Powerful move for the last two days to say the least, it was pretty wild, on Thursday, market tried breaking down below the 200 SMA to only rip back up capturing it and closing shy from green.. on Friday (May 4th, 2018) today in chat room we saw $SPY tried breaking the 200SMA, only to bounce back up and close the day over 1.20% with all major Indecies well in the green.
#Bitcoin is over 10K is it correlated to the stock market? maybe not but it did move pretty much up on heavy volume..
Dow closes up more than 300 points after Apple sparks tech rally
What did we do today?
We pulled our powder and triggered some long plays in the market, taking positions in $SPY, $QQQ, $TSLA and $BABA on the long side.. Those Tickers were traded on different strikes.. also some traders took $NFLX and $AMZN on the long side..
and here is how the $SPY Ended the day – we are not out of the woods yet we are still in a wedge that is about to release some energy, check with us next week on how to play the next move, hitting 50MA, and hence a pullback is likely to happen.
Some Other Market highlights
- Exclusive: Redstone makes concessions on Viacom CEO to clinch CBS… (REUTERS.COM)
- Dan Healing on Twitter (TWITTER.COM)
- Dow rallies 350 points as Apple leads tech higher (CNBC.COM)
- Buffett Buys a Further 75 Million Apple Shares, Sells Out of IBM (BLOOMBERG.COM)
- MannKind Sees Meaningful Spike In Insurance Coverage (SEEKINGALPHA.COM)
- Trade The News: Real time stock, forex, bond news analysis squawk (TRADETHENEWS.COM)
- 60 Minutes on Twitter (TWITTER.COM)
- Jefferies – pre Conf Call note – CELG Q1 results were solid – and a we (INVESTORVILLAGE.COM)
- Consumer – Top Gainers / Losers as of 12:00 PM (05/04/2018) (SEEKINGALPHA.COM)
- As Trump’s tariffs bite, small U.S. manufacturers begin to tap the… (REUTERS.COM)
- Warren Buffett says Berkshire Hathaway has sold completely out of IBM (CNBC.COM)
- Warren Buffett’s Berkshire Hathaway will make about $700 million annually on Apple’s dividend alone
- Elon Musk defends his strange conference-call performance, promises ‘short burn of the century’
- Solid jobs report is just enough for traders to retake the market narrative
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