--- All Good Things Must Come To An End ---
| Tuesday End Of Day Market Report [7-12-22] | |
On Tuesday, stocks opened mixed and then yo-yoed up and down until 1 pm in the QQQ and SPY. At the same time, after a small lower gap, DIA had managed to recover fast and stay modestly bullish up to that 1 pm mark. However, at 1 pm, a steady and accelerating selloff took over (possibly on political news), driving prices to the day's lows at 3:30 pm. This leaves the three major indices as black candles with longer upper wicks. The DIA candle looks "the best" of them, but it is still reminiscent of a Gravestone Doji. All 3 failed their T-line (8ema). Eight of the ten sectors are red, with Energy being the biggest loser and Communication Services faring the best, although that is only up 0.20%. Overall, it was another modestly bearish day, filled with reversals and all on low volume. Note that I mentioned "selloff possibly on political news" since I see no other reason for the reversal and selloff all afternoon. Thank you | |
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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?
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