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- Ace in the Hole - Edition #65
Happy Monday Traders!
I hope you all had a great weekend and are excited for a new week ahead!
Plenty of economic data this week to keep us busy and hopefully bring us some fun trades.
Let’s dive in.
Market Thoughts
We have seen a solid pullback in the markets with $QQQ getting a 10% correction. I have played way more shorts than longs lately and I’m personally enjoying it.
There is so much volatility that the moves I look for play you very quickly and look very clean in this environment.
When volatility is low it is good for the market going higher, but drains volatility which makes it a very hard environment to day trade in.
Overall continuing to play day by day and not get too wrapped up with what’s happening with the markets and the new administration and just take it all as opportunity in front of us.
Short-Term Setups This Week:
$NQ Weekly
The only setup I’m putting on the newsletter is $NQ.
We’ve had some good downside moves recently and I do think we can go lower, but I’d like to see a rebalance to this bearish inefficiency first.
The market moves for 4 reasons.
Rebalancing to equillibrium, rebalancing to inefficiencies, hunting liquidity, or generating liquidity.
In this case I think we need to bounce to rebalance to this bearish inefficiency before going lower.
50% retracement of the entire weekly range is $21,043.
Earnings Calendar
Economic Calendar
These data points are known to bring volatility during the intraday:
Tuesday 10:00 EST, JOLTS Job Openings
Wednesday 8:30 EST, CPI
Thursday 8:30 EST, PPI
Friday 10:00 EST, Prelim UoM Consumer Sentiment & Inflation Expectations
Trending Sectors
The Automotive Sector, Healthcare, and Consumer Staples were at the top of the list for trending sectors last week.
Top trending tickers from the past week:
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
Discord:
Access to all of my trades as well as 10+ other analysts’ trades.
Weekly classes from my mentor.
EDU Channels/Access to EDU Content.
Easy access to talk with me.
Have A Great Week!
As always, enjoy the week and trade safe everybody.
Let’s make some $$!
Discord:
Access to all of my trades as well as 10+ other analysts’ trades.
Weekly classes from my mentor.
EDU Channels/Access to EDU Content.
Easy access to talk with me.
