Trading Block Update

2024-04-15T09:12:13-04:00April 15, 2024|

Trading Notes: Strong sell-off on Friday that managed to close just above the 50-day moving average. Potential for a large scale war between Iran and Israel after the former launched a drone attack over the weekend. The market saw the escalation in tensions as bullish and is setting for a [...]

Trading Block Update

2024-04-12T00:58:48-04:00April 12, 2024|

Trading Notes: Strong bounce back on the surface for SPY and QQQ but overall breadth was dismal and held up largely by the  mega cap, big tech plays. Not a great deal of confidence to be had by this market here, but follow through with strong internals on Friday in [...]

Trading Block Update

2024-04-11T00:29:43-04:00April 11, 2024|

Trading Notes: PPI report due out on Thursday - which should usher in another fresh round of volatility, following Wednesday's hard sell-off from CPI. If the PPI doesn't come in hot like the CPI, I would expect the bulls to ramp this market higher. If it disappoints, it will be [...]

Trading Block Update

2024-04-09T23:35:53-04:00April 9, 2024|

Trading Notes: CPI report comes out on Wednesday and it is likely to lead to a major price swing for equities. This could be the first opportunity in the last three days to make a swing trade in this market, depending on the direction and whether a clear trend can [...]

Trading Block Update

2024-04-08T23:33:52-04:00April 8, 2024|

Trading Notes: The light volume in this market continues and that is concerning as a shock event to this market will be difficult for the bulls to absorb. This week has plenty of potential with CPI tomorrow, and PPI on Thursday, while bank earnings also kick off later this week. [...]

Trading Block Update

2024-04-08T09:04:38-04:00April 8, 2024|

Trading Notes: New week ahead with plenty of headline events with the CPI report coming out on Wednesday morning and the PPI on Thursday morning - both events before the market opens. Also the typical Fedspeak throughout the week as well. Some concern remains with the market following Thursday's heavy [...]

Trading Block Update

2024-04-05T09:03:22-04:00April 5, 2024|

Trading Notes: Yesterday's heavy sell-off took SPX down over 100 points from the highs to the lows. Once again the bulls are back at it, bidding up overnight futures and taking what should have been a very bearish jobs number and spinning it bullish for the hope of buying the [...]

Closed IWM

2024-04-04T14:12:29-04:00April 4, 2024|

I closed out IWM at 206.66. Selling picking up heavy momentum across the board. Back to cash and will consider new positions tomorrow after the jobs #.

Closed AMD

2024-04-04T13:10:13-04:00April 4, 2024|

I closed AMD at 176.64. Bearish engulfing candle kicking in here and relative weakness vs other semis far too much for my liking here.

Trading Block Update

2024-04-04T09:11:24-04:00April 4, 2024|

Trading Notes: The market is showing a willingness to bounce in the pre-market as all three major indices have key trend-lines they are trying to bounce off of, following yesterday's test of each, with SPY and QQQ setting up for an attempt at new all-time closing highs. I am open [...]

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