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Lots of selling in MSFT right before the bell. (Earnings after)

^^ I did say an inside day is perfectly fine here. We can chop sideways all day and I still consider that constructive. ^^

Crazy vid I ran across today. Cramer basically revealing the market manipulation in hedge funds.

@TJT have you seen my burst dps!?

For further clarification, my main trading setup has a whole monitor that is split between SPY and QQQ 5min charts with these major pivots plotted out. Between them, I have a $TICK chart. So, I am very closely monitoring these for market alignment with whatever trade in an individual name I am...

I am adding these in manually. They give me another level of confidence when buying into any given stock. If the market as a whole is pulling back, but coming into a major support level at the same time a particular stock is pulling into a level, you get a more significant chance of a support...

Aren't you tired of your mom kicking you off the internet when she picks up the phone!?

Levels I can see:

@Sanrith Descartes fairly close yes. There's a little bit of support around 420 (hey!) and the next is 415, but failing that is nearly a straight shot down to the 400-403 gap. This is why holding yesterday's low is fairly important today. Far easier reading these levels if you use big boy...

This is certainly possible and healthy if we simply have an inside trading day. As long as we don't give up yesterday's lows, we are just fine going sideways for today.

Umm.. I think you're referring to a reversal. That's not a pivot.

The official term can reference intraday, but I also tend to use it when referring to technical levels over longer periods of time. Basically finding levels of support / resistance on the Daily timeframe to look for some level of support on the current intraday. So, QQQ level I cited at ~342.7...

@Sanrith Descartes 342.73 pivot QQQ, however I think SPY is (has been) in the driver's seat.

@Sanrith Descartes Got the same weird print on eSignal charts, but not on TradingView charts.

I don't think anyone is expecting Fed to back off rates. The risk and concern you've seen in markets is a 50bp surprise. Hiking 25bp is expected and likely seen as relatively dovish.

Seriously though, it's completely normal to backtest after a turn. Not to say it can't fail (especially with external factors), but we are looking for it to backtest and hold before a move higher. Taking out yesterday's lows would pretty much panic the markets. We just want a higher low put in...

https://en.wikipedia.org/wiki/Germanwings_Flight_9525

Oops! https://www.bloomberg.com/news/articles/2022-01-24/small-fry-traders-saw-massive-selling-binge-before-stock-rebound?srnd=premium&sref=9HT8lz40

Crypto bounced because the stock markets have. Plain and simple. There is no technical reason for any crypto relief today, other than stock market bounce. Until some specific coin has a catalyst for a real move higher, they're bound to market moves for the time being.

Eh, @Sanrith Descartes you definitely hold your own here. I always listen to what you and Blazin have to say. Your advice is absolute bedrock foundational trading for 99% of the people in this thread.

As an active trader, this doesn't have to be the big reversal to go back to trend. This is all about scaling in, positioning yourself big enough at the right time(s) for upward moves. SPY

@Blazin What gave your conviction this was the bounce? What was your QQQ entry point? My last big SPY add was 428 on the big vwap reclaim before we rocketed off.

Fairly shocked how close the SPY got to the 200D just before the close. What a fun day to watch unfold.

Props to @Blazin for seemingly nailing this bounce. Lets all just hope it sticks.

MOC 2B buy side. Get wrecked bears

Fuck yes, it is hot garbage on Mac. I use Parallels to use a few legacy Windows programs. That is exceptional VM software. You can literally swap back and forth and literally copy paste between the two OS. You can see your mac desktop items on your windows desktop, etc. It's exceptional. If...

Feeling pretty good. Went from a largely cash position early this year to about 73% into the markets as of today (scaling major MA / support pivots) in key stocks and indexes over the last weeks of market selling. #feelsgoodman Now someone please tell Putin to calm his tits.

I typically give anything Seeking Alpha a pass. I did at least google who this guy is. Fairly interesting: https://en.wikipedia.org/wiki/Jeremy_Grantham#Views_on_market_bubbles_and_the_2007%E2%80%932008_credit_crisis But he basically says he can identify when bubbles are present, but never...

Are you implying the cash you needed on a house deposit in the immediate future was out there in the stock market? That's not really ever a wise choice.

From this: To this:

MTTR is getting tempting down here. But I'd prefer to see a bottoming of market before going into longer term growth names.

Grabbed SPY, JPM, NVDA, and a few more MSFT today.

Both SPY and QQQ at some support here. My BP is going down. 40% cash left.

More of this wont help either: https://www.wsj.com/articles/russia-hatching-plot-to-replace-ukraine-government-u-k-says-11642890601?mod=hp_lead_pos3

AAPL earnings will have a pretty big weight on the indices. Remember in December AAPL just kept powering onwards and upwards? These were the headlines at the time: https://www.bloomberg.com/news/articles/2021-12-02/apple-tells-suppliers-iphone-demand-has-slowed-as-holidays-near?sref=9HT8lz40...

Talking trends: Previously, we had almost perfectly timed monthly dips (often timed with options expiry) and in days would recover and continue to new highs. First change in the trend was September. We dipped far harder out of channel and took far longer to recover, hell the first bounce was...

Closed on the lows with some big volume (options expiry). Let's see what next week brings.

1B MOC sale.

I always keep a chunk on the side for short term opportunites. Maybe we get the Fed surprise with a .50 interest rate hike opener, or Russia gets frisky with Ukraine. Might not happen, but I want plenty of dry powder ready to fire if either happens.

FWIW, I'm still 60% cash shopping for bargains. (Was 85-90% since sentiment shifted)