Trading Block

Trading Notes: So far, this eight day market rally has been unstoppable as QQQ puts in 8 straight days of trading in the green. Such moves are rare, and coming off of a V-Shaped bounce in which the market was in a full-fledged breakdown can certainly be frustrating  and difficult to trade, especially when the

Trading Notes: QQQ is pressing up against some heavy resistance off of the July highs (check out the Discord charts that I posted today), with that being so, I am looking to get confirmation here as to whether price intends to put in place a lower-high and reverse lower, or break trough resistance and trigger

Trading Notes: I am back at my trading desk today after being away for most of Friday. The rally last week took the market as quickly as you can imagine from being very oversold to now being overbought. The V-shaped bounce was extreme and a difficult one to chase after. I think at this juncture,

Trading Notes: In the final hour of trading, equities managed to finally kick the market rally into high gear. FOMC Statement saw rates remain the same, and now it is on to AAPL earnings tomorrow evening. QQQ has now managed to bounce higher for four straight days, with the dead cat bounce well underway. Much of the

Trading Notes: It is FOMC Day for the market and with it you can expect plenty of volatility and price reversals in the broader market. The fireworks start at 2pm EST with the FOMC Statement, followed up 30 minutes later with Jerome Powell's presser. Initial reactions to both of these tend to be volatile, even

Trading Notes: Decent bounce out of equities today, specifically large caps. I was watching closely whether QQQ or IWM would break above their respective 5-day moving averages, and while they both managed to do so intraday, the did not hold those moves into the close. As a result, I kept all three remaining positions in

Trading Notes: Equities are attempting to bounce today, despite another attempt by the 10-year yield to make a run at 5%. The underlying weakness in this market is extreme, camouflaged by strength in stocks like AMZN and MSFT that are rallying during earnings season.  We're far enough along here, where I won't attempt to add

Trading Notes: I wanted to tighten up, as much as possible, the risk in my bearish positions, so that if the market finally does initiate a dead cat bounce, much of the risk in my portfolio will have been taken off the table. If the bounce appears to be playable, I will also have the

Trading Notes: Wednesday's sell-off in the Nasdaq was the biggest so far of 2023. With GOOGL collapsing, and AMZN not too far behind, the weakness was incredible and couldn't garner a bounce all day. I added PSQ once QQQ started breaking below key support levels. but also trimmed some exposure in QID. Tomorrow, my focus

Trading Notes: Attempt at a bounce on Monday couldn't get beyond your Big tech stocks, as pretty much everything regressed, keeping SPY and IWM in the red, while QQQ managed to finish higher. I haven't seen a strong sense of panic on the tape here, and time is running out before the bulls attempt to