The S&P 500 (SPX) is in an interesting spot as it continues lower under the 21 exponential moving average (EMA). I’m staying short as long as the SPX stays under the daily 50 simple moving average (SMA) with a sell signal on the daily chart.
In my Compounding Growth Mastery, we continue to trade AMD as the daily squeeze fired short on Monday. AMD continues to move with the market, and if the SPX shows Big 3 Squeeze sell signals on shorter time frames, this will be the perfect opportunity to continue to take AMD even lower with the market.
For the last 4-5 weeks, the bull scans have not been working, so I’m continuing to stay short until the market shows signs of a possible turnaround towards the upside.
Keep up with me on Twitter, where I post constant updates on what the Big 3 Squeeze is showing me and other market analysis. Check out my tweet below on a trade idea on $ORCL:
Daily squeeze printing for over a month, with momentum under 0-line the entire time. Few failed breakout attempts, and then the squeeze turns and breaks short
Keeping an eye on this one. Nice 4h squeeze as well pic.twitter.com/Urz1KCyciW
— Taylor Horton (@taylor_horton24) August 24, 2023