The scenario laid out last night gave a good swing entry in $SPY and $QQQ today
buyers are back in control of the intermediate-term trend, which puts them in alignment with longer-term trends
my swing stops are below today's low
buy strength after the dip
⚓️VWAP
Support & Resistance are OFTEN found at
✅ key moving averages
✅ prior consolidation zones
✅ key ⚓️VWAPs
✅ Fibonacci levels
etc..
But NOTHING works all the time, risk mgt is job #1
There are no certainties, don't listen to ppl who say what WILL happen, NO ONE knows!
$AFRM ...
Feels like another squeeze attempt brewing in this highly shorted stock(20% short interest). Held above Friday's pullback lows and making an INSIDE DAY candle.
Targets: $22
Study the charts below closely!
This simple yet extremely effective process is the core of my trading and stock scanning strategy and what I strive to teach/share.
PEG candles, followed by consistent ACCUMULATION VOLUME patterns are always going to be stocks of High Interest!
ADP "This is the second month we've seen a full percentage point decline in pay growth for job changers. Pay growth is slowing substantially, and wage-driven inflation may be less of a concern for the economy despite robust hiring." -
Something I have been paying more attention to lately, Divergence between % of $QQQ stocks above daily VWAP vs price action
the 11am high >10am high but less stocks were above daily VWAP
available on TC2000 https://t.co/gdpMJeDS1R
$SPY
Richmond Fed President Barkin Says There Is More Willingness Among Businesses To Try To Increase Price, And That Will Continue Until Demand Falls; Inflation Is Going To Be More Stubborn "Than Many People Would Hope" - Reuters
$SPY
Fed's Mester Says Everything Is On The Table For June FOMC; Fed Must Look At All The Data That's Coming In; Fed Still Has More Data To See Ahead Of June FOMC; Won't Prejudge Outcome Of June FOMC Meeting
$SPY
Fed's Mester Says Data Confirming Inflation Is Still Too High; PCE Inflation Data Underscored Slow Progress On Inflation; Fed Has Made Slow Progress On Inflation, It's 'Concerning'; Tighter Monetary Policy Still Feeding Into Economy
Given that $NVDA made new all time highs in After-hours today...
At this point, there's now a good chance for $AMD of reaching the late 2021 highs. The recent volume patterns have been quite telling...