Navigating the Storm: Cash Strategies for a Market Correction During a stock market correction, it is natural to feel anxious and wonder if going cash in one’s portfolio is the best course of action. As a seasoned trader, I’m here to tell you that going to cash during a correction is not a rookie move
Resistance on Amazon (AMZN) worth watching Previous two attempts to push through have failed. Teekay (TK) short-term bullish action with a bounce off of the rising trend-line and push through declining resistance Volatility Index (VIX) sitting at a major support level, where recent reversals in equities have taken place. Â
Amazon (AMZN) unable to hold on to key support here. Still possible though, and be careful of, a bear trap here with oversold market conditions. Ideal conditions for Uranium ETF (URA) entry would be on a pullback to the rising trend-line once a bounce materializes. Buying here at overextended levels, creates a high risk scenario
Big break this week for Amazon (AMZN) weekly chart. Needs to hold this level into the close tomorrow. Netflix (NFLX) support levels to watch. Very little reason for me to want to play this bounce so far. No basing taking place, and support has yet to hold. Carvana (CVNA) inverse head and shoulders going back
Apple (AAPL) in one week has wiped out over 6 weeks in gains, and could be headed for a much bigger pullback to long-term support. Heavy resistance seeing a break today. Strong volume of late as well for The Mosaic Company (MOS) Amazon (AMZN) coming up on major long-term resistance. Volatility Index (VIX) continuing the
AMZN earnings was a huge beat! Here's my technical analysis breakdown for what to expect from the stock going forward. AAPL earning wasn't well received by Wall Street and the stock sold off!
Recursion Pharmaceuticals (RXRX) Perfect example of why you shouldn't FOMO into a trade at the open. Traders down more than 15% since the open. Risk/Reward can't be managed. Kinder Morgan (KMI) breaking out of a short-term ascending triangle but worth being mindful of declining resistance overhead and nearing $18. Ascending triangle in Amazon
Despite yesterday's breakdown, Honeywell (HON) has quickly reversed course and now on the verge of a breakout. Quite the clown market we are in. Caterpillar (CAT) intraday breakdown of support has now seen a sharp intraday rebound. Watch declining resistance above. Communications Sector (XLC) ripping higher on Meta Platforms (META) earnings, but closing
ARK Next Generation Internet ETF (ARKW) continues to see heavy rejection at the declining resistance level going back to last May. A lot of people chasing Amazon (AMZN) despite the fact it is trading on the underside of multi-year declining resistance. Better to wait for that resistance to clear first. Semiconductor ETF (SMH)
Watching for Super Micro Computer (SMCI)to pullback to the rising trend-line for a potential bounce play. Rumors of an AMC Entertainment (AMC) buyout by Amazon (AMZN) shooting stock price up, and potential creating a breakout scenario. However, in doing so it will keep a lot of long-term bagholders ($10+) from ever colonizing the moon. Lands