LIVE - mistake on my watchlist (I thought it was Live Nation), but it's on fire today and looks like it wants to go higher. Maybe a good mistake :)

Speaking of dumb stuff from WSB crowd - GME 680 strike calls expiring in June still have a tight spread and can be sold to lemmings for $142 each. 

Yep, playing CANE  WallStreetBets  style with out of the money calls.  Up 75% on July 10 calls so far today. Tight spreads when I got in but they've widened out a bit now. Did the same with BVN back when it first broke higher and up over 600% now (on a much smaller outlay than I normally would have done).  

Hey Matt, would you mind commenting on MACD and RSI divergences here that you do or don't see on this chart? I tend to see them a bit differently than you so it helps me learn when I can compare notes (especially in real time). 

Probably rhetorical questions, but I'll offer my take anyway    I don't see retirement accounts going to cash in masse in a panic scenario. However, when institutional investors all line up on the bearish side, we will be close to a bottom (e.g. when Tom Lee at FundStrat stops his bullish calls and people start admitting that a global recession later this year is a real possibility). I think we have a date with 360 on the SPY before this is all over (another 15+% down) but will likely have a few tradable rallies before we get there. 

Any thoughts on setting a stop just below the 61.8% retracement?
My working theory is that triple bottoms are very rare and if we lose the 61.8, we're likely going to have another leg lower where the market can start trying to find a bottom again...but I'd love to hear any contrary opinions out there. 

Thanks for the guidance on this trade. I got in yesterday and split the middle on your suggestion for targets last night. Just filled to complete probably the largest scalp / 1 day trade I've ever put on.  I'm typically more of a swing trader, but this market seems to call for taking profits when you have them!

ASPS starting to look good. Higher rates, lower growth, midterms, etc all potentially play into this watchlist pick from a while back. 

Did you overlay these Fibs backwards? 

I'm thinking an eventual touch of 3600 (if not lower) - we're due for a visit to the 200 week MA area. 

Probably a 100% crypto portfolio   

EXPE - nice break out but I don't get it. How did it escape getting flushed in the recent correction? It's got a negative PE and the analyst ratings are not great (the 4 I primarily follow). But it is making making a new 52 week high and an all time high today.  Strange. I'm obviously missing something. 

BVN working out nicely.
I bought a bunch of calls early last week (surprised I got filled so easily) and they're nearly in the money now. 

ETH broke above the 20 first today. BTC was stuck underneath it, but now trading above also...

Thanks for this info nugget. I've been wondering why a chart will look like a symmetry break sometimes and you comment that it stalled at symmetry. Makes sense now (with your comment about waves vs. total move) 

Ooops. I'm looking at QQQ cycles....

Thanks

Zoom -  on days like today I'm missing the live version Matt used to link to! Looks like the 60 and 120 stopped out today based on yesterday's levels.  Anything showing up on the shorter time frames?

VIX
Matt, is that dashed line on the chart around 22 a buy stop level?  Seems crazy that the VIX is still in the low 20's with the market down as much as it is. I'm not sure if that a good or bad sign at this point.

GDX dead, or just barely sitting on support?