Today's Reading for 2/27/24: 61.67 Current Reading: Tilting Bullish Additional Notes: Some catching up going on with the 4-day rotation into small caps and that's propelling all of the non-megacap-related sectors to push higher, and thereby improve the chart on the Stock Market Oscillator. Interpreting the Chart: 0-10 is "Extreme [...]
Closed the rest of ADBE at 552.50. To much resistance kicking in at the $562-5 level to keep holding.
I closed the rest of CVX at 151.38
I closed 1/2 of ADBE (1/3 of original) at 554.78 for a 0.5% profit.
Trading Notes: For a second straight day, you're seeing a rotation from the mega cap plays to small caps and the run in the latter looks set for a strong open once again today. GOOGL selling off over 4% on Monday is also adding additional selling pressures to the tech [...]
Today's Reading for 2/26/24: 62.23 Current Reading: Tilting Bullish Additional Notes: Signs last week that the oscillator wanted to break out of its range, finally materialized today. With the extent of the move in large caps, I still view this indicator as a significant divergence. Interpreting the Chart: 0-10 is [...]
I closed 1/3 of ADBE at 567.75 for a 2.9% profit.
Trading Notes: Huge week of buying last week on the NVDA earnings. Futures are essentially flat coming into the new week. I am open to adding new positions to the portfolio, but more likely to be a slow drip than a fast pour. While the market run continues to look [...]
Today's Reading for 2/23/24: 56.58 Current Reading: Neutral Additional Notes:Â Considering how long it has been stuck in the 40-60 range (more than a month), it indicates that while the indices are printing new all-time highs regularly, stocks as a whole have become very choppy and non-directional under the surface. Interpreting [...]
New Long Setup ADBE I bought ADBE at 551.89 My stop-loss is 527.95 Risk Rating: 4.3
Trading Notes: NVDA and the semiconductor industry at large carried the market yesterday, and looks to lead yet again today. Overall breadth remains an issue and the lightness of volume surrounding such a behemoth of a rally. Two new setups for today, one is in TSLA and that tends one [...]
Today's Reading for 2/22/24: 55.84
