Today in Focus: Patience

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Market Condition: QQQ Below 50MA, 10 EMA below 20EMA. VIX Rising

Commentary: There is nothing happening right now to suggest that buying is warranted. Especially in tech stocks. The QQQ is -

Below 10, 20 EMA

Below 50MA

10EMA Below 20EMA and Sloping Down

Add to that the VIX is rising. The SPY and the DIA held up but likely to see similar correction. When the VIX is strong it’s better to do nothing or focus on leveraged ETFs like TQQQ or SOXL for a bounce. My threshold is pretty high to be looking to get long ETFs so I’d want an extreme. We’re not near that. For now it’s time for those who specialise in rangebound price action.

There is Iran commentary today. I still don’t think we go back to full conflict here. More likely Trump walks back his comments.

PENG earnings last night were really good with Large beats across the board and raised guidance but the reaction was lackluster and the market conditions don’t support it. Maybe if we bounce hard it can come into play. Add it to watchlist though for a delayed move.

Also (while I have downtime!) I wanted to mention I’m exploring moving the newsletter over to Substack. I’ve already setup my profile there. There are pros and cons with all platforms but Substack allows more of a community discussion which I would enjoy without going down the Discord route! I will automatically move subscribers over. They have a great App also so it should make it easier for people to access the newsletter. If you wish to get a head start you can Subscribe here - https://stocksinplay.substack.com/ For everyone else nothing will change. You’ll still get the same newsletter to your Inbox.

Current Positions: APPS, DFTX, BB, ABVX,

Stocks in Play Watchlist (TradingView Link)

_{Note: This is my methodology for identifying stocks in play. There are many valid approaches to trading catalysts—find the setups, timeframes, and risk parameters that align with your strategy.}