What the Tech?! Breakdown of Trades from Today's Trends
Overall, a great trading day, even if the second half brought frustration.
Super Tech to the Rescue! The rebound today is on shaky ground as it was squarely done on the back of the tech sector. If you are looking to go Long, keep an eye on data and news regarding the tech sector, especially your major tech companies such as Google, Apple, Meta, NVidia, etc. One thing that causes people to question corporate earnings in those companies, and we are going to likely continue that original push down.
Trends moved all over, with the 30m and 1h both finding two different trends in a single day.
We broke through that Uptrend Line we had discussed, but did not confirm movement through it and came right back above. That leaves us still between the two potential triangle movements. Which one is correct? Which is a fake?
Take special note of the lower volume during the up move today, especially that last portion going into the closing that was mostly stagnant in price as well. Definitely will be interesting to see what the overnight sessions have, with several commodities, including Oil, plummeting down in price.
I'm definitely feeling less Bearish at the moment. Maybe 55/45 now?
Safe trading! Remember your risk management plan!
Disclaimer - This is not official financial or investment advice.
Super Tech to the Rescue! The rebound today is on shaky ground as it was squarely done on the back of the tech sector. If you are looking to go Long, keep an eye on data and news regarding the tech sector, especially your major tech companies such as Google, Apple, Meta, NVidia, etc. One thing that causes people to question corporate earnings in those companies, and we are going to likely continue that original push down.
Trends moved all over, with the 30m and 1h both finding two different trends in a single day.
We broke through that Uptrend Line we had discussed, but did not confirm movement through it and came right back above. That leaves us still between the two potential triangle movements. Which one is correct? Which is a fake?
Take special note of the lower volume during the up move today, especially that last portion going into the closing that was mostly stagnant in price as well. Definitely will be interesting to see what the overnight sessions have, with several commodities, including Oil, plummeting down in price.
I'm definitely feeling less Bearish at the moment. Maybe 55/45 now?
Safe trading! Remember your risk management plan!
Disclaimer - This is not official financial or investment advice.