In today’s OVTLYR Trading Room session, we kick things off with the latest drama around Tesla. The stock has been facing significant issues lately, adding extra volatility to the market and influencing overall sentiment.

Moving on to the market analysis, we break down the current state of SPY and QQQ ETFs using the Golden Ticket Trading Strategy. SPY shows some mixed signals with the 10-day moving average above the 20-day, but the price is below the 50-day. This bearish setup led to a recent exit from positions, which helped avoid losses in a volatile market.

We also examine the QQQ, where sell signals from June 21st and June 26th led to a 3.5% drop. This was a timely move that helped sidestep a significant downturn.

Market breadth is another key point, with extreme levels indicating potential reversals. This analysis has informed a cautious approach to recent trades.

Overall, with the market trending down, it’s wise to hold off on new trades until clearer signals emerge. Keep an eye out for potential opportunities if the bearish trend continues.

Catch up on the latest updates and insights with this session!

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