Market Analysis for The Week Ahead
Is it "So Over?"
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I posted a “Trading Doggy Style Starter Kit” that I think will benefit both free and certainly paid subscribers. I will continue to build this out over time with additional videos, examples, and explanations.
Trading Doggy Style Starter Kit V2
Last week was a rather wild week in the markets. Coming into the week we had some concerns that NQ was being distributed in the 22000 range I’ve included the NQ portion of last week’s video and some thoughts ahead as Friday’s late action flashes a bit of a warning sign. It can be seen on YouTube here: NQ Gap down
or watched here directly:
As mentioned in the video, Friday’s move also was nothing but a return to weekly VPOC which isn’t abnormal on a given day or week that sees a late excursion away from it. The location from which the sell originated, however, cannot be ignored. I still hold that NQ ultimately decides the fate of this market even though we have thus far seen some solid rotation to keep SPY 0.00%↑ reasonably constructive. YM (the DOW) and ES have now flashed a bit of a warning sign that we need to factor in. If we get correlated selling as opposed to rotational selling (as we have seen) then that is where we must remain cautious in buying dips. The warning signs on ES and YM keep this possibility in the back of my mind (see the pictures below).