norok

norok Wizard

Thanks to one of my Stream viewers @Casey_Louis for bringing NYSE:ONON to my attention. Many folks in my family love these shoes (my nephew even has the toddler versions). I like the initial survival of the 50% Pullback to $20/share. Now price is heading up for another leg. I do not like the breakout for myself... the reason being the initial IPO price just...

norok Wizard

Back in March, all we could read about was the "Banking Crisis" whether it was written by mainstream financial media or Bitcoin Maxi blogs. Truly, the great end of the US Dollar was upon us finally, right? Well, like all panics, the fear abates and we can now see that said crisis amounted to only 3 banks failing for specific and now well understood reasons. ...

norok Wizard Updated 

Preface and Disclaimer: I have a long term stake in Truist Financial Corp NYSE:TFC :( I wondered "why" Truist, company I have held for a very long time (when it was BB&T) would have been caught up in this contagion of small bank risk fears. An article by Seeking Alpha sheds some light on it: seekingalpha.com TL;DR, over the weekend analysis dug into their...

89:48

norok Wizard

A LOT to talk about this week: LEI (Leading Economic Indicators) pointing to recession, Ethereum Shanghai upgrade rocks the price of ETHUSD, China rattles the sabre over Taiwan, and my own trading methods under evaluation!

norok Wizard Updated 

Today's CPI data (down to 5.0% from 6.0% YoY) created interesting and actionable price action this morning... more on my thoughts about it later. Technically the data release created a Spike Alert by punching through the pre-market high and then closing back inside it before the cash open. This is happening within two important contexts: A double top for...

norok Wizard

The LEI (Leading Economic Indicators) has a great track record of predicting recessions. While a recession has been much anticipated for many months... now the data is coming in to actually support the possibility. What does this mean for Bitcoin? The two most important data points we have (because we don't actually have a major recession to draw upon in...

72:10

norok Wizard

Q1 2023 is over today and we are technically in a bull market as the bears capitulate!

63:46

norok Wizard

Yellen saves the Puts! Has the recent market rally (in stocks and crypto) stalled out? Let's look at the charts and talk the White House Economic Report.

169:23

norok Wizard

Let's hang out and trade with our buddy JPow

norok Wizard

This is a followup to my Bullish trades on Bitcoin since 2023 (see links below). I highly suggest you check them out to see how to find opportunity before it late into the move. So now it is time to start marking off Resistance Levels as this bullish move matures. The reasons: This is still a crypto winter and this is a bear market rally. Crypto trading...

norok Wizard Updated 

I had an alert set for Travelers NYSE:TRV that hit this morning. It is the 50% Retracement Support on the Daily for the last 2 quarters of price action. This sets up a good long to retest the high should the level hold.

92:38

norok Wizard

To trade... or to DCA (dollar cost average)... that is the question. I want to explore this using Bitcoin (BTCUSD) as an example. We will also dig into the deeper reasons that banks are under stress this week. All that and the weekly market update.

norok Wizard Updated 

Bitcoin BITSTAMP:BTCUSD has pulled back to the Major 50% Retracement of the January rally at 20360. This is a key Support level that must hold to continue the bullish trend. Watch how price behaves at this level. If price holds the level (closes today above) and remains above then the bull case remains intact. If price closes below the level for 2 or more...

norok Wizard

I have been watching SPY and /ES pull back from February's malaise, following January's rally, and it has now gotten to the key 50% Retracement Level of the October - January trend. My spike indicator also triggered on this morning's opening 30 minute bar. This sets up a textbook long trade in the SPY itself.

norok Wizard

With VIX ripping on today's bank FUD the IV Rank and IV Percentile of SPY is the highest in a year's worth of trading days. This sets up opportunities for premium selling that have not existed for a very long time. Rules: SELL the 20 Delta Strikes at 45 DTE or greater in monthly expirations. BUY wings at 10 Delta Strikes same DTE That ended up being: SELL...

74:32

norok Wizard

Financial stocks are taking a hit with the collapse of Silicon Valley Bank. Is this a sign of contagion or a buying opportunity? Cryptocurrency is down across the board. Is this also a buying opportunity and if so, for how long?

69:55

norok Wizard

What a close to the week... Stocks UP/Crypto DOWN! Market update plus futures day trading on the docket today!

norok Wizard Updated 

The month of January saw a huge RIP on Tesla NASDAQ:TSLA lifted by broad stock market bullishness and Artificial Intelligence buzz with the launch of ChatGPT (Tesla is widely considered an AI company rather than just a car company). February saw this bull trend stall at major Weekly 50% Retracement Resistance (see below) at 213. Price has tested and respected...