Trading Block

Trading Notes: It looked promising for a bounce when futures opened up on Sunday night, but that quickly faded over night and now the bears are looking to extend the losses to a fifth straight day for SPY. While SPY is breaking below both short-term and long-term support, the tendency is to want to initiate new short positions

Trading Notes: Stocks had one of its more notable selloffs in 2023 today. It was a broad-based sell-off, and the best thing going for it was that even though MSFT and AAPL both finished in the red, they didn't follow the market lower to the same extent as the indices - that kept the sell-off from being far

Trading Notes: Overnight conditions worsened from where the market ended the day on Wednesday. Jerome's FOMC Statement and the presser thereafter created a nosedive reaction that is persisting into today's trading. I expect to be stopped out of NVDA and DKNG at the opening, and a good chance I'll proceed with closing out MU and going

Trading Notes: Today is FOMC Day and with it can come some wild price swings. Of late they haven't been near the craziness that we saw in 2022 from the market in response to the FOMC Statement and presser that takes place 30 minutes later, but it still has the potential to pack a punch if

Trading Notes: Following Monday's low-volume, sideways price action, there's a good chance you'll see more of the same going into Tuesday as the market waits for the Wednesday FOMC Statement at 2pm ET. I added DKNG as it emerged out of the bull flag on Monday. Semiconductor stocks are showing some willingness to bounce off of

Trading Notes: Stage is set for a slightly negative open. Friday's OPEX price action was strong and steady to the downside, and the focus is whether the bears can create additional follow through to what was seen on Friday. It is FOMC week, and there's a good chance the volume will be fairly light heading

Trading Notes: Stocks, despite a hot CPI, PPI and Retail Sales report, managed to hold their own this week, and SPY and QQQ are breaking out of the bull flag from the past 1-2 weeks. The market certainly has room to run, and assuming as much, I will look to add additional long exposure on

Trading Notes: The market has been in a four-day trading range that is essentially filled with doji candles and little direction during regular trading hours. Volume hasn't picked up as much as one would expect following the Labor Day holiday, and Big Tech has been extremely difficult for traders. Yesterday's NFLX was about as frustrating

Trading Notes: Tuesday saw QQQ and SPY trade in four-day, sideways trading range. The pullback yesterday in QQQ took a heavy hit on NFLX and as a result, I closed the position as it dropped back below its breakout level. With CPI out, should the market choose to rally, I could end up re-entering NFLX or take another position (or two).

Trading Notes: An afternoon rally yesterday built on its pre-gap higher, now has futures pointing lower, with a steady trickle of selling overnight. Ahead of the CPI report tomorrow, you may see a market vacillate throughout the day as it awaits the report. The 10-year yield is within grasp of taking out those highs from