I want to develop this section somewhat along with the tools I use to measure the market. I have been building some simple market breadth indicators and charts. These could be very useful to any trader or investor. h/t to StageAnalysis on Twitter for some inspiration on these. All of these are built in Tradingview.

$QQQ Stocks Above 100 Day, 150 Day & 50 Day

$SPXC Stocks Above 100Day, 150 Day & 50 Day

The above charts are useful warning or buy signals. For the moving averages you want to see at least 30% of stocks move above the main averages before considering a buy and you want to see that trending upward. Same for New High/Lows. As you can see today we have made 618 New Lows while only making 2 New Highs! That is not a market you want to buy!

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Only stock that caught my eye today was $GO. But not looking for any swings while this level of selling is happening. Trimmed all my watchlists with the stocks that have been badly broken the past week.

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Executed a small but good $SPXC futures trade toward the end of the day today. I entered at $3642.00 with a stop at $3635 and a profit target of $3665. I sold after a few minutes at $3670 exactly. Perfect in and out trade. It's really nice when they work like this.

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It's very important in a market like this not to force trades. I've said before that if I try to consistently day trade I get frustrated. When I am working toward swing trading it's interesting I find the one or two hit and run day trades much easier. It's as if there is no pressure and I am far more patient. It is such a different feeling to sitting down at the beginning of the day searching for trades to make.

I hope we begin to level out soon however for now I will remain patient and look to make small moves or none at all. Tomorrow is a large options expiry date volatility and shenanigans will be high!

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Notes & Open Trades:

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Please note I operate my risk with options that I can lose 100% of the premium. This is the safest way to trade them in my opinion. Even if I cut at 50% once I am setup to lose 100% within my risk threshold then I will stay ahead of my required R:R.