Monday March 18th, 2024 Newsletter and Video

Posted by matt on 18th of Mar 2024 at 09:13 pm

Youtube Video  Monday March 18th, 2024       - watch in full 1080 resolution on tablet or desktop NOT your phone

PLEASE leave a like and comment, helps the Youtube Algorithm to get out stuff more visible - I appreciate the support!

Newsletter Monday March 18th  standard Webpage Format  - contains all the dynamic chart links

TNDM bullish setup on daily/weekly. 

Posted by kingpin15 on 18th of Mar 2024 at 07:26 pm

TNDM bullish setup on daily/weekly. 

Sold SQQQ 11.08    in 

Posted by rbreese on 18th of Mar 2024 at 04:24 pm

Sold SQQQ 11.08    in   AH. 

ES Possible Map

Posted by steve on 18th of Mar 2024 at 03:53 pm

Chart to go along with my comments below

MACD Divergences indicator - this

Posted by DigiNomad on 18th of Mar 2024 at 03:35 pm

MACD Divergences indicator - this nailed the top today and it's often worked well for me. I have it set to send an alert when it triggers bear or bull divergences.  I adjusted MACD setting to 3 fast, 10 slow. Seems to line up better until used on longer time frames....then12/26 is fine. 

Nice. Tho how do you

Posted by mschwand on 18th of Mar 2024 at 03:46 pm

Nice. Tho how do you filter that one divergent peak between the two Demark 9 peaks today? (e.g., no break of the low of the previous candle?)

Good question. I didn't create

Posted by DigiNomad on 19th of Mar 2024 at 02:08 am

Good question. I didn't create the indicator, it's from the TV community. I wouldn't take a trade only on divergence. Looking for confluence of multiple indicators and also use as a warning a warning not to trade against it. Also, the first Demark after breaking through a cycle to the upside with authority is usually the end of wave 3.  

That divergence indicator also does work well on 1 min and below time frames for scalps... kind of surprisingly. 

Related

Posted by ruidoso on 18th of Mar 2024 at 03:14 pm

Related

Volume!

Posted by ruidoso on 18th of Mar 2024 at 03:10 pm

Volume!

TLRY too, 60mm, and pretty

Posted by shellson2 on 18th of Mar 2024 at 03:57 pm

TLRY too, 60mm, and pretty much everyone. 

Including the aptly named YOLO,

Posted by mschwand on 18th of Mar 2024 at 04:04 pm

Including the aptly named YOLO, lol. Not finding a lot of related news on the sentiment shift besides Kamala talking up a potential reclassification (sked I to III, apparently)

Internals - last week was

Posted by DigiNomad on 18th of Mar 2024 at 03:03 pm

Internals - last week was the first dip below zero on the composite indicator since October....barely below. 

Posted by ruidoso on 18th of Mar 2024 at 02:56 pm

Posted by ruidoso on 18th of Mar 2024 at 02:54 pm

Posted by ruidoso on 18th of Mar 2024 at 02:45 pm

IWM and SMCI -  "as

Posted by DigiNomad on 18th of Mar 2024 at 02:53 pm

IWM and SMCI -  "as part of the addition to the S&P 500, it is being removed from the small-cap Russell 2000 (IWM). Mott Capital estimates that SMCI has contributed about 16 points or roughly 8%to the index this year. The index is up approximately 8%, meaning that SMCI is responsible for 100% of the index's gains this year."

So, IWM dodged a bullet today but what is going to take it higher now that it lost it's biggest contributor to gains? Regional banks? 

Re: IWM gains, SFM and

Posted by foody518 on 18th of Mar 2024 at 11:13 pm

Re: IWM gains, SFM and WING, clearly   

"So maybe the cycle break

Posted by DigiNomad on 18th of Mar 2024 at 02:21 pm

"So maybe the cycle break will be a reversal instead of a wave 3 indicator" - nailed it. Now I need to do that with something that's easier to trade   

MNMD Updated View

Posted by steve on 18th of Mar 2024 at 02:20 pm

IWM might have dodged a

Posted by DigiNomad on 18th of Mar 2024 at 01:47 pm

IWM might have dodged a bullet by losing SMCI. Definitely helping them out today. Would have been a much lower day today if SMCI was still dominating the index. 

TNX / 10 year yield

Posted by DigiNomad on 18th of Mar 2024 at 01:44 pm

TNX / 10 year yield - broke through sell cycle on both the 5 and 10 min (to the upside).  2 bars outside the bollinger bands on the 5 min so maybe the cycle break will be a reversal instead of a wave 3 indicator.

Triple leveraged bond funds I was seeing advertised last week don't seem so silly now. 

ES has a potential triangle

Posted by steve on 18th of Mar 2024 at 01:34 pm

ES has a potential triangle formation off 5257.25 first dip would be wave a  then bounce wave b down c and today's move wave d - 5204/5195 (50-.618 fibs)

Anyone have an opinion on

Posted by shellson2 on 18th of Mar 2024 at 01:07 pm

Anyone have an opinion on TTI--Tetra Tech? Thx

I worked a contract for

Posted by DigiNomad on 18th of Mar 2024 at 01:12 pm

I worked a contract for them back on the good side of the weekly chart (military bomb squad type stuff). Looks like they've had a rough go of it since then!  

SKEW daily - interesting look.

Posted by DigiNomad on 18th of Mar 2024 at 01:01 pm

SKEW daily - interesting look. I think of this as a measure of how many meme trader types are bidding up short term out of the money calls.  It has bounced from below the 200 EMA since ever since. Bounces lead to SPX berserko mode.  See if it can hold this time. 

Energy stocks continue to be nice

Posted by matt on 18th of Mar 2024 at 12:59 pm

SQQQ 120 min

Posted by matt on 18th of Mar 2024 at 12:58 pm

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