TMAD Weekly: Friday’s Selloff Breakdown + VIX Spike Analysis
$NBIS $BB $VIX and other Great Looking Setups
Hi everyone,
Following Friday’s sharp selloff, we broke down the key drivers in our Friday intraday update. Often, the specific trigger is less important. When the market is due for a pullback, some news or data point usually comes along to spark the selling.
We closed our CSCO position on Thursday after it reached our 130 target. We also trailed most stops with the comment in trade log that NFP was scheduled for Friday. Better to be safe than sorry. I’ll discuss stop trailing in more detail during today’s webinar.
As we’ve been posting since last Sunday, the market had been looking fragile, and we expected a pullback in June (especially heading into the SpaceX IPO and FOMC). That’s why we hedged. Our put spreads are currently up nearly 50%. We’ll also cover how to manage and close these positions during today’s webinar.
Webinar today is at 6:00 PM ET.
Can’t make it live? The recording will be posted on our Youtube Channel channel tomorrow. Please follow it to stay up to date with our latest analysis and educational content.
Today, we’re taking a deeper look at GEX levels across the major indexes, key support and resistance zones, and what it historically means when the VIX spikes over 39% in a single day.
We’ll also cover Bitcoin’s current setup and share our top trade ideas for the week ahead.
