MY COMMITMENT:
Go with the flow – Trade into CAPITULATIONS.
Some bigger news items later in the week. Housing, GDP and cost of goods. Econ health.
NQ – CHURN
ES – GRIND
YM – GRIND
SEMIS – WHIPPY – Trend Breakdown
XLY – XLI – XLF – XLB
Cleanest trends outside of tech.
Tech likely trades human. Position steeling, stop running, FOMO Fumbles.
The Massive Grind Up is likely over and we should see better rotations short term with NVDA ER behind us.
Late longs are likely the most vulnerable. Early shorts however still working themselves out of the system.
ETF’s say Econ is strong.
Option scan showing more results. Less focused on NVDA.
MSFT – AAPL – NVDA – AMZN – META – TSLA – AMD – SBUX
March put VOL coming off substantially last week. Still up for later months. Could mean we do more grinding down vs flushes… hard to say.