The W-shaped bottom begins …
While today’s rally was great, keep in mind this is where it is expected to terminate.
While today’s rally was great, keep in mind this is where it is expected to terminate.
I don’t make calls on the market without a good backdrop of price and data/fundamentals. When those dovetail then there is a real trade behind the movement.
There are some interesting characteristics of this market, and there are plenty of opportunities, here’s how I am breaking it down.
There’s a lot of bearish sentiment out there, but there are some bearish chart patterns too. I’ll be keeping both ideas in mind when following these setups tomorrow in BA and MSFT.
The Squeeze isn’t always used in the same way, but it most always suggests a big move. Let’s cover those in the indexes, CGC, and a few other equity names worth keeping an eye on.
Looking at the index futures, adapting to the volatility can be as simple as looking to shorter-term time frames.
Gold, Russell, Heating Oil, Crude Oil, Australian dollar, US dollar, bond, and more…
With the sharp move we saw in indexes this week and with so many earnings on the horizon, it’s a great time to stop thinking about direction and start thinking about volatility.
Calling bottoms isn’t always a fun game to play, but with some historical data and some extreme sentiment readings that’s what I’m looking for into next Friday. From there we’ll want to reevaluate, but this is my plan for the next 5 days.