Stocks gapped significantly lower Thursday as banks missed earnings, and some Fed members were talking about a potential 1% rate hike on July 28. The markets then sold off for another 30 minutes before the bulls stepped in at 10 am to start a long, steady rally that reached the day's highs at about 3:30 pm. This left up with gap-down white candles with longer lower wicks.
As usual for weeks, all the day's action happened on lower-than-average volume. At 3:30 pm, just 26% of all stocks are trading above their 40sma, and only 15% are trading above their 200sma. All ten sectors are in the red, with Basic Materials and Energy fighting it out for the worst-performing group of the day. Finally, the three major indices remain below their T-line (8ema), and the QQQ has outperformed both mega-cap indices.
Thank you
Alerts triggered on the Phone App
WMT getting close to the 50sma, watch for rest
$WOLF, now above the 50sma and the 1000sma. Stop 70.60
$BA above the 50sma Fig Newton candle pattern. Stop 142.40
$AAPL $10.00 swing setting up on AAPL Stop 146 stop
$MRVL has triggered an alert. Stop 45.45
Pot stocks are Smokin again
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?
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