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They are meant to be guideposts - you should employ in
conjunction with your personal plan/risk tolerance. One thing
to consider, is to not be "all or none" trader when swinging.
For example, if you have large percentage gain depending upon
the stock's beta (such as 10 percent) you may elect to sell
part then trail stop on the balance. Again these are personal
decisions and there will be times where one option works better
than others but locking in gains keeps you ahead. It's also
wise to understand what I call "field position" of the overall
market structure. For example, after large selloffs and
confirmed reversals I would be more willing to be patient versus
following large moves and divergences present (such as now) where I
would be inclined to lock down gains (at least partials)
$SPX - Chart Link- one option here is that this
morphs into a triangle but there is distribution unfolding up here
(Note the RSI compression).
QQQ - Chart Link- here you go DK - again just
one option - an immediate selloff would negate this view.
The daily QQQ had a bearish engulfing candle on Friday.
SPX - was that a double top in the making? Let's see
how trader's position post OPEX - bulls have the baton but see
Most sectors are now displaying clear negative divergences -
still no change in structure but many are looking tired.
Perhaps one more push to form an Ending Diagonal (QQQ).
Last week lows are now pivotal. We still have NVDA
reporting this week (Wednesday). Overall, there is
distribution unfolding up here (large operators selling).
Lithium stocks have been absolutely crushed
ADBE - Chart Link- we spotted one of the first
casulties - just look at that red candle
Have a nice weekend everyone
Yes Betsy Ross Head is Spinning
Will be interesting to see how they position post OPEX
ES Support 5022/17 if falils 5015 then 5008/05 and 4998/91
holding support next level above 5040/44
Sliced that like nothing 9/10 day next target below
ADBE that's one massive red candle - save that for
This move up still fits within the confines of a Wckyoff Phase B
- which would imply lower prices being tested with patience.
Best to to actually trade the microcycles (level to level to
There has been a stealth trend unfolding oblivious to many
The top 1% now officially have more wealth than the entire
middle class of America…
“There has been no greater engine of inequality than the Federal
Reserve Bank of the United States.” - Stanley Druckenmiller
Just follow the trend and turn out the noise - when there is a
shift in structure you will be made aware Take some time to
closely study the daily/weekly charts and how the MA's are aligned
Financial conditions today are easier than when the Fed started
raising interest rates in March 2022.
Chart: Apollo (Big Boys)
Yes more traders follow - simple as that and notice the reaction
upon the first test. Thinking $160 reasonable target over
DG tags 200 day MA
ADBE - Chart Link - nice big red candle -
trim and trail
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