jon

New indicator #1: "Colored Stacked EMA Ribbon" (available soon from @tradingview) This is my interpretation of @johnfcarter's interview w/ @RichardMoglen in which he talked about "Stacked EMAs". Super brief summary: If the EMAs are bullishly "stacked", the cloud will be green.

OK, that's it for me. Homework mostly done. We're too far away from a long signal for it to matter now, but potentially just a few days away from shorts. So, that's what I'll be checking on daily (usually in the morning after open). IF no short signal, then I'll stick with yard work + fishing. HAGW, all! 🍻

In ETF land, you see more of the same. H/C leading, energy 2nd. Not much leadership. Overall, risk off theme. Again, if I was forced to trade, H/C + energy is where I'd focus. More tickers are ending up on the bear side of the ledger.

If you cut the liquidity requirement, you can pull in some more names. H/C still heavily favored. Some tech stocks + some crypto related names are taking a beating. $BRZE is getting b/o from $CRM, so ignore that 1.

In megacap land, the weak stocks outnumber the strong stocks. There's a few bright spots (like $LLY - but it's extended now). Overall, H/C is the strongest sector with energy a close 2nd. If I had to trade long right now, that's where I'd focus. The short side is looking more compelling by the day. The only thing that I'm missing is the Q's LT trend to confirm - hopefully that slides into place soon.

OK, time for some homework to get ready for next wk. Q's continue to show weakness which means no longs for me. ST Trend is already quite bearish. LT trend is following.

OK, that's it. Main focus right now is on yard work + fishing. Once Q's LT + ST trends turn up again, it will be go time. When the market is not favorable, it's easier just to take a step back and not fight it every day - preserves capital ($$$ + mental). HAGW, all! 🍻

In ETF land, it's energy + h/c + staples (risk off/defense). Some S/W (including $CIBR). $EWZ is election + oil related.

If you cut back on the liquidity requirement, you pick up some more names. Here, it's less staples - more tech names (including cybersecurity). Some bios. If I wasn't gated by the Q's trend, this is where I would focus.

In megacap land, it's a clear risk-off (defensive) posture. The problem is that most of the names (like staples) don't make the cut (ADR%) unless you lower your standards and chase stuff that by definition doesn't move much. So, that leaves ~6 names that make the cut. In a stronger tape, I'd have 50+ names to choose from - all with high ADR. (This ain't it).

OK, time for some homework. This won't take much time as the market has been weak lately. Q's still in neutral/hostile terrority:

OK, that's it for me. Not much to do since Q's trend changed Tues - aside from yard work and fall fishing! HAGW, all! 🍻

If you drop down on liquidity requirements, you can pull in more names.

Even slimmer pickins' in megacap land. In a stronger tape, I'd have 50+ names to choose from all with high ADR%. This ain't it. I did trade $SHOP on Monday - that worked out well, but nothing else looked good to me. $MPC + $VLO refiners still strong - maybe boosted by escalation in the mideast. $MRNA still running off EP.

OK, time for some homework. This won't take long since the Q's trend changed on Tues. Q's trend:

OK, that's it for me. Homework mostly done. Watch lists for next wk: Mega (copy & paste): HPE, SHOP, PLTR, NU, PANW, LITE, MPC, VLO, CRWD, NET, MRNA, DELL, MRVL Liquid (copy & paste): XP, TENB, CORT, ZS, AFRM, QLYS, IBRX, S, FROG, FSLY, PBF, KOD, DDOG, OKTA, IOT, IOVA, DINO, RBRK, U, OSCR, RNG, ZETA, GRAL, TEAM, SEI, W, NTRA, CTVA, FORM, SMTC ETFs (copy & paste): CIBR, EWZ, IGV, SPY, IVW, UUP, QQQ, XLK, XLE, DXJ, CRAK, XLV, CPER, XOP HAGW, all! 🍻

In ETF land, it's still pretty narrow. We've got tech/growth (esp. $CIBR) US$ still strong - helping $DXJ, too. Energy hanging in there, but that's getting to be late in the game - you can see how energy ETFs are dropping in the rankings (relative weakness). $XLV names - I think boosted by $HUM news. $EWZ joined the party this wk (news) - that's good to see. I used to like trading Brazilian names, so maybe I'll get a chance to do that again.

If you cut the liquidity requirement, you can pull in more names. I traded a few from this side this wk. Overall, I prefer the mega liquid names as they are easier to trade. But these smaller names can most faster (which is both good + bad). Last week for me it was $TWST (good), $ZS (good), + $TENB (good). I had the right idea w/ $PBF, but stopped out on spike lower (bad). It's the same trade idea as $MPC - but $MPC didn't have the spike lower - so my stop survived and became my most profitable position of the week. All b/c it survived a stop run (which is kind of funny to me).

Still slim pickings in megacap land, but it's enough. In a stronger tape, I'd have my pick of 50+ names w/ high ADR%...but it's OK. Tech (esp. cybersecurity), refiners (still, but getting late in the game there), bios ($MRNA), Brazil ($NU).