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Intro

Tuesday

SPY neutral.

QQQ neutral. Continue to watch 377 level.

Macro trend flat on a down day. Could be buying the dip.

Realtime prints high volume GLD, AMZN, AAPL, META. The charts all look very different to me, and I’m not able to glean direction from any of these trades.

Close prints high volume TSLA AMZN. Again, the charts look different to me.

Prints are not very telling tonight. When that happens I turn to charting. The SPY & ES charts are out of sync due to futures running during the holiday weekend. I’d really like to see SPY come down and tap the 445 / 446 level and hold there for another move up. The ES chart is sitting on the 50 day moving average right now, which could be a good place for a bounce.

In a nutshell, I’m short term bearish and longer term bullish. Best thing to do is let levels guide you.

One more note and an example of how to trade based on reading the newsletter. On Friday, I talked about the RR oscillator predicting a market drop. Both of my children have brokerage accounts, and they were both 100% long in IWM since around the 200 day moving average (maybe 2 weeks). I moved both accounts to cash on Friday for 3% – 4% gain. Not bad for a 2 week trade. Today IWM dropped 2%. Now I continue to watch the oscillator to see if the 4 hour resets.

 

Wednesday

Today SPY dropped to the 20 day moving average and bounced there.

QQQ lost the 377 level in the premarket.

 

SPY PRINTS

If the boys bought the dip today, I’d expect to see around $6B of trades at todays close in tomorrow’s data. Yep, we have to wait until tomorrow.