We started seeing these things set up over the last two weeks, and then we got confirmation on Thursday and Friday. On Monday, we got even more confirmation with IWM up again despite SPY and QQQ selling off. In addition, the Crypto space exploded! We are up strongly in the Moxie Indicator Trading Room because … Read more
The Moxie trading room has been very well positioned for today’s action. I have been guiding the traders in there that certain sectors and indexes have been flagging because they are waiting for rate cuts. Now, the market is getting more evidence that a rate cut is around the corner with the cooler CPI reading … Read more
Bullishness into the 4th of July worked out like a charm. Those of us in the Moxie trading room had a great couple of weeks. Now that the holiday week is over and the markets are at all-time highs, I figured they were due for a little rest. So, we took advantage of that and … Read more
The crypto miners finally had a strong day after several weeks of lackluster performance. Our main play, MARA, did extremely well on Monday with a vertical move all day when it finally showed strength coming out of a multi-week base. We continue to see strength from the Mega Caps, and the indexes themselves generally hold … Read more
Our AMZN and TSLA plays have done well even though the market has mostly gone sideways this week. The presidential debate is on Thursday, and I wonder if that is why the market is keeping calm. It should be interesting to see where things go on Friday and then into the 4th of July. Click … Read more
Some of the indexes have been trending lower since NVDA is finally coming down. It appears that money is moving around the market instead of exiting, which is a good thing. Without NVDA taking all of the air out of the room, other stocks can start moving up and we see that with Breadth. Click … Read more
More and more people are starting to notice and comment on the breadth divergence. I have been commenting on it for a few weeks and, on one hand, figured it was low enough to provide room to the upside. On the other hand, if it stays bad, perhaps it could weigh down the market. Monday … Read more
CPI came out much cooler than expected, and the market popped on that data. By the end of the day, however, there was a lot of selling off. We can’t yet know if that was a sign of real weakness or just the market needing to digest such a big move. Time is needed to … Read more
NVDA has now split and managed to recover from its morning drop. The indexes were able to also shake off their opening drop, but got a little erratic towards the end of the day. I am keeping things close and light going into the FOMC on Wednesday because the market seems to be in a … Read more
Yesterday seemed odd to me with the markets running higher all day. I think some of it was due to Canada lowering its rates by 25 BPS. I figured the market would relax today, and there could be an opportunity to trade the market sideways. Here is how it went so cleanly. Your Profit Pilot, … Read more