Trading Plan: 11 April 2022

Lauritzen
2022-04-11

Nasdaq (-1.34%) lost its SMA50 and went lower possible on the news regarding the inflation, war and the May QE stop. There is no major support near the now price level, so we might see a downtrend continuation.

SP-500 (-0.27%) lost its SMA200, but stayed above the EMA21. The topping tail might suggest the price going lower. Watching its SMA50 level. There is no support nearby. There is a possibility to see the price testing the February / March lows.

In the news

Elon Musk decides not to join Twitter board, says CEO Parag Agrawal.

Crypto giant Binance deepens Middle East expansion with Abu Dhabi approval.

Cathie Wood says banks have a ‘big problem’ thanks to crypto.

Tesla, Block and Blockstream team up to mine bitcoin off solar power in Texas.

Tech Stocks Poised to Slip as Bond Yields Climb.

Sectors

  • Best yesterday sector: Energy, then Financial. Worst sector: Technology.
  • Best weekly sector: Healthcare, then Consumer Defensive. Worst sector: Technology.
  • Best monthly sector: Healthcare, then Consumer Defensive Worst sector: Industrials.

Sentiment

  • NAAIM (weekly, neutral between 70 and 90): 83.41
  • VIX (neutral under 20): 21.16
  • Equity Put / Call Ratio (neutral between 0.7 and 1): 0.95
  • CNN Fear & Greed: 48 (Neutral)

Breadth

  • Stocks above SMA40 (neutral between 30 and 80): 47.50%
  • Stocks above SMA200 (neutral above 30): 34.39%
  • Number of stocks that increased yesterday by more than 4%: 114
  • Number of stocks that decreased yesterday by more than 4%: 218
  • McClellan Oscillator (neutral between -100 and 100): -46.41

Earnings Reports

No noteworthy earnings reports for today.

What to trade today

The market seems it wants to go lower, I will watch some possible shorts.

Etsy ($ETSY) might be shorted if the price keeps on going lower under the February low. Stop Loss: 5%.

Inmode ($INMD) testing support again. Short under the black line. Stop Loss at Friday’s high.

Asana ($ASAN) also tests its February low. Good to short if the price goes under this level. Stop Loss: 5%.

Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.

Macro Trend
Monetary policy, various types of price indices... Here is everything about the macro economy!
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Comments

  • Maria_yy
    2022-04-12
    Maria_yy
    I don't think the market will do too well this week.
  • moonzo
    2022-04-11
    moonzo
    I like Musk very much and I will hold Tesla stock.
  • HilaryWilde
    2022-04-12
    HilaryWilde
    Thank you for sharing your trading plan.
  • blinky
    2022-04-11
    blinky
    At this stage, I think it's better not to proceed with the operation because it's unstable.
  • cozyzi
    2022-04-11
    cozyzi
    For such a market, I don't want to buy any more stocks.
  • Maky
    2022-04-13
    Maky
    Seems like nowadays better to wait for clearer overall market signal than to do anything
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