- 💥The late-day sell-off in the market resulted in a significant drop, with the S&P 500 falling from 443 to 439, highlighting the volatility and potential instability in the current market conditions
- 📈The use of shorter term time frames, such as a 30-minute time frame, allows for more accurate analysis and the potential identification of support levels in the market.
- 📉"It was a 1.9 percent loss and you know as far as losses go. It was a good loss to take because the definition of trend that seemed to be emerging in here when it made that higher high was invalidated when it made the lower low right here and it saved us from taking a much bigger loss."
- 💡If the market is unable to get back above the declining 20-day moving average and breaks support, there is a potential scenario for a 50-day moving average test, which could lead to bigger selling in the semiconductors.
- 💡The anchored volume weighted average price and moving averages can provide potential levels where sellers might gain control in the stock market.
- 📊"I would rather short here and then look to cover some on that breakdown, similar to selling the breakouts."
- 🛢️"Oil has broken above the Anchored VWAP from the April high for the first time and closed above it, so maybe this has a little bit of legs we'll see."
- 💰"We had some great winners, particularly in $CLSK, a Bitcoin miner, with a nice move from four and change up to six."This is the chart shown in the video so you can analyze it more carefully.
The charts below are constructed with 30 minute candles. The green arrows show swing trade entries outlined for Alphatrends subscribers. The red arrows show the suggested exits for the trades.
- The first 1/3 is typically taken off quickly to reduce risk.
- The second 1/3 is often taken off on a "breakout" to sell to the chasers.
- The final exit is based on the definition of trend (higher highs and higher lows) when the pattern is broken, the definition of trend no longer exists, so there is no reason to continue to hold.
These are the types of trades shared with Alphatrends subscribers everyday. Have you taken a two week trial yet? See the link below.