In this video, we look at the ES and SPX for clues about the market direction. I think the 200 point bounce we have had last week is amazing and I expect more. Next week is the “official” Santa Rally so get ready for more upside. Check out the video for Rally stats and also an End of the Year trade idea.
Whether it be index, sector, or stock, I explain how to identify clarity using a great (free) tool that will be helpful as Santa looks to be arriving next week and then how we will look for opportunity in Q1. The December psychology is different than January and seeing it is simple if you know where to look.
The headline says it all. We kick things off tonight with AAPL and some of my favorite end of day setups. We then rotate into my plan for next week and thoughts into the first days of 2022.
Triangle patterns tell us a lot about the likely path forward in markets whenever we can identify them. We might be seeing one form in the S&P 500, but only if we get a pullback soon.
TSLA has been under the weather for a while now, but if Tuesday wasn’t the shift for it, Wednesday must’ve been. It may not happen Thursday, but I think there are higher prices in store and these are the levels I’ll be watching.
How and why we know the rhythm of the market is still down this week and up the next? And why we should not expect a broad based rally.
With news circling around, let’s discuss the current market conditions. I want to show you what I’m seeing in terms of trend and structure, specifically on the weekly chart as it gives us a bigger picture view of the trend. This allows us to take the Monday through Friday volatility out of the picture.
What will it take for the S&P 500 and QQQ to rally to new highs? Let’s recap today’s session as the S&P 500 and QQQ had a small bounce on Tuesday. We’ll continue to tune out the news and focus on structure, specifically on the weekly chart. We’ll also cover what we’re looking for on AAPL, one of the better looking charts in the market.
If there is a “secret” to my daytrading, apart from volatility and volume, it’s this one candle that many daytraders don’t know to look at but can often confirm setups intraday. I walk through today’s example in the S&P which works regardless of whether you prefer the futures or options.
This time of year is a tricky one, the end of the year and quarter does the the beginning of some off market behavior. From tax loss selling, to rebalancing, to window dressing… One way to combat that is know the December rhythm and play intraday setups.