Meta posts a double beat and collapses. Tesla posts a double miss and rallies. A prime example of how fundamentals can lead you astray. Meta is weighing in on the QQQ and broad market. This seloff does not instill confidence in the tech based market. We were riding a 450 Put on Meta into earnings.
Great profits taken on a few trades today. Bitcoin & crypto under pressure. Semiconductors weak today. TC members received 7 new trade alerts today. 1 Bonus stock pick at the end of the video.
Discussing the sell off in semis today. Potential reversal in Nat gas Bitcoin & crypto selloff. FOMC tomorrow: No rate cut. Will Powell come out hawkish tomorrow? its looking likely he will based off of the BOJ rate hike. Oil surging doesn't help the dovish case. Commodities breaking out doesn't help the inflation fight.
Tesla has had a beautiful bounce off support. This bounce comes on the back of a strong market, charging higher. If Tesla can hold above $195 it may move for the gap fill. Caution to the wind with Tesla as it has triggered a very bearish breakdown. SMCI is one of the best performing Semis. Its gone completely parabolic on its earnings. after gapping up 30%...
Watching the Yield Curve inversion closely...10's - 2's is narrowing. Weekly Reversal in the Semiconductors. Oil massive breakout! Dollar next? Tesla losing Mag 7 status...its now only 10th largest company.
Tesla Pummeled down 12% & Losing Mag 7 status. INTC poor earning reaction, weighing on Semiconductors Oil absolute definitive breakout. Dollar looks ready to pop. Vix creeping up.
Dollar Surging Reversal! Small caps Obliterated Oil Bullish Reversal.
The major indices have outperformed over the last couple weeks. Shorts and put skews are at all time lows. No downside protection is being bought at this time. Are stocks going to the moon again?
- QQQ and SPY still complete full bull control cant remember the last time bears confirm a hourly downtrend. - TSLA relative weaker to QQQ today - AAPL and MSFT lead bull leading the market today, ALL time highs - GOOGL and AMZN weaker of the techs today - NVDA also weaker with double top from yesterday - im shorting SOXX so buying SOXS and would like to see AVGO...
- SPY trading double top at FOMC reaction highs from April - QQQ Clear breakout but AAPL didn't participate that much - Money rotating from AAPL into GOOGL and AMZN - NASDAQ rising wedge still in play, but QQQ broke out of the rising wedge - SOXX semi sector at potential H&S resistance, if it breaks out will give QQQ more fuel for upside. - NVDA new 52 week...
Red flag 1: SP:SPX & SKILLING:NASDAQ did not break close above Key resistance yesterday New fear low in AMEX:KRE regional banks, fear of snowing balling into something substantial NASDAQ:AMD poor Q2 guidance down 6% AH dragging NASDAQ:NVDA to break its 280 support. FOMC 11pm PST tomorrow 0.25 hike 90% chance. Shorting NASDAQ:SOXX in AMEX:SOXS
- NASDAQ:NVDA still lead bull in the NASDAQ:SMH sector you can see AMD already has been dropping - NVDA clear resistance 280 rejected multiple times - SMH holding above its weekly support, 13 cents away from breaking on Friday. - NASDAQ:MSFT and NASDAQ:GOOGL ER Tuesday AH will drag SMH which everyway the earnings come in.
- QQQ Megaphone still in place - NASDAQ:QQQ SKILLING:NASDAQ trading within 3 weeks range 320-312 area, likely breaking Tuesday - Tuesday NASDAQ:MSFT NASDAQ:GOOGL Earnings prediction - NASDAQ:AAPL broke out without much follow through, historically AAPL dips into earnings or after earnings if it moves up alot into it. - advertising companies dont...
- Resistance levels for NASDAQ:AAPL NASDAQ:AMZN NASDAQ:GOOGL NASDAQ:MSFT NASDAQ:QQQ NASDAQ:TSLA - double megaphone pattern on NASDAQ:QQQ likely breaking smaller one tomorrow - most big techs are trading under resistance expect AAPL if no one follows AAPL its likely coming back down. - i am more bearish here due to this kind of indecision whip saw...
- NASDAQ:NVDA shaping up a H&S bearish pattern on daily time frame - NASDAQ:SMH / SOXX semi sector relatively weaker than NASDAQ:QQQ & $NASDAQ. that's why im still holding onto SOXS - When lead bull sectors starts to turn into more bearish we have to be careful with the other sectors. So far it is showing relative weakness but not too big of a divergence...
- Fed minutes Wed 2pm EST - CPI Wed 530 EST - PPI Thursday 530 EST - added initial positions for AMEX:SOXS looking to add more if we get flat or lower CPI data then 5.1%. shorting the NASDAQ:SMH / NASDAQ:SOXX sector. - we have been tightening up in an equilibrium since last Wednesday will very likely break tomorrow. - NASDAQ:QQQ / AMEX:SPY will be...
Overview of many markets - tech may be the canary for the overall stock market, oil could continue to 84-87 area, Gold is at heavy resistance and Dollar is a strong support, Bonds still look strong and maybe a safe haven play, BTC may tag 30k before all is said and done. Good luck!
- Does QQQ hourly oversold mark the bottom of the daily consolidation low or bear take it lower tomorrow? - March 28 hourly oversold on QQQ marked the bottom of that consolidation and we had a large bounce. - SPY closed around yesterdays lows which is in the resistance zone - took profit on my SOXS this morning re-added on the hourly bounce. SMH/SOXX still...