Today in the markets:
$SPX $SPY $ES
#SPX bounced yesterday from 100DMA, moved higher today on slightly lower volume
Still below 20DMA. Failure to regain that level will be a significant crack in the October rally
Break below 3900 would be the death of the rally
#ES_F #SPX
$DIA $DJI $YM
#DJIA and #DIA have been rejected from 20DMA yesterday and today, but #YM_F closed above it today
It is important for DJI and DIA to close above 20DMA
It bounced yesterday from the lower edge of its trading channel
#DowJones #YM_F #trading #options #DayTrading
$QQQ $NDX $NQ
It bounced yesterday from channel support &continued today with slightly lesser volume
It's still below 20DMA, but still in a short-trend uptrending channel, and a mid-term downward channel
It need to close above 20DMA
#QQQ #NDX #NQ_F
#trading #Options #NASDAQ
$IWM $RUT $RTY
It has not finished closing the gap
It bounced from channel support, was rejected from the 20DMA and printed a small inverted hammer, which could be followed by a bullish day tomorrow
It has led the way up, and this pullback, let's see what it wants to do next
$DJT #Transportation
Still behind $DJI, not a good symptom
Down yesterday on higher volume and barely green today on lower volume.
It has found support at 100DMA, and needs to bounce from there and catch up with DJI to bring optimism to bulls
#DJT #XTN #trading #Options
$SPX stocks above 50DMA Index
It's above support
It used to indicate pullbacks when exceeds 90% and comes back below.
It printed a mini inverted hammer that could be a bullish signal, but with caution
Breaking below support won't be a good sign
$ES $SPY #SPX #ES_F #trading
#SPX stocks above 200DMA Index
Re-tested the breakout above the dominant trendline, it's too early to say it succeeded
Today it had trouble with 20DMA, and printed an inverted hammer
It closed at 55%, above the critical 50%, and above the 200DMA and trendline
It has not broken
$SMH
#semiconductors had a great day today going up on higher volume.
Still in a consolidation range, but looks good to help the market move higher
One of the best of the bunch was $NVDA.
The market is beaten, but not broken.
We would have liked the Breadth indicator to have performed better today.
We continue to trade cautiously until the indices regain the 20DMA level.
unroll @UnrollHelper
#SPX #ES_F $SPX #QQQ $SPY $IMW #trading #DIAI $DIA #options
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.