February 23rd, 2024 Rally’s not over. After a massive rally like we’ve seen in the NQ and ES over the past 24 hours, it’s easy for a day trader to look to fade it because it’s ‘overbought’. That’s the easy trade right now, but I think the wrong one. I mentioned yesterday how I love […]
February 22nd, 2024 Good low in NQ. I know that the talk will be about NVDA rallying the NQ, and rightfully so, but what is important from a technical perspective is that the recent low in NQ is a ‘good low’ and a low that the bulls can play off of. I always look at […]
February 21st, 2024 A Bear Victory. They are few and far between these days, but yesterday marked a short-term win for the bears. Now, moves in ES and NQ to test lower prices are underway. With daily closes below 17,680 and 4995, I anticipate NQ and ES to head towards 17,330 and 4891 in the […]
February 20th, 2024 Teetering: The market has been showing signs of weakness for the past week in ES and NQ, but there’s been no follow-through to the downside. This makes the signs of weakness false signals and buying opportunities. Will it be the same today? I don’t know, but let the market guide us through […]
February 15th, 2024 We’re in an environment where rotations to the downside are super short-lived, and the bulls come roaring back after minimal pullbacks. I’ve noticed cracks of weakness, but no follow-through, which tells me that the highs are just not in yet. It doesn’t mean we’re running straight back up; it means we’ll probably […]
February 14th, 2024 Teetering. On Monday, I issued a short signal in NQ, and now it’s teetering around the 17,680 mark – this will confirm whether we are still heading lower or if it’s just a temporary dip before returning back up. As it stands, the NQ is still above 17,680, which makes me cautious […]
February 13th, 2024 NQ and ES are in mean reversion. The CPI data has been released. Instead of dwelling on the numbers, we as traders focus on the market reactions. The NQ market stands out as it’s currently in mean reversion mode. As I mentioned in my note and in chat yesterday, NQ is on […]
February 12th, 2024 Range expansion is occurring universally. Wishing everyone a happy Super Bowl Monday! I’m starting late today after enjoying the Super Bowl festivities last night. Upon reviewing the charts, I’m noticing an evident range expansion in all areas. The RTY, in particular, is making strides through some resistance as the daily Bollinger bands […]
February 9th, 2024 Small Caps are currently breaking correlation. For the moment, the RTY has disassociated itself from the 10 YR, rebounding back up to 2000 while the ZN remains at the year’s low and 10 YR Yields are hitting year highs. The RTY’s return to the rally, along with NQ and ES, has instilled […]
February 8th, 2024 Will there be a divergence until March? We continually observe a disconnection (divergence) between the RTY and the NQ. RTY cannot sustain a rally, and the NQ fails to hold a break. I expressed on X last night that it’s difficult to anticipate a trend shift in February. Most trends initiated in […]