bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment:  We actually got some movement in the market on Thursday. Still no volume though. However, we have the makings of a turn. We will have to see if this gets legs.

With regard to my DraftKings (DKNG) position, I have my STOP LOSS SET TO TRIGGER AT $40. It’ll be a solid trade overall and I will let some selling take place and look to re-enter the position at $30 or less.

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment:  My DraftKings (DKNG) position continues to hold well into the $40’s. I do like it all the way into the $70’s, but with the market topping out and lacking any buying interest. I am debating closing the position and waiting for a better setup once the overbought pressures get all flushed out.

I will of course report if I change the parameters of this position in my portfolio, but just a heads-up!

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Sell in May and go away remains in full effect in this market. Volume is just non-existent and price movement is nowhere to be seen.

Previous advances in BTC have topped out in this spot. Do the bulls finally have enough momentum to breakout? Keep an eye on the $74,000 level. Moving above that level would be an early signal to a breakout. BTC chart: https://sblk.io/s/xeygTlSAu5hGU3P

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment:  Summer Friday trading action has arrived. Less than two hours left in the trading day and we have 1.2M shares traded in SPY and zero price action.

Bitcoin remains in the pivot channel. Should see some decent acceleration if it breaks out the top or bottom of the channel. Chart: https://sblk.io/s/5RGztBSEFJtZcpn

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Bitcoin with a strong pop today. However, BTC has been stuck in a sideways move between $60K and $70K since February. Key resistance and support pivots have been updated for the chart below (link in case it doesn’t show in the Telegram channel: https://sblk.io/s/2NAvT6S5sKCzMSKr)

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Volume was pathetically low on Monday, however we start to get the key inflation reports this week and those will likely spur some action. The first of those is the Producer Price Index at 8:30am ET. So, keep an eye on that report and the market action in the aftermath of the announcement.

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Very low volume last week and a slow grind higher. We should see some action this week given CPI, but you never know. The past few “summer” seasons for the market have started in late April and carried to late August. These “summer” seasons have been marked by low volume with a slow grind higher. We will see if that is what’s in store for this summer, but if there is going to be movement then it will be this week. Hopefully we get some action to get the market moving and thereby some good trade setups.

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment:  The slow upward grind continues to new highs, but bulls cannot be happy with the pathetic volume for the entirety of the run. One of the days in the recent run-up saw the lowest volume since Black Friday after Thanksgiving…and that was a half day! Perhaps the sell in May and go away crowd is in full effect right now.

The lack of volume makes it tough to join the bulls with any degree of confidence, because if the bulls had confidence we would see more volume. It also makes it tough to be a bear because the bears are doing nothing to sell into this grind higher.

I will note however, while bears aren’t selling into this grind higher, we have yet to have a short covering pop at any point during the run-up after the recent sell-off. It would seem to mean that bears are holding their short positions despite the price action.

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Bullish price action in the markets, but my concern for the bulls is they aren’t triggering any short covering on this rally. So, it’s like the bears are saying “do whatever you want…we aren’t going anywhere”. Typically when prices got above the 50 SMA in the S&P 500, we would see a volume spike as bears covered…often signaling bullish momentum. So far these price spikes have been met with almost no volume. Very odd and something to take note of as we watch the action in the days ahead.

Bitcoin holding tightly under $65K. Bulls need to crack that level or another test of $60K could be coming and eventually that buy zone is going to run out of buyers and crack!

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the Financial Content Disclaimer at https://TSP.Live/financial-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: It is funny how desperate this market wants low interest rates. Less than a week after the Fed confirmed they are going to be holding rates up because of persistent inflation issues, one bad jobs report and everyone thinks rate cuts will be coming at the next meeting it seems. A little wacky, but that’s how the market can be. I will be curious to see the volume behind any move today. It’s been pretty dull in this market all year except for some spurts here and there.

Bitcoin is currently being held back by the 50 day SMA. Bulls need to crack that level. The $60,000 level remains the essential support for bulls to hold. Chart: https://sblk.io/s/9rYqCgS6f2hPcdZ

Good luck in your trades!