EvanMedeiros

EvanMedeiros

A fresh breakdown in Apple from it's multi-week range isn't going to help the Nasdaq $QQQ stay away from its June lows, but it's a great immediate test for the market. If buyers, do in fact, bid into Apple and drive us higher into the close, absorbing the bad news, that could spark a bounce broadly, suggesting bad news is priced in, but it's on the buyers to...

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EvanMedeiros

In this video we recap the US stock market price action from last week and game plan for the week ahead. We break down the 3 possible scenarios the market may take next week and how to plan/structure trades around them. This video was specifically recorded for short-term tactical traders looking to catch a multi-day bounce, and does not acknowledge/discuss the...

EvanMedeiros

9 days in a row coiling sideways and tight puts Bitcoin on short-term breakout watch for some volatility expansion. In the coming days I'll be looking for a definitive breakdown of this range below 19,500 in the direction of the primary trend, or a counter-trend breakout over 20,500 to see if bulls can reverse the bleeding.

EvanMedeiros

USO (largest crude oil ETF) has been in a wide trading range for the past 2 months between 71 and 79. It's failed at all previous breakout attempts, but the more it tries and the longer this range carries on, the more likely the breakout becomes. No trade yet, but we're watching this zone to see if we can finally get some price expansion and volume on a move over 79.

EvanMedeiros

That high volume outside reversal session on Thursday 8/11/22 has kept control over ARKK over the past few sessions. The intermediate uptrend from June is still in tact, but near-term we're in pullback mode waiting to see if dip buyers arrive in the upper 40s to save this uptrend. ARKK is a great proxy for growth and risk appetite in long-duration tech.

EvanMedeiros

The market has been moving higher nicely over the past few days, particularly in growth and tech stocks, however, throughout today's session we saw that momentum reverse with a large number of outside reversals and stocks trading from green to red. Most short and medium-term trends remain in tact higher.

EvanMedeiros

Biotech was one of the first sectors in the market to show relative strength and catch some bids throughout the June bottoming process. IBB rallied 20% off the lows and then proceeded to consolidate sideways for 3 weeks. This Wednesday, IBB broke out of that consolidation with a gap up on heavy volume and is now finding more follow-through. Keep an eye on the...

EvanMedeiros

Beautiful technical breakout to the upside in ETH after fueling up sideways for about 30 days. Careful chasing or establishing new positions here and now, but bigger picture, this is a nice bullish change of character for Ethereum.

EvanMedeiros

The ARK Innovation ETF (ARKK) is the poster child for growth appetite in this market environment. It's been left for dead in a cascade of selling throughout 2022, but most recently, it's been showing some relative strength, bottoming price action, and is in the process of breaking out to 2-month highs. As long as ARKK is > 46.50, the growth (risk on) trade is on...

EvanMedeiros

The Nasdaq 100 is one of many examples this week that saw a surge back over its May lows, with positive momentum divergence. We're still in a primary downtrend, so nothing has changed from that perspective, however, with overall market sentiment in the dumps, squeezes like this can be quite extreme.

EvanMedeiros

After 4 days of intense selling, we're back to new cycle drawdown lows in the Nasdaq-100. Meanwhile, the selling has pushed us below the lower Bollinger Bands on multiple time-frames (weekly chart left and daily chart right). It's nasty out there.

EvanMedeiros

Not often do you see a 7% daily range start and finish at the same level. Fun volatility but it doesn't change Bitcoin's technical structure. Bulls are showing commitment under 30K but they need a breakout and momentum to pick up over 32K for another meaningful trade.

EvanMedeiros

Buyers are stepping up right where they needed to at important multi-month lows. Let's see if the turnaround can hold for a weekly close > 188.

EvanMedeiros

let's keep some eyes on this Russell 2000 ($IWM) 190 zone this week to see if prior support holds up.

EvanMedeiros

After taking just 1 day off the US Dollar and 10-YR Treasury Yields are back to pushing 52W highs. Need to see these two back off for any type of convincing equity market rally to take place.

EvanMedeiros

After consolidating for 1 month around 180, Gold is making its second attempt to break out and run higher. The longer term trend is in Gold bulls favor and so is the current macro environment. If it fails in the short-term, it's worth keeping an eye on for the bigger picture move up.

EvanMedeiros

We're looking at the US Government 10-year Treasury yield again and this time we're going back in time multiple decades to see the significance of where we are right now. High stakes area, to say the least.

EvanMedeiros

After a historic multi-week move, we're seeing crude oil futures pull back from highs after being extended well above their upper weekly Bollinger Bands.