June 18th premarket prep

Crypto Markets

So far this BTC short is working out. Backing off of 40k and the 200 day nicely. The next level of importance is the 30k ish level we bounced off twice now. Triple bottoms are rare so I will not be covering there unless we show a big bounce from that level. — So far this BTC short is working out. Backing off of 40k and the 200 day nicely.
The next level of importance is the 30k ish level we bounced off twice now. Triple bottoms are rare so I will not be covering there unless we show a big bounce from that level.

For the first time in a while I can say for sure that as of now both ETH and DOGE look weaker than BTC.

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Equty markets

RSI divergence occurs when the market you are looking at makes higher highs while the RSI makes lower highs. This occurs when momentum is drying up on each push higher. This state can correct its-self and it can persists for a super long time so this is not a top call. These are the things as chartist we need to look out for. The worry I have is our inability to retake this resistance line we have been talking about for ages. Until the trend changes we will continue to our bullish stance. — RSI divergence occurs when the market you are looking at makes higher highs while the RSI makes lower highs. This occurs when momentum is drying up on each push higher. This state can correct its-self and it can persists for a super long time so this is not a top call.
These are the things as chartist we need to look out for. The worry I have is our inability to retake this resistance line we have been talking about for ages. Until the trend changes we will continue to our bullish stance.

No news at all tomorrow makes for a boring day.

XLK is coming back here. Might be that we are not looking more bearish but might just be rotating back into growth names as we thought.

XLK made new highs today as the SPY was flat. This is more evidnce that we should shift to look more in the tech sector for plays. — XLK made new highs today as the SPY was flat. This is more evidence that we should shift to look more in the tech sector for plays.

This the last piece i need to confirm that we are looking to move over to growth stocks from value names. This is great for us as these are the names that can make larger moves in less time.

Communications (Remember that this means more tech stocks now) is bullish as well. watch your socail media stocks if this breaks tomorrow. — Communications (Remember that this means more tech stocks now) is bullish as well. watch your social media stocks if this breaks tomorrow.

Stocks to watch

Less intresting after my analysis but I like this pullback in CROX as a possible low risk entry into a strong trend. — Less interesting after my analysis but I like this pullback in CROX as a possible low risk entry into a strong trend.

EGHT reversed its downtrend and is now putting in a bull flag after a nice doji bottom. Prior support is $30 so watching to see if we can retest that.

Possible “higher low” play in XONE here. Looking for a trendline break.

Same type of look as EGHT on this AYX but this one makes a cup and handle.

Watchlists

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

my Thoughts

So my analysis today brought me to that I am seeing a hard rotation out of value names and into growth. If this continues its great for us short term swing traders. These stocks move faster in both directions but it means we can be a bit more efficient with our capital while trading.

PREMARKET update

Gap down this morning into the “danger zone” of the last 2 bottoming tails.