On Friday, a much stronger-than-expected June Payrolls report (assuming this will keep the Fed on track to be aggressive in rate hikes in 2.5 weeks) resulted in a gap lower at the open (0.2% in the DIA, 0.5% in the SPY, and 1% in the QQQ). From that point, we got seesaw action that oscillated ground the opening gap.
As a result, we enter the last 30 minutes with white candles with wicks on both ends and (due to the gap down) show only modest gains to round out a strong week for the bulls. 33% of stocks are trading above their 40-day average, with Energy and Healthcare being the most robust sectors while Basic Materials was the weakest sector on the day. Movers of note include ENPH, MCK, TSLA, and SEDG to the upside and TWTR, CZR, and AOS to the downside.
When considering a chart for a trade, it might be helpful to look at conditions to help with the final decision. I have found at least 3-5 conditions must be met.
Possible conditions:
Is the trend in your favor for the chart you are considering?
Is the market trend in your favor?
Is support or resistance in your favor?
Is the T-Line and price in your favor?
Is the Trendicator in your favor?
Is there enough room to make money?
Are your indicators confirming?
Does the risk & reward make sense?
***We only have 20 available memberships with the 65% discount. We will turn the promo code SAVE65% off after the available spots are filled.
S.P.T. | See it, Plan it, Trade it
✅ Connect with us
Hit and Run Candlesticks | Right Way Options| Live Trading Alerts
Investing and trading involve significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for educational purposes only. Terms of Service
Post a Comment
Post a Comment