Is That the Bottom?
Hi Shoppers, You may not have seen it in time, but the market moved exactly like I said it would on Thursday night. So where do we go from here? As of Friday afternoon, S&P 500 futures have bounced. They traded below the 50-day moving average (the average closing price over the last 50 sessions, […]
Somebody turned 12 million into 100 million
Hi Traders, Between May 7 and May 21, somebody bought roughly 200,000 put contracts on two Chinese online brokerages. Short-dated. About 12 million bucks total. Puts are bets a stock will fall. Short-dated ones expire within days, which makes them cheap and makes them worthless fast. On May 22, Beijing announced a crackdown on unlicensed […]
This Is Extraordinary
Hi Shoppers, I want to show you something extraordinary. It is my Invesco QQQ Trust (QQQ) Daily chart: Look at how nicely we bounced off that support of the pitchfork median line and the uptrend line convergence. And this is exactly how it happened: At 12:39 this is what I wrote in our Traders Slack […]
The Perfect Setup
Hey Shoppers, I have a new trade idea for you and it’s a good one because it’s nice and cheap and has phenomenal risk reward. Check out the chart of NuScale Power (SMR): It has made its way to the bottom of my pitchfork once again and looks to honor that support once again. Wednesday’s […]
The best part of my week isn’t the calls
Hi Shoppers, I've been trading options for more than thirty years, and I still remember who taught me. Somebody on that floor took the time to show me how the game actually worked instead of letting me get run over by it. I've never forgotten what that felt like. That's the whole reason I do […]
Your pitchfork setup starts Monday
Hi Shoppers, Are you day trading yet? If not, why not? Look at how perfectly the S&P 500 (SPX) tracks my pitchfork (a charting tool, built by Dr. Alan Andrews back in the 1960s, that maps three trendlines around price to show where buyers and sellers keep stepping in) on the five-minute chart: It honors […]
The Trend Has Changed
Hi Traders, The trend has changed. Yep, we've cleared all that resistance I've been talking about on the S&P, and we're trading higher. Check it out: On Friday, we bounced off my support level and got a doji candle (price opened and closed in nearly the same spot, a sign the trend may be turning, […]
My signals have been spot on since the 18th
Hi Shoppers, I sure hope you’ve been reading my free email 0DTE Daily. It sends you my market prediction for the day along with the support and resistance levels… to the dollar, which have been honored perfectly! I also tell you if it is a green, yellow or red light for the day. I have […]
The Calm Just Broke
Hi Shoppers, Here's what I'm seeing: the path of least resistance is lower. Look at a daily chart of the S&P 500. Each bar, or "candle," shows one full day of trading, and watch how tall and angry they've gotten since June 3: Now compare those to the candles going back to April 17. They're […]
The SMR Trade On My Radar This Week
Hi Shoppers, Take a look at this setup in NuScale Power (SMR): It just made a double bottom (the stock dropped to about the same low twice and bounced both times, a sign sellers are running out of gas) right off our channel support (the lower trendline where buyers keep stepping in). Now it's pressing […]