What You Need to Know

Hey…it’s Jay Simon, and here’s what you need to know about the markets today.

It’s Monday and we have no big economic events on the calendar for today.

BUT…a busy week lies ahead that will certainly move the markets. In broader ecomomic news we have FOMC meetings starting on Tuesday, and the non-farm payroll on Friday, which always has an impact on the markets.

For the NASDAQ this week features key earnings reports from MSFT, AAPL, AMZN and META. Those earnings will absolutely have an impact on the tech market this week so keep that in mind!

Trade of the Day: 2 Ways

My top watch premarket is QQQ. All lower timeframes are bullish premarket, but we are clearly still bearish on the hourly and daily.

Price dipped to a prior area of support on Friday and that support held. I never try to forecast what will happen, but traders could be cautious in trading today with economic events ahead and important earnings reports coming this week.

For Calls:

To buy Calls we will want to see price hold above VWAP after market open, and for any kind of sustained move we will need to see price push over 468.00.

For Puts:

To buy Puts we will want to see price move and stay below VWAP, and then push through the support levels marked on my chart.

Profit Pointers

Every email I try to impart one market insight that will help you develop into a better trader. Here is today’s golden nugget…

Don’t be a bull, don’t be a bear…be a HYENA!

There is a reason I named my company Hyena Trading.

One of the tactics used by Hyenas is to wait for a larger predator to make a kill, and then to go steal that kill.

This is how you need to think about trading. Wait for a kill to be made (market direction determined by the big players), then jump in and “steal” some for yourself.

You can’t move the market. You can’t pray the market to go your way. You can however learn to read the market.

Wait for the trend to be clear, buy on pullbacks. That strategy will put the odds in your favor and I promise you will eat most days.