Let’s take a look at the bigger picture and lay out the potential roadmap for Tuesday. One thing to keep in mind is earnings season.
There are big names set to report earnings over the next few weeks, including TSLA, AAPL, MSFT, and NVDA. The big question with earnings is whether they have a positive or negative impact on the weekly squeezes on the S&P 500 (/ES) and Nasdaq (QQQ).
Stay Focused,
Taylor Horton
Large tech names, such as Tesla (TSLA) and Netflix (NFLX), are reporting earnings next week. The Big 3 Squeeze shows weekly squeezes settings up names reporting earnings and the S&P 500 (SPX). If the structure of the SPX can stay intact next week, earnings could cause the squeeze to fire in either direction.
Let’s review the top squeeze for next week:
Stay Focused,
Taylor Horton
The S&P 500 (SPX) is trading near the 21 exponential moving average (EMA). This could be a major line of resistance or this could be the spot where SPX pushes toward $4,400. If the Nasdaq (QQQ) can push through the daily 50 SMA around $368, there could be more room to run.
In the video below, I review one of my favorite bullish trade setups that we opened in the Compounding Growth Mastery – valid as long as the SPX and QQQ continue to the upside. I also walk through some potential short setups…
Stay Focused,
Taylor Horton
In the last few weeks, the market hasn’t provided signs of an uptrend on the 15-minute chart and has failed most of its backtests. This week the market finally broke above Thursday’s high on Friday. The key to next week is if the overall market structure can hold and find support to possibly head higher.
Let’s review next week’s possible outcomes in today’s video:
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Stay Focused,
Taylor Horton
The market’s overall structure is still bearish, with no signs of a short squeeze firing. The Big 3 Squeeze also shows bearish signals on the daily, 4-hour, and 30-minute charts. If the S&P 500 (SPX) can’t hold support at the 21 exponential moving average (EMA), SPX could head lower towards $4,200. For now, I will keep shorting any small rallies until the market shows signs of positive momentum.
Check out key levels I’m watching on SPX in today’s video:
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Stay Focused,
Taylor Horton
As we approach October, there are a lot of squeezes printing on the 3-day, 2-day, and daily charts. There is a good chance that by January, these larger time frame squeezes will have fired to the upside or downside. Now, it is our job as traders to call for direction and timing.
Let’s break down the current market conditions on the SPX, QQQ, AMZN, and other big names…
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Stay Focused,
Taylor Horton
Earlier in this week’s newsletter, I reviewed the daily squeeze with a sell signal on the S&P 500 (SPX). As I mentioned, the squeeze fired short this week and hit our downside target. The daily chart is still showing a daily sell signal. However, the weekly chart is finally showing neutral signals. If the market can’t maintain price action above the 21 exponential moving average (EMA) then the market could head even lower.
I want to short the rallies until the daily sell signal cancels out on SPX. Check out the levels I’m watching in today’s video:
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Stay Focused,
Taylor Horton
There is a new daily squeeze setting up in the SPX Futures (/ES). At the moment, the daily Big 3 Sell signal is poised to see that squeeze fire short, based on trend, structure, and momentum. This could trigger a move down toward $4,400. Another issue continues to be the strength in the Dollar (DXY). Watch the video below where I review /ES, DXY, and AAPL for an overall review of the current market conditions.
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Stay Focused,
Taylor Horton
The market hasn’t shown signs of a clear trend and has transitioned to chop. The Big 3 Squeeze scoreboard favors the Bears, and signals point toward the downside. With Wednesday’s Federal Open Market Committee (FOMC) meeting, I’m focused on lower timeframe squeezes.
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Stay Focused!
Taylor Horton
Tesla is showing a positive cross in momentum and a brand-new daily buy signal. The Big 3 Squeeze scoreboard favors the Bulls, and this is my favorite setup this week. My target is a continuation towards $280 if Tesla prints a buy signal on a 15-minute squeeze. Meta is also shaping up for this week in a nested squeeze setup.
In today’s video, I review three main squeeze setups and two other ones I have my eyes on.
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Stay Focused!
Taylor Horton