WarHorseAlpha

WarHorseAlpha

See Dicks. See Dicks grow (in value). See Dicks grow really quickly (in value). Grow Dicks Grow. NYSE:DKS has made a massive outside day up bar. I don't normally swing on trades, and I don't really like to go long, but I am going to on this one. Some things I like about this chart is that NYSE:DKS has trend. My methodology relies on trend, price tone,...

WarHorseAlpha Updated 

Interesting day yesterday for $$NASDAQ:AAPL. The stock hit all time highs, and then sold off. Jim Cramer says that its a pullback and he is short, and that is normally a very good reason to go long. However, that outside down day bar is pretty ominous looking. There is also an unfilled price gap lower and that could act as a magnet to the down side. Even more...

WarHorseAlpha

CME_MINI:ESM2023 has been range bound for the past two weeks and in a committed contraction as it consolidates. This market is uncertain and waiting on a catalyst. This day could end up a few different ways. I watch for the following using multiple (three total) daily SVPs set to custom time frames, and that is pretty important for tracking these moves. 1....

WarHorseAlpha

On the chart there is a weekly SVP anchored to the left. CME_MINI:ESM2023 is in a balance. There are high volume nodes at higher and lower prices. I watch the opening 5 minute candle to see the initial trend of the day on the daily SVP and wait for returns to HVN or building of HVNs. For price to move out of this balance, and for me to trade it, I would...

WarHorseAlpha

Price in the CME_MINI:ES1! has made a significant move in the overnight. However, that does not necessarily mean there will be a continuation lower--though it is possible. Five things are significant. Price is respecting support and resistance. Price is at support. The move lower made an under developed SVP. Price moved so fast that it failed to trade...

WarHorseAlpha Updated 

At the beginning of the week (meaning Sunday and yesterday), I held a slight bullish bias with return lower by the end of the week. I am always happy to switch my bias based on what the market gives, because you cannot make money with ideas that are not working. Using a changed bias in the morning of the trading day, I was able to take the NQ and the ES for...

WarHorseAlpha

The ES outlook looks very similar to the NQ , except the ES appears to be more stable (surprise, right?). The VIX is the same, with room to run higher. However, the VIX does not show there is a lot of room to run. Also, I am not subscribing to the bear market being over. I would need to see solid support on or above the hard resistance line to begin to...

WarHorseAlpha

The VIX still shows some room to run lower (which means higher because the VIX is inverted). The NQ will try to reach for the target zone this week and likely hit it by Wednesday. The bear market is not over. However, I am very cautious about how the NQ will make its move. The issue is that big earnings are on tap this week for AMZN, AAPL, GOOG, and GOOGL...