September 17th, 2024 Dow leads the way higher. YM sits at new yearly highs this morning, ES is approaching its August highs, while NQ and RTY remain weaker. This divergence remains the focus until the FOMC decision. How do we trade a divergent tape? Buy the strong markets, not the weak ones. Focus on long […]
September 16th, 2024 Rollover and FOMC. Two things that will create scenarios likely to make us scratch our heads. Even if we know what the Fed will do and say, it’s no guarantee we know how the market will react. As far as Rollover goes, today is the day we move to the Dec Contract […]
September 5th, 2024 Nasdaq remains weak, while the S&P continues to defend support. This divergence is a tug of war that still needs time to play out before we have clarity on direction for the indexes. I compare the indexes using apples to apples in my strategy. This means I use the same exact strategy […]
September 4th, 2024 Trade for a bounce, but an extended rally is unlikely. Yesterday was the first day of the month, and something I’m noticing that’s causing me concern about this bull market: Since July, the first day of the month has seen sellers, and the last day of the month has seen buyers. This […]
September 3rd, 2024 The bulls’ momentum has stalled, but charts aren’t bearish. Now that August has come and gone, we’re off and running in September. Just like the first day of August, September is starting off with momentum stalled, looking like a selloff is in store for the first day of the month. That being […]
August 5th, 2024 As I sit back here on vacation in Lake Burton, I couldn’t help but take a peek at what the markets were doing. By now, you’ve heard about the yen carry trade being the culprit of the sell-off. It’s that and more; there are various factors contributing to the current market situation. […]
August 2nd, 2024 The macro traders will now debate whether the Fed waited too long to cut rates and the whole list of mistakes they made or other reasons we’re seeing soft data. For day traders, a macro theme is important. From where I sit, what has changed is the chase. We’ve been chasing higher […]
August 1st, 2024 Bulls have the momentum, but the path higher isn’t clear yet. It’s hard to imagine we still have more macro data and earnings to come out in the next 24 hours, along with the first day of the month flows. The market is always looking for ways to go higher, and now […]
July 31st, 2024 Fed Day and the End of the Month. My goal with my morning note is to discuss the market environment and give traders an edge in understanding the conditions so they can execute their strategies better during the day. On a day like today, I do not have an edge. It’s not […]
July 30th, 2024 There will be an abundance of reasons why the market is moving this week, but the ‘why’ doesn’t matter to me. Our job as day traders is to execute from one price point to the next and focus less on the ‘why’ and more on the ‘how.’ Macro will lead the way […]