Situational Awareness:
Market Condition: Weak/Choppy
Commentary:
I don’t see anything of note today. FED Decision later in the day I assume we will be choppy until that time. 2PM Est for the Decision. A rate hike is widely expected. Ultimately I will just be following price action but my useless take is that if they don’t raise rates then there will be questions on FED Independence which might trigger a sell off. There must be huge pressure on Warsh right now.
Regardless, I don’t want to do anything today. I am about 35% Invested right now with some remaining longs. That seems about right here.
The T2108 is falling steadily. It’s currently in the high 20s. Sub 20 is an extreme oversold event. Last one was March this year. I think we’re going to get there this month. This is a chop yourself to pieces market. Less is more, smaller size and faster management is prudent.
Trade Updates:
Current Positions: DELL, OKTA, HTFL, NIQ, TEAM
Stocks in Play Watchlist:
Stocks in Play Watchlist (TradingView Link)
Safe Trading!
Sean Sharpe