Markets pullback to start the day, even more so than yesterday, so it is looking like it will be a down day. Over the course of a normal week, the major markets ALWAYS have at least 1 down day, potentially more, so if you see strong signs of a downtrend and there has not been a down day yet in the week then that may be the day. Look for stocks to trade today that have relative strength (going up/consolidating sideways while market is going down).

Bitcoin and crypto chopping around in a consolidation to hold onto the gains it has made over the past couple weeks (market strength?), despite the China crackdowns that initially led to a ton of FUD earlier in the year.

It took quite a bit of patience to see the markets into the green today after gapping down and sliding to start the first 1-2 hours of the day. However once we reversed direction around 10-10:30 market time we never looked back. So markets do not seem to be too phased by anything going on in China, Afghanistan, with Delta, etc. Great news there.

Losing trade today was RKT unfortunately, however DLR worked out for about 1.5R which was enough to end the day in the green. Generally, you will see a surge in volume the last 5-10 minutes of each day that goes with the current trend so keep that in mind if you are holding onto a trade but looking to sell at the end of day.

Bitcoin chopping around and sliding a little bit, along with the rest of the crypto market, however as long as we do not go below 45.5k with a significant move we should be ok to continue consolidating before moving up a little more.

Market start the day gapping down after a nice week last week, which ended at record highs for the SPY and DOW. So it is only normal we are due for a little bit of a pullback.

On days like today, you want to be looking for stocks that have relative strength to the market. What that means is that a stock is either moving up or consolidating near its daily high, while the market is moving down. These stocks tend to rip once the market turns around, so make sure to be scanning so you can find opportunities! Unless you are a short trader.. Today may be a good day for you.

Bitcoin and crypto markets starting to consolidate a little bit after a strong run up. If we keep consolidating and don't drop below 44-45k (for bitcoin), we could see some continued upward momentum to around 50k.

All 3 markets close higher, with the SPY and DOW posting new record highs. Look for a pullback tomorrow as investors typically sell on Friday and we have seen quite a few days of gains this week.

SAVA worked out for a winning trade today on a nice breakout play at around 10:35 (breakout = consolidation in price near high of the day, buy when it breaks above the consolidation), however FLGT unfortunately went against us despite a ton of potential room to move up.

Bitcoin slid until around noon but has since recovered nicely to sit back around 44.4k. Again, as long as it does not pullback below 43k we should be in good shape still for Bitcoin and the crypto market.

Markets gap up just a bit but quickly start a pullback to begin the day. Biggest news of the day is the PPI (Producer Price Index) coming in higher than expected, basically signaling that it got more expensive last month for manufacturers/business to produce goods. This of course contrasts yesterday's CPI (Consumer Price Index) coming in better than expected. So we have one measure investors believe is leading to inflation, and one measure showing the opposite. This is why as traders we do not put too much weight into reports because it is impossible to know true market sentiment from them, we MUST look at the charts to determine market sentiment..

Bitcoin pulling back a bit as expected, we hopefully will not see it go below 43k, 42 at the very very most.

Some trades being watched today (not a ton out there yet though) are COLD, WSM, and AAPL.

We called it this morning, the SPY and the DOW both closed higher (SPY with a slightly less impressive gain but a gain nonetheless). Likely due to inflation data coming back better than expected and the infrastructure bill plugging its way to passage.

Bitcoin looking real nice sitting around 46.5k, we could see another pullback to around 42-43k range before it continues going higher. This is about as much of a pullback as we would want to see to assume we are going to continue moving up.

Quick tip, look for a double bottom retest as a great trading pattern to take. This involves a stock moving up and setting a high, coming back down (retracing) to about 30-50%, moving up to at or below the high, then coming back down to that same spot in the retracement. When it hits that bottom price for the second time is when you buy in, set your stop loss below where it has re tested twice and watch it rip.

Trades today, C did not work out (not the best pattern), however BSX did workout nicely for a good 2R gain.

Markets gap up nicely to start the day, largely due to the CPI (Consumer Price Index), an important measure of inflation levels, rising less than expected. Look for some new record highs in the DOW and the SPY when you pair that with the huge infrastructure bill working its way to completion.

Not a ton of good looking gaps to start the day just yet, need to be scanning for some patterns to develop here and then jump into trades.

Bitcoin looking really solid now sitting at 46.5k, still has room to move all the way up to 50k over the next few days/weeks. Look to make some long plays in the crypto market if that is what you are trading. When bitcoin does very well the rest of the crypto market follows suit.

Despite the Dow and the Spy ending at record highs, we saw a pretty tame day today aside from a little late morning choppiness.

ACI and DDD worked out today for day trades, MOS unfortunately was held past the closing bell on accident... Something I would NOT recommend doing as there is no way of knowing for certain what a stock is going to do at the open on the following day. Ended the day at support though so hoping for a bounce to start the day.

Bitcoin still holding steady around 45.5k, if it start another uptrend this one could get us all the way up to 50k which would be fantastic.

Markets open pretty flat to start the day, no real news or events coming around today that could shake things up and provide a definitive move one way or the other.

Not a ton of opportunities out there just yet anyways, looking at COIN to maybe bounce after a big pullback to start the day, DDD looking like it has a nice gap up as well.

Bitcoin still holding strong right around 45.5k, solidifying the gains made over the past few days. Next significant point of resistance is right around 50k so if there is a nice catalyst we could see another good move up for bitcoin and the rest of the crypto markets.

After 2/3 of the market indexes ended the week at record highs, we seem to be starting the week off with a little bit of a pullback. This is normal, how much we pullback though will determine which way we likely head for the day/week.

Bitcoin having a nice rally, and as we mentioned with a meaningful move above 40k we could see it move to about 45k, and right now it is sitting at 45.5k but still on the move for sure. Today is a good day to watch the crypto space for some place if you trade crypto.

Some stocks being watched today are BRK.B, COIN and TSN, of course they may not workout so we will always be scanning the markets looking for new opportunities and patterns to present themselves. When a good pattern presents itself, take the trade without hesitation!