Sell in May and Go Away is coming through, at least in the Nasdaq, but the S&P and Dow have held up strong. However, I think that is about to change. I am eyeing pullbacks in all three indexes, and looking at key levels to start buying down below. Additionally, there are key earnings reports coming up in several tickers, including RBLX which reported today, PLTR, DIS, YETI, SONO, and more. Let’s talk about what I’m doing with them and why.
I talk about setup zones on the Daily and the 120. Please be careful though… the 5 and 13 are crossed to the downside, we are now under the 50, and the only moving average on the bullish side is the 200.
Finding relative performance is the key to watchlist building, and daytrading is no exception to this. Look in the less ideal places for trades and you miss the better setups. Here’s what today’s Dow setup led to in the sectors.
Connective threads. Relative outperformance. Trading sectors on the short term time frames. Let’s recap today’s morning session in preparation for tomorrow.
We got a signal change again this week, to the upside… let’s look at three stocks that are poised to participate in the move.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Watching the market for entries immediately after the bell can be tricky, but there is one exhaustion level I always look forward to seeing. I explain it in this update.
