It's early. Mark this day down as the day that financials began their move higher----much much higher. Please bookmark posting.
Who has the best traders ? JP Morgan or Goldman Sachs ? We'll soon find out. From the JP Morgan report:
Well considering XLF is the same price it was in 2008 and also 2016, one would think it should be up from here. A 20% move higher will put it over $28. How long are you willing to wait for that? What's an individual name?
Do you think this is some kind of tell, say maybe frothiness up here - or for example maybe just some rotation out of hot mega cap tech into financials / industrials / etc.?
Moderna says phase 3 virus vaccine trial to begin on July 27, 2020. Must be a downtick out there somewhere.
Traders need structure in their day... one should always have a defined goal for the day... a defined goal to strive for & once it is hit.. thats it for the day... go out on a high note & bring that Momentum into next session... for me it`s a monetary goal.... The goal should be attainable & reasonable yet something that you need to strive for....
This is due to the ES component weightings. Not a divergence. More of a tell of broader market weakness imo. I'm pretty sure each of the 100 NQ stocks and the 30 YM stocks are part of ES... there are 370 other stocks in ES too.
...I have my primary goal for the day met so can respond A momentum bar works for me because I have a "scalp and slide" trade management strategy. At least that is the way I think of it. I am a swing trader on the scale of a day trader. But I take a small scalp with the majority of my position first, and let the rest run. The scalp is a small enough target to have a high win rate off a momentum bar. The scalps are like base hits. This is really all I need for the day. When a 'slider' comes in... a home run? I like those also! This is a personality thing. The scalp high win rate feels good and may be a security thing... it is extra work, but satisfies. And on slow days, the small scalps, with size, can get you to your daily profit target and you can be done and have TIME for going out and living a life. ............ Love this quote... "will keep pushing against my rules..."