New quarter in play and the shot clock resets starting with ISM data today which came in and moved the indices a bit and with bonds down, dollar and gold up and the rest of the market on a delayed sell-off.
U.S ISM MANUFACTURING PMI (MAR) ACTUAL: 50.3 VS 47.8 PREVIOUS; EST 48.3
The QQQs balanced near a key support area today and buyside needs to maintain that or it opens up selling this week lower. JOLTS data is at 10am EST tomorrow and we have Fed speakers lined up, so we’ll see how that shifts the market.
COIN was an intraday short for me off the open. That stock is as clean as it gets to trade order-flow/technical with given it tracks Bitcoin almost perfectly. I’ve been trading that a bit this year and as long as we keep the volatility on these highs with Bitcoin that becomes a pretty simple plug and play theme. I discuss this tonight in the premium post a bit - the idea of long/short idea generation and what that actually means.
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