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There are also very long term macros at play. Specifically for USO. I took a starter short yesterday. I will post chart and entry later when I’m done feeding the kiddo.

SPY 425.86 / 428.72 have been pivot levels. We've lightly bounced here today, but we need to clear these levels, break that down trend as Blazin pointed out, but then you run into the 20D (433.76), a big level of 441.24 and then the 200D at 445.58. Until the macro environment changes, this is a...

Ooops. https://www.wsj.com/articles/amazon-flagged-to-justice-department-for-possible-criminal-obstruction-of-congress-11646827200?mod=hp_lead_pos1

Tmac 3x leveraged to be precise. But it works both ways. It will triple your losses if you screw it up.

VIX clue #1 and SPY / QQQ breaking new low and immediately reversing (rough triple bottom had formed 5min timeframe). As soon as it reclaimed and started moving up, I hit market on that TQQQ too.

3/8/22 16:42:09 BOT +500 TQQQ @40.8648

Got the chart for midterm+1 yr returns on the precipice of WW3? (jokes)

Biden speaking any minute. Live feed: https://www.whitehouse.gov/live/

That was my lesson of the Covid crash. Don't try and perfect a bottom with full size. Just find levels that make sense (support pivots and macro trend lines) and scale into your position.

We're still not in any kind of panic mode. The slow controlled burn is orderly. You want to be scouting your adds when we get the panic dumps like Jan 24 and Feb 24.

Still got the Jan 24th low pivot (420.76) to play with for support. I'd be shocked if we gave that up today. Failing that, we are back in freefall to 412ish

Airlines just getting smashed today.

Quite a bounce premarket. Guessing on this news? https://www.wsj.com/livecoverage/russia-ukraine-latest-news-2022-03-07/card/russian-ukrainian-foreign-ministers-set-to-meet-in-turkey-T1tSagKMKdiDvuw7pnym

1B moc sale. (Basically a non-event) See everyone back Monday!

https://www.kentucky.com/news/politics-government/article259056243.html https://news.yahoo.com/kentuckys-teacher-pension-system-says-163159349.html Basically.. no, they didnt.

% values are more meaningful. Also, this is a tough market. This is rough for most retail. They get chopped up in this kind of volatility. I am basically flat on the year in my long term account by actively managing.

JPM new 52w low. I added some back.

$2.5B sale MOC

Just wait for the next headline

I wouldnt exactly count on that: Putin Tells Macron Russia Will Fulfill Goals in Ukraine (3:30 p.m. CET) Russian President Vladimir Putin told his French counterpart, Emmanuel Macron, that he planned to fulfill the goals of his invasion of Ukraine, Interfax reported, citing the Kremlin’s press...

However, Janet is currently taking another grilling. https://www.banking.senate.gov/hearings/02/24/2022/the-semiannual-monetary-policy-report-to-the-congress

In fairness, I don't think he is stepping up for this. He is constantly being questioned by congress because of the lack of faith in his actions.

Absolutely. The market is trading pure emotion and headlines. At least it has respected technical levels of support and resistance. But the whipsaw between is completely headline driven for the time being. As an active trader, my work has been buy the dips and sell the rips. Not buying any kind...

Some ceasefire talks are on the agenda, hence the relief in oil prices & indexes bumping premarket.

In fairness, SNOW earnings released with an EPS miss, which was later revised to a beat (by 4x). Initial sell was hugely overdone. Interestingly, it held the all time low pivot nearly to the penny and has been running back since. Still down 18% premarket, but it is just grinding higher. It's...

No bueno. https://www.cnbc.com/2022/03/02/bitcoin-sanctions-could-be-next-as-doj-unveils-crypto-crackdown-plans.html

https://www.cnbc.com/2022/03/02/russian-oligarch-abramovich-says-he-will-sell-chelsea-soccer-club-amid-ukraine-furor.html This is pretty big news. One of the biggest Russian oligarchs basically going against the Kremlin narrative and offering proceeds of the sale of his Chelsea FC (worth...

Some trade circle chatter about possible no rate hikes in March. Fairly bearish if that holds true. Basically an admission of a rough future in markets. Recession?

There has to be some amazing BTC arbitrage opportunities. Get your shit together super nerds and take advantage.

Fairly interesting list of companies and sales #s associated with Russia / Ukraine. This is likely the repricing we are seeing today. https://www.bloomberg.com/news/articles/2022-02-28/russia-ukraine-risk-a-who-s-who-of-u-s-consumer-companies?srnd=premium-europe&sref=9HT8lz40

The theory is that Russian money is flowing in, as their currency plummets and they are being shut out of traditional money markets.

If you think the world markets with Russia are returning anytime soon, I have a bridge to sell you.

I've had my eye on JPM today too. The $140 pivot looked nice, but we opened and immediately didn't hold that level. Market as a whole feels kind of heavy today, so I am hoping we get a market move lower before I add. It is tough buying into strength in this market. SPY has had quite the move up...

Of course they are all inherently self-fullfiling. You can make any indicator on your chart you want. I can draw out 55 day, 136 day, and 212 day moving averages. The question is, who else is looking at those? Human nature likely went round numbers. Humans then programmed parameters into algos...

https://www.investopedia.com/terms/d/deathcross.asp#:~:text=The%20death%20cross%20is%20a,and%20200%2Dday%20moving%20averages.

You've got like 50 million indicators on your chart. I 've no idea what you've circled there.

FWIW, the QQQ 50D has crossed below the 200D now. (Death Cross)

Overall, we have had 2 huge days up Thu/Fri last week. We can consolidate here or even back test the SPY 428/425 levels and still be fairly strong. I honestly don't think we are in any kind of bear danger unless we crack and break back below 420-425'is range. We can consolidate and chop around...