Overall market trend: Bullish phase – day 8
Yesterdays market: Money entering the market – High buying pressure
TC2000 McClellan: 55 cooled off but still elevated
Stocks above 40PMA: 60%
VIX: 19
Seasonality: April is typically a strong month
Indices:
$QQQ: Uptrend
$IWM: Uptrend
$SPY: Uptrend
$DIA: Uptrend
$BTC: Uptrend
$SQQQ: Downtrend
$UVIX: Downtrend
$TLT Downtrend
1%+ sectors yesterday:
- $TAN +4.30%
- $SMH +2.62%
- $IGV +2.38%
- $XLK +2.20%
- $XLE +1.20%
1%- sectors yesterday:
- $JETS -3.25%
- $IYT -2.33%
Main sectors monthly trailing:
- Leading – $XLY $XLK
- Lagging – $XLE $XLU
Sub sectors monthly trailing:
- Leading – $SMH $IYT
- Lagging – $TLT $TAN
Bitcoin: Under the 200sma at 78k ish
Themes: Semis, Tech, Metals, Retail
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 or scalps
Should I be trading: Yes, overbought conditions eased with 20% study back below 100
Stock goat 