I Don’t Trust This Rally a Bit - You Shouldn’t Either

April 26, 2024

I Don’t Trust This Rally a Bit - You Shouldn’t Either

SPY ripped around 53 bucks to the upside before the close… but I don’t feel great about it.

I’d never hate on a good rally, but this ain’t that. That might change next week, but we’ll deal with that when we come to it. 

My unease with this upswing has got nothing to do with MAC/D… nothing to do with Fibos… it’s not Bollinger bands, either. 

It’s the risk assets in play right now.  They are, as I’ll explain in a second, not behaving correctly at all given the intense bounce we’re seeing play out today. 

9:20 AM to 10:30 AM: I’ll be getting us ready for the opening bell
10:30 AM to 11:30 AM: Professor Jeff Bierman shows you… The Way
11:30 AM to 12:30 PM: Gianni Di Poce takes in the whole market
12:30 PM to 1:15 PM: Blake Young talks earnings and a lot more
1:15 PM to 2:00 PM: Brandon Chapman checks top-performing stocks and sectors
2:00 PM to 3:00 PM: Tony Rago finds targets in NQ charts
3:00 PM to 4:00 PM: Corey Rosenbloom will make range and trend plays

New Stock Pick from Gianni Di Poce
Late last week, Gianni dropped another pick for Members - he said he wanted everyone else to have it, too. What a nice guy! His pick is “Buy RCL on a close below $140.56 with a stop-loss on a close below $129.20.” 

I Just Released My Updated Watchlist… And a Lot More
Today at noon I went live in front of hundreds of you to bump my Moonshot watchlist to a whopping 96 stocks. What can I say? My hand was forced. After our first-half Moonshot position in XLF paid off, I had to put on the other leg of that trade. That changed the playing field, hence the update. Everyone needs to get this list, so I’m linking to a recording of my presentation here. To get my watchlist and check out how I put on Moonshot trades, go here…

We’ll talk again soon,

Don Kaufman
Co-Founder, TheoTrade