Overall market trend: Bullish phase – day 4
Yesterdays market: Money entering the market – Normal buying pressure
TC2000 McClellan: 88 high end of range
Stocks above 40PMA: 56%
VIX: 18
Seasonality: April is typically a strong month
Indices:
$QQQ: Uptrend
$IWM: Uptrend
$SPY: Uptrend
$DIA: Uptrend
$BTC: Uptrend
$SQQQ: Downtrend
$UVIX: Downtrend
1%+ sectors yesterday:
- $XTL +3.55%
- $HACK +2.40%
- $IYT +1.70%
- $IGV +1.66%
- $XLE +1.47%
- $XLK +1.14%
1%- sectors yesterday:
- $TAN -1.50%
- $JETS -1.44%
- $IBB -1.06%
Main sectors monthly trailing:
- Leading – $XLF $XLK
- Lagging – $XLV $XLP
Sub sectors monthly trailing:
- Leading – $SMH $IYT
- Lagging – $TLT $TAN
Bitcoin: Under the 200sma at 75k ish
Themes: Semis, Tech, Financials
Are breakouts likely to work for the next 3 – 5 days: Yes but expect some backfill / consolidation
Are breakdowns likely to work for the next 3 – 5 days: No, unless war related
Should I be trading: Yes, but stocks up +20% in 5 days is over 100, anything over 100 is considered frothy so expect some kind of pullback
Stock goat 