Quote of The Day "Success is going from failure to failure without loss of enthusiasm."
--Winston Churchill |
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How To Use TAOST Daily Wrap [Video] I should have added done and added this a long time... Oh well... sue me. |
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Share... Friends don't let friends trade without TAOST
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Index, ETF and Select Single Stock Performance |
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A Few Headlines Of The Day - The Twitter Gangster in Chief stormed out of a major infrastructure meeting with Dems declaring there will be no deal until Dems end their investigations of him... Talk about country first...
- FOMC minutes were out today... Fed expects interest rates to remain steady "for some time." The Dallas Fed Prez said he is agnostic as to whether next rate move is up or down...
- Bank of America [BAC] offering mortgages without origination fees for a limited time... Guess what discounts (and this is a discount) normally mean?
- Gold [GLD] settled higher... suggests more stock softness ahead... but could also be related to Britain's Brexit mess
- Tesla [TSLA] -- stock was in play today... or actually the opposite of in play. Down 6%, Morgan Stanley analyst Adam Jonas long seen as a perma bull on the stock painted a bleak picture of the company's future... Some analysts paint a TSLA demise as the harbinger of things to come for so called MDT [Modern Disruptive Tech] companies and their stocks.
- Under heightened tensions, Iran claims "under no circumstances" does it want to go to war with US
- Bitcoin is all the rage again... A new all time high in Bitcoin futures today... fragile stock market... and renewed love for the digital currency have folks looking for new highs. I can't buy Bitcoin here... check out why below...
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TAOST ES Power Zones & POIs Today |
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| 15m Chart -- As you can see we once again had limited range. The battle was essentially between TAOST Intraday Balance & Low Power Zones... |
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| 120m Chart -- Price continues to meander... waiting for a reason to either drop or pop. |
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| Daily Chart - On balance, I think the market is in a distribution phase and needs a pretty big push to get going to the upside again. We could see it, but the longer it takes, the less likely it is. |
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Basic Index ETF Performance SPY again today... Price tried to put in an Abandoned Baby pattern, but the buyers would have none of it. This market still feels a bit heavy to me on balance. |
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Bitcoin Weekly Chart I've been asked about Bitcoin a lot more recently. Personally, I would have no interest in the currency below TAOST Magnet Zone... However, if you own it from lower (and it was always intended to be a long term hold) there's no reason to part with it. In other words, buy it here? No... Hold it? Yes. |
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Tesla TSLA File this under #HadTo... Tesla looks to be driving down a desolate highway... with nary an charge station in sight. May be coming up on good support around $160 and everyone seems to hate the stock now [usually a pretty good time to buy], but I'd rather sell rallies than buy dips here. |
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TAOST Stalk Stock Sunrun, Inc. [RUN] I've no idea what this company does, and as usual, I don't much care. It's put in a High Handled Cup w/Handle pattern. It's a small cap... and it has plenty of liquidity... That's enough for me. |
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As always, make up your own mind and, more important, minimize your risk no matter what you do.
KIS,
The Trader
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P.S. Was this email forwarded to you? Get your own free ticket to the $ party here.
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