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Once again, the above video link provides an overview
referencing current stock market conditions relative to similar
past readings. This would be most relevant for position
investors (such as retirement accounts) to monitor on a weekly
This is NOT a
forecast just data points at this time. Continue to keep an
open mind and respect the message of the market.
Markets are fluid and subject to change as we all know - key is
to establish a methodology that fits with your beliefs. You
can also incorporate a hybrid approach with your portfolio by
position investing certain funds for longer term (accepting
volatility until EVIDENCE changes) and dedicating other funds to
short term trading. Those are decisions for each individual.
If you have yet to formalize an investing/trading approach
please take some time to formalize a template - you can always
adjust but it's best to have something in place. From there,
you should formulate a PLAN that entails your objectives.
Once a plan is in place, then you can refine down to which
specific securities you want to invest and/or trade. This is
a TOP DOWN approach that should be enacted PRIOR to looking for
trades. Just like a Football team(or any sports team) - the
General manager has a vision/approach on how he/she wants to build
a team. Then he/she hires a coach to devise a scheme around those
players to maximize their talents. Next, the coach puts
into place a weekly game plan (making necessary adjustments) before
finally selecting specific plays.
How does BPT come into this picture? Think of BPT like a
consultant/assistant coach who helps to make your job easier
along the way. We provide daily analysis of several markets
which helps to provide some guidance as to how we see things.
We also spend a considerable amount of time providing tips
and educational examples to help execute you plan. Think of
the DVT approach for swing trades and the nightly discussion of
charts involving patterns and candlesticks, etc. We
also scan for and offer trade suggestions (ideas) that we believe
are valid setups and we take time to review the triggered setups in
the following days. Partake in only the ideas that fit into
your plan and simply ignore ones that don't. Finally, we
spend time posting relevant comments and numerous charts every day
in the trading community relating to what transpiring during that
trading session and updating trade ideas.
why would the VIX not have reached 38-39 on a day like this?
Probably because of what Steve posted earlier. See below
maybe meaning a lot of room for it to run higher?
Thanks, Matt -- appreciate it. Looking forward to seeing
those things you've been working on!
Steve, how does one access the "Ciovacco Historical
Perspective Charts?" I would imagine you need to be a
He puts out a weekly video via Twitter on Friday Night
Hi Matt/steve, is today highly likely to be a trend day?
Meta Platforms price target lowered to $310 from $330 at
Jefferies Jefferies analyst Brent Thill lowered the firm's price
target on Meta Platforms (FB) to $310 from $330 and keeps a Buy
rating on the shares, arguing that Snap's (SNAP) pre-announcement
that Q2 revenue growth will likely come in below its initial
20%-25% guidance is "indicative of a rapidly deteriorating macro
environment that will likely impact the whole ad industry." He is
lowering his FY22 and FY23 revenue estimates for a number of other
digital advertising companies by an average of 3% and 6%
$BTCUSD - Chart Link
$ETHUSD - Chart Link
Happy Birthday Matt and a belated one to you Skyfish
here's a link to the live view with my trendlines
I use both, and a 1 min as well
Snap 8-K Shows Co. Warns 'macroeconomic environment has
deteriorated further and faster than anticipated' Since Co. Issued
Guidance At End Of Apr.
Those big green bars into the close have been seen several times
just prior to a reversal the following day during this entire
selloff. So please keep an open mind and adjust if necessary.
ZM beat and trading higher after hours
yep - sell the morning rip - then hit a few golf balls, check in
and buy back at the VWAP - hit some more golf balls, sell again,
check in last 20 min of the day, buy back at VWAP again
$SPX - Chart Link - bounced off VWAP all
day (mechanical action)
WTI having first back to back days of less than a 3% intraday
range since 1/31 and 2/1.
DSX - Chart Link- nice day for this long idea
AAPL - Chart Link- nice day off that black
candle doji from Friday - bullish morning star pattern
$SPX - Chart Link- nice day back to the 9 EMA
following Friday's doji
XOP - Chart Link- nice day for energy names
SLB - Chart Link-
DBC - Chart Link- DBC remains in a tight
otherwise the market is holding up fine, that's just something
to keep an eye on
$BTCUSD - Chart Link- dump on Bitcoin -
potential negative guys
$SPX - Chart Link-
$SPX - Chart Link-
$BTCUSD - Chart Link- 2hr view - going
sideways, not participating today really. Should this start to
accelerate down would be a problem.
here's a clean Trading View look - just keep open in a browser
to glance at
The Dow was 8 weeks this time and the SPX and Nasdaq 7 weeks
AAPL - Chart Link again as I commented on
the weekend you had a lot of these same setups off those black
candle doji's, I could have put out 50 setups. That's why I said
just pick a few names you know will move and go with them for a
market bounce: ETF's like UPRO, TQQQ, AAPL, others
DSX - Chart Link- been on the watchlist for a
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