112 [Can the the indices hold the rising 20 SMA support? May 4, 2020]

  • SHOP still showing rs, building htf rn, if markets don’t go much further down should be great long setup. I think it needs to go sideways a bit more, so the 20day can catch up.
  • We are at a point in the markets where we could get a big rally, but if we don’t, watch out below.
  • If we get a bounce in the markets, airlines sector will be my main focus.
  • W stopped out for about b/e. It’s flagging here. We’ve had several down days in the markets and W has been going sideways, so that’s big sign of strength.
  • GDX looks strong, GLD also found support on the rising 20day. So I may buy back NUGT. Fading a bit, which is good, I really want these things to go a few more days of sideways.
  • MARK added a little, think this could be the next pump job.
  • CAPR, over 9.15 no that’s way too high. Why would you wait for that high? That’s like 15% from now, that’s chasing. If anything, if it takes out hod, but it needs a range. I was thinking about buying over this 7.80/7.90 area. You need to see these ranges formed before the breakouts. Just wait for a tight range to form on the 5min or the 60min chart, then you don’t have to chase it over 9.15.
  • INO this is probably the one trade I should have done today. I just really wanted to see it act weaker, like maybe gap down below Friday’s highs, I got so into that mindset that it should get down there, that I totally passed on it.


  • TSLA, it’s a special case. It’s just how it is.
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