Professor’s Comments Update 2/18/2021

Posted by OMS  at February 18th, 2021

Students who took my Scalp Trading Class and watched my follow-on training video with the Matrix should watch what happens between the SPY and DIA and the QQQ today. That’s because all three indexes have now come out of the Trend Zone, but only the Q’s have negative volume…at least so far.

This tells me that the large tech stocks on the NASDAQ-100 will likely lead the overall market lower.

At this point, the Q’s have broken below the lower support numbers I mentioned this morning, but the DIA and SPY are still holding above those numbers. So with the NASDAQ now making lower lows, IF the DIA and SPY join the Q’s in making lower lows later today, tomorrow could be an ugly day. A break below the support lows would likely mean that wave 3 down is finally underway.

h

Not sure of the terminology we use? Check out these articles

The Hockey Stick Pattern
The Creation of Waves and Trends
FAQ

All of the commentary expressed in this site and any attachments are opinions of the author, subject to change, and provided for educational purposes only. Nothing in this commentary or any attachments should be considered as trading advice. Trading any financial instrument is RISKY and may result in loss of capital including loss of principal. Past performance is not indicative of future results. Always understand the RISK before you trade.