Everything is dying. Significant selloff premarket in spy through all activity of day prior. /ES is at level below which I’ve not charted ($3960). Is this the market mind pricing in something beyond interest rates? Is war going to escalate? The market seems to have prescience collectively over these sorts of things.
Real estate, again, was the move yesterday, I did not play it as I should have, though I was watching it. I was afraid it had dumped too much already then got distracted by other plays. Give names the first 5 minutes to work out. then use the next 25 minutes to trade before what often happens at 7am (10 am eastern) the ’10am reversal’.
HD looks to be opening below significant $290 level. This could be a good area to short from, a good level to trade around. This is a significant level on the daily, and what looks to be a bear flag on the daily is playing out, along with what seems to be meaningful downside pressure across the market, this could be a reasonable opportunity, just hope not too much more selloff happens premarket.
TGT looks to have formed what could be mini head & shoulders on the daily & if the pattern is the case, it has closed below the neckline with enough room to validate the pattern & more room for downside movement.
Not much seems to be immediately jumping out, either that or I’m feeling apprehensive, maybe unprepared & rushed since I was a little later to my computer (sat down at 5:45 am Market opens at 6:30). HD & SPY seem like solid plays with good levels for stops on each
FB seems to be forming something of a Bear Flag on the daily, & there is a sheer drop beneath 193 level from massive gap up a few days ago. Let market play out a bit at open, & if downside momentum manifests this could be a promising move. If not today, then perhaps later this week or next.