If I would have to name one single quality in this game that separates the few winners from all the losers I’d point at persistence as what counts the most. There’s not one day that goes by when I don’t work my butt off to keep myself on the winning side of the tape. You’ve seen me post quite a bit of educational content as of late and it seems to have been well received as we got several likes by stocktwits and some renowned players. But at the end of the day knowledge and even skill means absolutely zilch if you don’t show up for work every single day and press that button when it’s time to take action.
We are seeing continued strength in equities now with buying interest becoming increasingly more assertive. If you are still long from the lows then I suggest you keep a loose trail around 1R – 1.5R away.
I currently elected to focus on the NQ as it seems to offer better daily context at this point in time. The daily and weekly panels show us clear skies until about 4271.25 – where we’ve got a weekly NLBL waiting, remaining active until late next month. The upper 25-day BB won’t offer resistance until about 4300.
On the spoos we are also good to go until about 1960 which marks daily resistance. The weekly panel shows us converging [...]
We’ve got a nice selection of setups this morning but let’s catch up with equities first. There was follow through overnight but as emotions are running high and bear avatars are in short supply we’re now descending lower once more. Very productive actually as we just may be building an intermediate base here.
The short term panel is now suggesting resistance near ES 1890 which just so happens to line up perfectly with a brand spanking new NLBL on the daily. So if we drop a bit lower today and the Zero is favoring a drive higher then that would be my target range. However if we run today then 1890ish is where I would start looking for a possible [...]
I hope you enjoyed a few days off – I certainly did and although I would love to boast that I spent my time productively I mostly wound up catching up with a few shows and training with my guys. Even Mole the machine needs to recharge his batteries every once in a while. However there’s only so much idle time I can tolerate and I intend to hit the ground running here as we are now heading into one of the most exciting periods of the year. So snap out of your tryptophan induced slumbers and let’s get to work!
On the equities side we are holding strong and you should move your stop below the 25-day SMA around 2077. We are now facing medium term overhead [...]