QQQ – closed on week lows 3 days of orderly selling post open
-below 10/20 day EMA
50day SMA- 470.43 important spot and only one average daily move away— See ATR
On a flush below the 50day would look for a buy point if it can form a higher low but for now I’m not looking to catch a slow falling knife
Vehicles of Trade-
SQQQ
TQQQ
SPY- below 10/20
50day – 539.73 well within reach
– 3days orderly selling
– will see this week if we can flush out and reclaim not interested in trading related vehicles just looking as a guide
IWM- Relative strength
-above 10/20/50 day moving averages
TNA- vehicle of trade for IWM will look vs 42.50- 43 for a bounce play
Notable Earnings so Far
UNH- will look vs 550 area for dips to buy
ISRG- will look weak open 10am trend join
VIRT- needs a couple of days but big change in trend here
Crypto- what a move Friday on CRWD security breach/update debacle strongest sector on my board by far. If market gets into real trouble i expect it to fail but for now i will be looking at following names to join on dips along the trend. Especially if these names can form a couple of inside days, things like COIN / MSTR can be at new yearly highs quickly. I am noting that its a choppy market right now so its good to have multiple scenarios out there. Don’t assume to be right before the market confirms you are.
MSTR
COIN
HUT
Volatility- VXX move up through the 50day sma at 11.16 , I expect ranges to widen and things to be a bit choppier. Monitoring
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