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Getting on the short side of this market has been a good decision thus far. Our 4100 call credit spread we opened in the Compounding Growth Mastery last week is rockin’ and rollin’!

The bulls have given back most of their progress. The SPX is below the 21 exponential moving average (EMA), below the 50 simple moving average (SMA), and printing a new daily Big 3 sell signal.

In the video above, we’ll lay out the key levels that are lines in the sand for the bulls to have a chance to bounce again. We’ll also review the Dollar (DXY) and the junk bonds (HYG) to build on our thesis.

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Note: The market is closed on Monday, February 20th for President’s Day.

One of the problems for the market is the DXY.  We use the Dollar as a correlation for the equities market. If the DXY can’t get under the daily 21 exponential moving average (EMA), we’ll continue to see the selling pressure on the S&P 500.

The HYG is another problem, as it’s lost strength and started breaking down. This is bearish for the equities, and we’ll need to see HYG get back above the moving averages to push for a rally.

Until these problems change, take caution when going long.

In the video above, we’ll cover the charts and get ready for the week ahead. We’ll also review the new call credit spread we opened on the SPX in the Compounding Growth Mastery.

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The good news for the bulls is the new daily buy signals on the Big 3 indicator. For the first time in over a year, the SPX, QQQ, XLK, SMH, and other names have the Big 3 indicator turning bullish. This ultimately means that the trend has shifted in favor of the bulls.

The bad, though, is slightly outweighing the good. The S&P 500 is bullish, with a squeeze on the daily chart and trading near the 21 exponential moving average (EMA). The problem is the lower time frames, shown on the Big 3 Heat Map, are printing Big 3 sell signals. The S&P 500 won’t get that explosive rally to the upside if the lower charts are bearish.

In the video above, we’ll review the DXY and HYG and what the current market conditions mean heading into the shortened week ahead.

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It’s a battle between daily charts and lower timeframes.

The daily charts have been leaning towards wanting to buy the dip for now. The semiconductor sector, names like NVDA and AMD for example, are printing their first daily Big 3 Buy signal in over a year.

There are a lot of names poised here for a push higher. As they’re pulling back to the buy zone, be patient, but be ready for things to turn the corner.

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In this week’s Friday recap video, we’ll break down the week’s progress. Many names, along with the overall market, are pulling back to the buy zone near the daily 21 exponential moving average (EMA).

We’re looking to buy the dip using the Big 3 buy signals. In the video above, we’ll break down why we want to buy the dip and which names are looking poised for a solid move higher.

In today’s video, we’re providing a sneak peek into Chandler’s Premium Day Trading Room Video, where he reviews the last two weeks of price action and how that builds into his bigger picture market thesis.

To watch the full video, join the Simpler Day Trading room.

On the weekly chart, the S&P 500 (/ES) got through its bearish structure and hit resistance above. With the market changing direction, we need to learn when to buy the dips and when to go short.

Looking at the bigger picture helps form a better intraday thesis. The bigger picture shows major levels you may miss on an intraday time frame. This helps to enter trades at bigger inflection points.

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Is the bull market back?

At the moment, things are fully aligned for more upside opportunity. $4,100 is our key level to watch on SPX as it is previous resistance.

If things do unfold to the upside, there are names on our focused list that are setting up. We’ll use the Big 3 Heat Map to analyze the setups on ROKU, ZM, and TSLA across multiple time frames.

While I can’t share the proprietary Big 3 Heat Map, I created a free “Moving Average Heat Map” for our subscribers that might not have the Big 3 indicator.

Here’s a flexible grid for the MA heat map: http://tos.mx/NDnDM3X 

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It was an eventful week with the Federal Reserve rate increase announcement, big tech earnings, and non-farm payrolls.

The market is better aligned for the bulls than it has been for over a year and half now. In the video above, we’ll analyze the S&P 500 (SPX) from the monthly chart down to the 1-hour chart.

We’ll also review trades taken this week in Options Gold, the Compounding Growth Mastery, and individual trades I took. The key is to focus on the types of setups that over the course of many trades can leave with winning results.

In the Sunday video, we’ll break down the names on our focused list in more detail. Until then, have a good weekend, spend some time with friends and family, and give your pets some love.

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Tech earnings are wrapping up this week, with Amazon (AMZN), Apple (AAPL), and Alphabet (GOOGL) reporting after the bell on Thursday afternoon. On Friday, the Nonfarm payroll will be released at 8:30 a.m. Eastern.

The S&P 500 (/ES) broke significant upside levels on Thursday after Federal Reserve Chairman Jerome Powell’s speech on Wednesday afternoon. Powell stated the Federal Reserve will raise rates by a quarter point.

/ES closed above its major weekly trendline from last year. Let’s see if /ES breaks higher and continues up or if earnings bring the market lower.

Check out the video above for a breakdown of my critical levels on /ES as it continues higher. I also review levels on /NQ ahead of tech earnings.

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