Pushing Higher After Testing Lows

Yesterday the market was broadly down, we saw tickers from tech to telecom slumping and forcing the S&P and Nasdaq lower. Today it’s up!

Pushing Higher After Testing Lows Yesterday the market was broadly down, we saw tickers from tech to telecom slumping and forcing the S&P and Nasdaq lower. Today, we are seeing the markets up broadly with the tech sector soaring over 3.3% by midday alone. If you have been following my updates for the last week you’ve probably grown tired of hearing me (or reading me) say “No Man’s Land” between the lows from last Thursday and the initial gap down the week prior… Well, yesterday (especially immediately post-market) put those areas to the test with a big push down beyond the lows. This is the moment I’ve been waiting to see: Whether we’d break down to a deeper correction or if the buyers would step in at the lows and force this thing back up. Here’s what it looked like…   As you can see over the last few days on the QQQ (Nasdaq 100 index), buyers flooded back in and bought the dip in pre-market trading even before markets opened this morning. It feels like buyers don't want to let the market correct any deeper right now… Granted, we’re just looking at a single day of trading, but this feels like the first piece of a bullish puzzle coming into play. I’d now put the odds that this is a minor correction and we’re headed back up at 60% or so compared to the total 50/50 coin flip I would have given you last week. And I think we’ll get a few more pieces to this puzzle very soon! More earnings are hitting the tape the next couple of days with Meta’s (META) being a huge one to watch today. They’re scheduled for 5 pm Eastern time 1 hour after close. As of now, the Magnificent 7 — Microsoft (MSFT) , Apple (AAPL , Google (GOOG), Amazon (AMZN), Nvidia (NVDA), Meta (META), and Tesla (TSLA) — are setting up for a serious continuation after going all the way to the lows less than 24 hours ago.   Meta’s reaction today has a chance to put this continuation into hyperdrive or stop it in its tracks so I’ll be very curious to see both how they perform, but more so how the market responds to the release… whether good or bad. If they perform well and the stock gets punished, then we have a clear sign that sentiment, especially around tech, is still down. On the flip side, if META is somewhere around the “OK” benchmark and investors rush to buy up shares (which is fairly common with a stock like META that has taken a recent pullback), we could see optimism back in full swing. Let’s watch and see…  — Nate Tucci  P.S. One benefit of this up move is that it puts us in play for another Automated Option trade this Friday! We’ve avoided the last two weeks due to bearish conditions and been on the sidelines, but we’re ready to pounce if the market cooperates. We’re 10 for 11 trades in the service and I am looking for our next one, so be sure to join us before it triggers!

Pushing Higher After Testing Lows Yesterday the market was broadly down, we saw tickers from tech to telecom slumping and forcing the S&P and Nasdaq lower.   Today, we are seeing the markets up broadly with the tech sector soaring over 3.3% by midday alone.   If you have been following my updates for the last week you’ve probably grown tired of hearing me (or reading me) say “No Man’s Land” between the lows from last Thursday and the initial gap down the week prior…   Well, yesterday (especially immediately post-market) put those areas to the test with a big push down beyond the lows.   This is the moment I’ve been waiting to see: Whether we’d break down to a deeper correction or if the buyers would step in at the lows and force this thing back up.   Here’s what it looked like…   As you can see over the last few days on the QQQ (Nasdaq 100 index), buyers flooded back in and bought the dip in pre-market trading even before markets opened this morning.   It feels like buyers don't want to let the market correct any deeper right now…   Granted, we’re just looking at a single day of trading, but this feels like the first piece of a bullish puzzle coming into play.   I’d now put the odds that this is a minor correction and we’re headed back up at 60% or so compared to the total 50/50 coin flip I would have given you last week.   And I think we’ll get a few more pieces to this puzzle very soon!   More earnings are hitting the tape the next couple of days with Meta’s (META) being a huge one to watch today. They’re scheduled for 5 pm Eastern time 1 hour after close.   As of now, the Magnificent 7 — Microsoft (MSFT) , Apple (AAPL , Google (GOOG), Amazon (AMZN), Nvidia (NVDA), Meta (META), and Tesla (TSLA) — are setting up for a serious continuation after going all the way to the lows less than 24 hours ago.   Meta’s reaction today has a chance to put this continuation into hyperdrive or stop it in its tracks so I’ll be very curious to see both how they perform, but more so how the market responds to the release… whether good or bad.   If they perform well and the stock gets punished, then we have a clear sign that sentiment, especially around tech, is still down.   On the flip side, if META is somewhere around the “OK” benchmark and investors rush to buy up shares (which is fairly common with a stock like META that has taken a recent pullback), we could see optimism back in full swing.   Let’s watch and see…    — Nate Tucci    P.S. One benefit of this up move is that it puts us in play for another Automated Option trade this Friday! We’ve avoided the last two weeks due to bearish conditions and been on the sidelines, but we’re ready to pounce if the market cooperates.   We’re 10 for 11 trades in the service and I am looking for our next one, so be sure to join us before it triggers!

ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Jeffry Turnmire Trading provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Jeffry Turnmire Trading are for your informational purposes only. Neither Jeffry Turnmire Trading nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Jeffry Turnmire Trading is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to reunisoft.cryptonews@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub

ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Jeffry Turnmire Trading provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Jeffry Turnmire Trading are for your informational purposes only. Neither Jeffry Turnmire Trading nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Jeffry Turnmire Trading is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to reunisoft.cryptonews@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub