UPDATE July 20
It's been a while. I hope you all stayed bullish! But now, Caution ⚠️
There were some monster moves in there. I hope everyone got in some!
The rally is pretty stretched and tired 😫 but is it done?
I don't think we are done... But I do think we start to pull back. Most everything has ran really hot 🔥 and could use a breather.
NOTHING HAS FAILED YET
NOTHING HAS BROKEN DOWN YET
Understand that. We are not on the Titanic. We are still in a bull market. It's probably not the kind of market someone wants to trade in unless you find and play the individual stocks.
I think we bounce around up at these prices. Before dropping. I think we drop anywhere from 5-10%. This is meant to make traders think the end is near 🫨 so they buy crazy puts and dump positions. That is why I expect the market to swing. To make the bulls believe we are going back up and the bears to think we are going to new lows. I think we consolidate (distribute, build liquidity, whatever you like to call it). I think we have another push up, but after a pullback.
Up and Down but steadily dropping with plunges at Moving Average rejections. This is a failure and not a time to be buying. It is a good time to write (sell) calls and, if you are so inclined, to buy downside protection. I think this may last a few weeks or longer. If the 5 day MA starts to cross the 20 day MA that's a sign that the asset is in a downtrend until the 5 day crosses back above the 20 MA. (traders use different numbers for the 20, if you use any Moving Average from 18-22 the rule still applies)
The bears are correct and we drop farther if the 20 MA crosses the 50 MA on the daily chart. Until then, RELAX 😌 Be wise. Collect premium. Find profits and take them.
I wonder if this helps or not, but I will share a brief recap of what I traded yesterday...
☆ I sold and rebought (less than I sold and at a cheaper price) ☆
Had a great breakout on earnings, I'm looking for it to test below that 500 level. There is nothing bearish there. that is a stock that has broken out of a downtrend and it did it in a big way.
Sold after hours, I'm fine with that, I had reduced way down. I'm waiting to add more again.
I love my DEERE it has been a green monster, I think it needs a breather. The dollar drop helps big manufacturers who sell overseas.
this is a 2 hour chart ![]()
NOTHING bearish here. Unless price breaks below 122.5, I have no worries. Target of 139.
This is looking weak. I need to see something out of this. It needs to show me a decent push.
These are long dated, I only care about the daily chart.
☆ I sold out of (but kept stock) ☆
Labu is 3X of XBI. This also looks bullish, but it needs to push up and not drop below 81.
☆ I completely closed my positions in ☆
As I go over the charts, my exits may have been premature 😆
☆ I opened positions or added to ☆
I'm cautious ⚠️ here. I got the pop I wanted. Another shout out to Buffalo. Now I want go see if it builds or starts to sell off again.
Patiently waiting, big triangle 🔺️ 😁
☆ I rolled my positions in ☆
☆ I stood pat on ☆
Need it to break the downtrend and push to 210.
there are a bunch of other stocks I'm holding, but too many to fully go over.
☆☆☆☆☆☆☆☆☆☆
The INDICIES
looking over all these charts I'm going to guess the Russell looks fantastic.
I'm going to try something new. I will post this now and add to it with the index futures around an hour before open. New jobs data comes out today, that could give us a final push (for this leg)☆ added 8:15 am est
This does not look complete to me. This looks like it needs to hit that final line at 293, maybe jobs can do it.
This looks like it could push for a couple more days, still looks very bullish.
if we pullback it could lead to a cup and handle, watch for that to breakout. This look very bullish still. Curse me for taking profits, but they had run so much.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
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Engineer, Commodity Buyer, Alert Bettor,
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TinkerB3ll : Hi @iamiam do you recommend to keep LABU? I saw the star but was confused.
iamiamOP TinkerB3ll: labu looks fine to me. i was up 100%, so I decided to close my options
Mike Obama : got a tsll put i bought yesterday. selling at open
iamiamOP Mike Obama: nice
102826225 : At what level would you add back more Tesla shares?
iamiamOP 102826225: I'm not sure. it could bottom anywhere from here to 239. I need to see it form a basing and level out.
71881047 TinkerB3ll: All in today! Price $5.04.
TinkerB3ll 71881047: Be careful my friend labu not the most friendliest counter :) but good luck :)