Well I said they'd try to pump small caps, and they sorta did. MFI now overbought but RSI isn't.
Doesn't really matter much, I don't plan on going long until PCE numbers are released Thu morning. Pretty good chance I take Mon/Tues off.
In this video, I provide an in-depth market forecast for the week ahead in the ES (S&P 500 E-mini), NQ (Nasdaq E-mini), RTY (Russell 2000 Index), and 10 YR (10-Year Treasury Note) markets. I am using a few key technical indicators and market trends to give you valuable insights into potential price movements and trading opportunities.
Indicators used in this...
RTY went overbought, decided to unload my long positions a bit early. I still think PPI numbers will be good tomorrow, but made some decent money on the CPI dump so calling it good.
2.15. 24 The term I like to use is Market dynamics. They changed yesterday with a very significant move lower but when it got to the bottom you should want to be a buyer as long as you can find a buying tail.... and the market was giving you evidence that you should have been a buyer at that level if you recognized the signal. A lot of times in profitable...
2.14. 24 I ran out of time so this will be part one. And it occurred to me these sessions are not 12 minutes they're 29 minutes....And I ran out of time. I'm interested in market dynamics... especially in markets that have a volatile trading day when both buyers and sellers can be profitable because of the range of price for that market on that day........
Well, bonds were down earlier today and actually went up with the auction. $25B worth of 30yr and they bought into it, wow. So that means yields go back down, bond traders are buying into the projected rate cuts. (Keep in mind it's 30 yr though)
One of my followers mentioned small caps earlier this week, forming a pennant on the daily, and I think it breaks...
Chart pattern looks like a breakout but indicators went overbought on my 3 hr.
I closed out my small position in garbage stocks. (I was right when I posted that yeserday, lol) Return was good in terms of percentage, but I didn't have much. Who wants to risk a lot in garbage stocks?
Not really sure what happens next week, might just sit and watch until CPI...
2.13.24 This video is about what it really is like making a trade decision when it's hard to make the decision. My point is that you have to practice deciding when to take a trade and when there's enough evidence to take the trade with a higher probability that the market will take you in the direction you are trading. You should train yourself to do this.... if...
Like the way price retested the downward trendline. Move up into the red resistance box is likely on of break of 2025. If price breaks above the red box look small caps to play serious catch up.
Let's take a look at the Russel 2000. This index seems to be the only one between the Dow, Nasdaq, and S&P that is failing to break to new ATH while they are.
What we're seeing is a triple top/triple resistance in Aug 2022, than again February 2023, and again August 2023 which was confirmed with a break down to the lows of October 2023 before more manipulation...
