RTY had a slight gap down. Looked for a rejection at the 1448 level where we had a confluence of levels. Stochastic was overbought only on the 30 sec chart. Shorted 3@1448. Wasn’t thrilled with the price action since it came close to stopping me out when it hit a… Read more“TGIF”
Month: September 2020
Operator Error
I was looking for a potential bounce this morning after a big down day yesterday. RTY should have strong support at around 1427.5. There was a confluence of 3 levels. Also the initial downswing from the open was roughly 20 points which usually for RTY signals exhaustion. Stochastics on all… Read more“Operator Error”
Manic Monday
Indices gapped up this morning. Looked to short NQ into resistance at the dynamic pivot and previous day’s high which were both within the Fibonacci Zone (FZ) (shaded area). Stochastics were overbought on all time frames. Shorted 1@11287.50. Added 1@11306.50, the top of the FZ and another at 11311.75 with… Read more“Manic Monday”
Take the money and run
NQ gapped into resistance on the open. I was looking to short the dynamic daily pivot (dotted cyan line) at 1559.75 (colored circle). Unfortunately it didn’t make it that high. I got an second opportunity (yellow circle). Stochastics were overbought on both the 1 min and 30 second charts. Also… Read more“Take the money and run”
Weekend Thoughts
Although I trade futures, I do some stock scans here and there looking for trade opportunities on the daily time frame. I always keep track of the Monsters Of Tech (MOT) which drive the NQ. I use to call these stocks, the four Horsemen of Apocalypse (AAPL, MSFT, AMZN, GOOG)…. Read more“Weekend Thoughts”
Let’s do this!
After over a decade hiatus, it’s time to power up the blog again. After a huge down day in the markets on Thursday, the question is whether or not we would get a bounce on Friday. More often than not with such a large range day, there is a high… Read more“Let’s do this!”