Fairly simple trade again this time round! DOW had an unwarranted drop from the top of it's channel on seemingly no news, and had a healthy bounce at the bottom. This enough wasn't really enough for a trade, as we kept running into resistance around 63.80. Now that we're over it, I'm comfortable loading a position.
I'll be playing 65Cs and 67.5Cs expiring 8/20,...
Dow inc is pending for breakout as it has recently tested the 52 weeks high resistance. It is above EMA 20 and EMA 50 which shows sign of strength and is gearing up for a movement upwards.
Typical head and shoulders pattern.
Bearish is set for a small amount of time, before we see the next rise.
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Did you feel comfortable on Friday, less comfortable on Monday, and committed on Tuesday ?! Well, it reaches the brothers that no miracle lasts more than 3 days.
I hope I'm wrong, but after the wind direction today it seems that we will have bright red showers, which in some areas, can bring flooding in the Square.
Those who have left home with the SL...
DOW - represents the mainstay value side of the overall market
AMEX:SPY - was once more balanced between value and growth but is now much more heavily growth (specifically tech) weighted
QQQ - almost entirely growth, predominantly through tech weighting
IF IT'S WEDNESDAY IT'S MAD!
Or
THE BRIDGE OF SighS !!!
The Fed, OPEC, BIDEN, COVID and the outside rain hit the same day. With the slogan roast the pastures, poison the fountains, scare the investors, the Bau Bau group above seems to have brought a total eclipse of daily optimism on the financial markets. From Crypto to metals, they all seem set for declines...
HOLY WEEK AND NUCLEAR WEDNESDAY!
10:30 p.m. Warm morning sun, some nature chirping from the birds around, a great time to enjoy a coffee. Start HOLY WEEK!
Financially speaking, after a recovering Friday, it would be natural for the green to flood the Square today. And maybe it will be! But we can't help but glance over the cup of coffee at the situation...
