June 17th premarket prep

Crypto Markets

The doji at the 200 day talked about yesterday acted as we would have thought. I entered a short under that doji and will be stoped out over the 200 day EMA. This is a simple trend continuation play.

ADA has the exact same look and no longer looking like it has realtive strength. — ADA has the exact same look and no longer looking like it has relative strength.

DOGE is doing worst then BTC showing some weakness. Looking at the different cryptos out here this is the first time in a while that they all look heavy.

Equty markets

Todays action should show everyone why I was holding off on doing much trading into the FOMC meeting as this spike down followed by buyers right after. Reacting to this for us swing traders is bad news in the long run. I look at todays bottoming tail as sucking in a lot of bears to come out of their caves. For tomorrow the highs and lows of this candle will be everything. Under the tail look out below. Over yesterdays high and things could get going. — Todays action should show everyone why I was holding off on doing much trading into the FOMC meeting as this spike down followed by buyers right after. Reacting to this for us swing traders is bad news in the long run.
I look at todays bottoming tail as sucking in a lot of bears to come out of their caves.
For tomorrow the highs and lows of this candle will be everything. Under the tail look out below. Over yesterdays high and things could get going.

Energy, Consumer discretionary, Financials and healthcare are the top indexes from today that held against the bear trap very well.

No notable news tomorrow so we are back to trading on technials. — No notable news tomorrow so we are back to trading on technicals.

Stocks to watch

SKX putting in a tweezer bottom until this pullback from this rounded bottom. This is a very strong names we are going to try to get a tiny bit out of its over all trend.

Englufing candle in MCS could signify the end of this pullback into a prior breakout point. — Engulfing candle in MCS could signify the end of this pullback into a prior breakout point.

PRAX was the short video from today. Looking to see if it holds its bottom. I like todays candle completely reversed the gap and crap from yesterday.

Would be a shorter swing scalp but this tight bull flag in CLNY looks like it could be a springboard higher.

Watchlists

https://docs.google.com/spreadsheets/d/1n0Lkgecm9LDu1j0CeYyDy-ix5BFRVivI4JUYNwnRUs8/edit?usp=sharing

my Thoughts

Now that FOMC is out of the way it’s always interesting to see what’s next. We as technical and quantitative traders don’t care what the news is we first want to avoid it. After that, we want to watch how the market reacts.
Today’s bottoming tail hit some bears hard but this is all reactionary. Tomorrow after the night to go over all the data I think this is where we are going to get the real move…. and finally….. hopefully… some action.

PREMARKET update

Nothing notable pre market. Top statements all remain.