Lovin’ the reversion to mean trade with mes!

My thesis has been that the market was frustrated by the Gov's inability to get Israel and Ukraine funding passed. Look at when the rally REALLY got moving back in the fall...right when Israel went into Gaza and the US passed the bill to fund their war. Market has another huge chunk to work with now...

ROKU  earnings thurs anyone playing options this is the bottom ?

VIX <50% retrace longer term and <38% near term

Can't figure out those crypto miners. CLSK rolls on, as do many of the lower priced names. But RIOT rockets while MARA, with the new STS buy, stalls out. 

$SPX - Chart Link

SPY. filled morning gap and popped again @ 495.53 

NVO -  probably a scalp short here, but I'm going to take a shot long if it pulls back to session VWAP.  $124.40 would be a perfect bear trap area and it's just above VWAP.

Earnings - I seem to remember that weeks with big tech reporting in a downtrending market will typically run up right before or right after the reports and trap eager bulls. Often vicious traps.  This action right now feels like attempting to shake off the weak bull hands before the run - which is likely an ill fated run but could still be very profitable for traders. Market will always try and trap on both sides to the greatest extent possible.
*My assumption is the big tech earnings will CRUSH. Why wouldn't they since their biggest customer is the Fed Gov and they are not price sensitive?  The question is whether Gov spending is accelerating or flattening out. My guess is that the acceleration is at least slowing.  

https://twitter.com/i/status/1782205154374078592

Divergence is a very popular and powerful TA observation, and most commonly used for the MACD and RSI. One of the educational tops I've discussed recently is that when you have MACD divergence but the second peak of the MACD is too far above zero -these MACD divergences mostly fizzle out or get blown out producing only a sideways consolidation on price vs a big sell off. Also, during such an event, the 60 Stochastic will be embedded above 80% giving further confirmation of a momo uptrend. 

When the second peak of the MACD finally recycles closer to zero, THAT'S the negative divergence that generally plays out. 

I mocked up these two educational charts for examples, 

DBA - Chart Link

DBA - Chart Link

$INDU - Chart Link

$INDU - Chart Link

CLF and NUE steel names bouncing at roughly the uptrend support. Both have earnings after hours today. 

could bitcoin be in a weekly flagging pattern since feb. If it is then altime highs are soon coming ?

BTC  divergence on short term time frames 

morning Matt and thanks. On HUT if you draw a line connecting the tops on the chart 10.94 and 12.15 could it actually be a wave 2 flat

FNGD - Chart Link-

RSG - Chart Link- KISS system went long in Oct and is still long

remember I put this out as a long setup last week because the last STS stop was very tight only 1% away from price, therefore the long trade looked like a good risk/reward ratio - and was an example of entering at trade where the system has already been long for months, because the STS was tight and price had a tight pattern

HUT - Chart Link nice follow through, congrats to the guy who bought a week ago

MARA - Chart Link

CLSK - Chart Link

PFE.   STS systems highlighted it Friday — cantor fitz has $45 tgt

TSLA - Chart Link- weekly, long term support is around that 110 - 120 area

TSLA - Chart Link- daily, gap exceeded