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Large wedge on the day. Measured moved from apex would be down to 4048. Took another trade short again from 4068, with SL locked in at 4066 at the moment. EDIT: out at 4058.
Can you help answer these questions from other members on NexusFi?
Emerson posted the list, but I watch those stocks along with the QQQ and SPY. A lot of time the ETFs can lead or lag and give you signals if a move has more room to run or reverse.
I watch the stocks because their news, earnings, or other items can affect the overall index. I believe you should know your product inside and out. Our product is a basket of Nas stocks. If you trade CL you should have a good understanding of how crude is produced and sold, how manufactures and customers control supply and demand, etc.
Yesterdays push up, was on stong momo. With that degree of ascent the re-tracement was logical. 60 zone holding support. Followed by a mild two wave correction not sharp as the previous re-tracement. It appears we have momentum shift in play.This supported the non farm payrolls move. Something we have going for us on the short side is the lower high circled in red also we have slightly lower lows.
For the NQ and the ETFs it is mainly technicals for me. On the individual stocks I will look at technicals and fundamentals.
I like to watch the high flying or heavy weighted stocks because if the index is in one direction and AAPL starts making new h/l it can pull the index in that direction. Sometimes you can get a heads up. Or on the other side if you are in a trade and AAPL starts reversing it could lead to a reversal in the index.