It’s the first week of May — a time that historically sees selling. However, the S&P is hovering around new all-time highs while the Nasdaq experiences a Faangover. Let’s talk about the tickers that are pulling back, along with key earnings opportunities in UPWK, ATVI, CZR, Z, and more.
Dips are retracements, pullbacks of the trend; the NASDAQ is still very much an uptrending market.
Euro and Aussie are up next for buy setups, and the NASDAQ has traded down into our “buy the dip” zone.
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.
We have seen good signals for the past two weeks, but going into next week the signals have shifted. Let’s review the signs and check out our watchlist.
I break down the tendency from the trend and share the outlook I have as we near the summer trading season.
US dollar shorts have worked if you know where to look, and there are new trends emerging as many more established trends have gone consensus.
In this video, I’m looking at the Daily, 120 minute, and 10 minute time frames for support and resistance. Have a wonderful weekend!
