- A little tentative trading giving back some of the gains from Friday
- A good chart looking at 90% up volume
- Holding off on new Trade Ideas as I want to see a few things stabilize first
- Watching the VWAP levels on the PPO monitor before adding more names long
Mid Morning Note
Mid Morning May 11, 2022
- Fast markets with whippy action after the CPI
- Some of my charts have stale annotations with the price action
- More changes on the Trade Ideas sheet
Mid Morning May 10, 2022
- Equity markets are fading off early highs and remain over yesterday’s lows
- Trading below today’s VWAP levels is a good tell and partly why I held off on adding long exposure
- I’ll wait for the DeMark Sequential buy Countdowns
- I’m on Real Vision Daily Briefing later today on the close – watch on YouTube
Mid Morning May 9, 2022
- Equity markets are now on lows with brutal declines
- The major indexes are getting closer to DeMark exhaustion signals
- Sit on your hands and avoid trying to buy anything as this sucker is going down
Mid Morning May 6, 2022
- Another weak open with a small bounce off the lows
- Breadth is very weak with some ETFs trying to lift above today’s VWAP levels
- No new Trade Ideas at this point. A lot of risk in the markets.
- Take profits on the SPY put spreads expiring today
Mid Morning May 5, 2022
- The market is giving it all back from yesterday
- Stay patient and hold the current shorts I added late yesterday
- Selling the remaining bond ETF positions – we will revisit
- This could get uglier if the 60 minute charts on ES and NQ can’t hold here