- Ace in the Hole
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- Ace in the Hole - Edition #89
Happy Monday Traders!
I hope you all had an amazing weekend and were able to step away from the charts for a bit. We have an exciting week of earnings and economic data ahead, so get ready and let’s dive in.
Market Thoughts
$NQ_F ( 0.0% ) Daily Chart
Looks to me like $NQ_F ( 0.0% ) is building some higher timeframe structure here awaiting its next BIG move. Knowing that the market accumulates, manipulates, and then distributes leads me to believe that we will see a manipulation leg soon.
Whether that is upside or downside I’m not sure, but I would like to see manipulation upside to distribute downside and get a further pullback on this market. Either way I think there will be lots of opportunity here soon.
In the meantime, we may need to build more structure, which means more higher timeframe chop. The good news is, when you chop on a higher timeframe like this the intraday moves are generally still very good. There just isn’t a whole lot of follow through for swing traders during these times.
If this market just wants to fly higher and make new all time highs again that possible too, but we’ll see. Either way I will play what is presented in front of me.
Economic Calendar
Earnings Calendar
Trending Sectors
Financials, Consumer Discretionary, and Industrials were at the top of the list for trending sectors this past week.
Top trending tickers from last week:
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