the start of the 2nd buying opportunity in 2023.
FED may pause but not tighten. This is merely a limited pullback that ahould be bought.

[dTraderB]

I am considering daytrading ES ST & VST and less NQ daytrading. NQ ST & VST trading is almost impossible with recent market behavio. Too erratic, spikes, and extreme ATR & VOLATILITY. I am testing my previous ES systems on 2021 to current data.

[K Wave]

You could be dead right...or dead wrong....BRK reaction Monday might give some useful clues.

 

Dow at a very interesting juncture....normally a back test of the 200 day will HOLD coming off an attempted turn up off the 900,

BUT... Dow momo has plunged to fresh low below zero and THAT is potentially concerning....

 

 

Why does that matter you ask?

 

Because on the rare occasions the 200 DOES fail to hold...it can get UGLY fast

So until the Dow momo turns around, this could still go right over the edge.

 

Here are a few examples from the past few years when 200 day has failed on the attempted turn.

 

 

 

 

 

 

 

[K Wave]

And 2 Year has regained some vigor...so perhaps 5 print here soon could be psychologically damaging....

 

Edited by K Wave, 26 February 2023 - 11:56 AM.

[K Wave]

In any event, we did hit combo support Friday, so as good a place as any to try a long...but keep the stop fairly tight here.

 

And closely watch APPL TSLA GS UNH BRK action early next week...pivot breaks there would be NO BUENO, and only increase bear momo

Edited by K Wave, 26 February 2023 - 11:58 AM.

[K Wave]

Another Big Cap one I am watching here is NVDA...

 

IF that pop were to turn into an Island In The Sky instead of extending upwards....would be extremely bearish signal.

 

[K Wave]

On the bullish side of the ledger...SOX did hold up better than rest of market, and always worth taking note of that....and a move back over 3K now could be an early bullish signal...

 

But since that outperfomance was due to NVDA pop, if NVDA does falter out of the gate on Monday, could be an ugly break for SOX as well...

 

Edited by K Wave, 26 February 2023 - 12:22 PM.

[qqqqtrdr]

I've taken note SOX has not dropped, but have not done so well to say it is a buy for the market as well.   Given the current market conditions, it looks like we are going to start a run higher but it looks like it is early.   I'm still on a wait and see, but checking the charts every day to see when the run up will start.    The talking heads are all so negative that a run up in the market looks plausible, even though  Rydex Ratio is not yet supporting it.

[pdx5]

Thanks for posting all those charts kwave. I think the market has many opposing forces right now causing a tug of war. 

Chances are no serious moves up or down, only better chance is of a grind with downward bias.