We saw a nice pop in the morning and then a hard fade pretty much right after the market opened. Feels like a repeat of last year.
The market did try to hang on to the $SPX 3,800 level most of the day. It’s all about this level right now; a true break below and we can see 3,780.
We need back above 3,840 for a rally higher.
Here are today’s trades:
- I shorted $CLX on Dec. 20 and Dec. 23 at 142.19 and 143.7 and covered on Dec. 30 at 141.60.
- I bought $BABA at 92.20 and sold at 93.
- I shorted $AMZN at 84.62 and covered at 84.35.
- I bought $META at 123.60 and sold at 124.60.
- I shorted $SQ at 63.64 and covered at 63.29.
I booked multiple losers today:
- I shorted $AMZN at 84.60 and covered at 84.98.
- I bought $ADBE at 345.50 and sold at 340.
- I shorted $GOOGL at 88.80 and covered at 89.45.
- I bought $SPY at 381.67 and sold half at 382.19 and the rest at 380; I was stopped out.
I have open long positions in $IWM, $ARKK, $SHOP, and $MU. I have open short positions in $NKE and $TGT.
My trading was sloppy today with way too many trades.
All Star Charts Team