Hey Market Pilot,
This week the market is all about inverse trampoline moves – a revealing setup in price action. Using the S&P 500 (SPY) and Nasdaq (QQQ) as examples, I’ll point out this pattern on my charts.
But what is an inverse trampoline move? It’s a market pattern that is comprised of two distinct characteristics:
- Price over the 50 SMA
- Moxie Indicator™ below zero
In the video, I explain why I’m expecting price to pull back. I explore more examples in names like Apple (AAPL) and AutoNation (AN).
More notes to include about this market:
- Watch out for long setups! They might not be as safe as you think.
- I’m stacking up on short setups! Right now I’m more bearish than bullish.
Overall, I’m still approaching the market carefully. There are still many catalysts that could come into play, so double-check your rules before entering a trade!
Interested in identifying inverse trampoline moves? Learn more about the Moxie Indicator™ HERE.
Your Profit Pilot, TG