In this week’s Friday recap video, we’ll break down the week’s progress. Many names, along with the overall market, are pulling back to the buy zone near the daily 21 exponential moving average (EMA).
We’re looking to buy the dip using the Big 3 buy signals. In the video above, we’ll break down why we want to buy the dip and which names are looking poised for a solid move higher.
In today’s video, we’re providing a sneak peek into Chandler’s Premium Day Trading Room Video, where he reviews the last two weeks of price action and how that builds into his bigger picture market thesis.
To watch the full video, join the Simpler Day Trading room.
On the weekly chart, the S&P 500 (/ES) got through its bearish structure and hit resistance above. With the market changing direction, we need to learn when to buy the dips and when to go short.
Looking at the bigger picture helps form a better intraday thesis. The bigger picture shows major levels you may miss on an intraday time frame. This helps to enter trades at bigger inflection points.
Stay Focused!
The market dipped recently, but do we buy it? As it pulls back to the 21 EMA, look out for confirmation on shorter time frames before getting long.
I am currently long on a few names and Bullish into February. Today I review some current positions I currently have on, and a few other setups I’m looking for.
Last week the market survived tech earnings.
This week is all about the Federal Reserve as Federal Reserve Chairman Jerome Powell is set to speak at the Economic Club on Tuesday at 12:40 p.m. Eastern. On Wednesday, additional Fed speakers will present at 9:30 a.m., 10:00 a.m., 12:30 p.m., and 1:40 p.m. Eastern.
On Thursday, Initial and Continuing Jobless Claims are reported at 8:30 a.m. Eastern. The UMICH Consumer Sentiment Index data report will follow on Friday at 10:00 a.m. Eastern.
Last week, the S&P 500 (/ES) broke significant upside levels and reached zones above. With the market at major levels, see if /ES will pull back and head towards my main upside target of $4,175.
Check out the video above for a breakdown of my critical levels on /ES, as it surrounds major structure. I also review the gap on GOOGL and other levels to watch.
Stay Focused!
Is the bull market back?
At the moment, things are fully aligned for more upside opportunity. $4,100 is our key level to watch on SPX as it is previous resistance.
If things do unfold to the upside, there are names on our focused list that are setting up. We’ll use the Big 3 Heat Map to analyze the setups on ROKU, ZM, and TSLA across multiple time frames.
While I can’t share the proprietary Big 3 Heat Map, I created a free “Moving Average Heat Map” for our subscribers that might not have the Big 3 indicator.
Here’s a flexible grid for the MA heat map: http://tos.mx/NDnDM3X
Stay Focused!
It was an eventful week with the Federal Reserve rate increase announcement, big tech earnings, and non-farm payrolls.
The market is better aligned for the bulls than it has been for over a year and half now. In the video above, we’ll analyze the S&P 500 (SPX) from the monthly chart down to the 1-hour chart.
We’ll also review trades taken this week in Options Gold, the Compounding Growth Mastery, and individual trades I took. The key is to focus on the types of setups that over the course of many trades can leave with winning results.
In the Sunday video, we’ll break down the names on our focused list in more detail. Until then, have a good weekend, spend some time with friends and family, and give your pets some love.
Stay Focused!
Tech earnings are wrapping up this week, with Amazon (AMZN), Apple (AAPL), and Alphabet (GOOGL) reporting after the bell on Thursday afternoon. On Friday, the Nonfarm payroll will be released at 8:30 a.m. Eastern.
The S&P 500 (/ES) broke significant upside levels on Thursday after Federal Reserve Chairman Jerome Powell’s speech on Wednesday afternoon. Powell stated the Federal Reserve will raise rates by a quarter point.
/ES closed above its major weekly trendline from last year. Let’s see if /ES breaks higher and continues up or if earnings bring the market lower.
Check out the video above for a breakdown of my critical levels on /ES as it continues higher. I also review levels on /NQ ahead of tech earnings.
Stay Focused!
The Federal Open Market Committee (FOMC) event happened today and Federal Chairman Jerome Powell spoke, causing the market to rally. My main focus in this video is on $SPX at $4100; this could be the best chance for the Bulls to take the market higher.