Hello Everyone,
Quick Notes: Yet another boring consolidation day, basically 2 1/2 days of sideways movement (view the 15 min SPX chart for example). Honestly guys I don't see anything standing out and nothing has changed technically. The Rut does concern me some and needs to gather some strength soon, but otherwise no technical changes for the major indexes. One thing to note the # of stocks in the S&P 500 is now over 95%, that's getting a bit frothy, however remember that is not something
to trigger off, just an observation and something to monitor over time.
The VIX is now near its lower Bollinger Band line and one now should be on the lookout for a possible bounce off of that area.
Gold and precious stocks have pulled back some the last couple days, however for now it looks more like constructive consolidation and a possible buying opportunity.
Bitcoin is still coiling on the daily time frame as are most stocks that follow the cryptos. MARA who I consider the best player in that space has had a nice 2 day pullback, one could start to monitor lower time frames for possible entries or places to add to existing shares.
As far as trade ideas one concerning thing short term is that I'm not finding any good setups, in fact I didn't add any new setups tonight.
have a great evening,
Matt
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4/5: SPX DVT = 3875, 2 day candlestick chart 3850