3/7 market update

intraday/swing trade


today we have JPowell talks about his semi annual monetary policy presentation. Again expect lots of grandstanding during the time. It will be interesting today to see if he has any thought. If he's reacting to it. If he thinks there's anything to be done like higher for longer, higher terminal rate, and that's what everyone is going to focus on. It's a 2 day meeting, I would not just use today as direction. We also have Jolts report tomorrow and Friday most important report, NFP. That's probably going to be what directs to the market, Chairman JPowell, Jolts, NFP.

This morning we have some earnings rolling out
$DKS up 6%, pretty strong quarter
$SE looks also strong quarter.
These two will be day after trade.

$META good to see they are cutting people, that's what investors like to see in this environment, cost cutting and more profitability. However, same thing would not work again, just can't go up everyday with the same kind of news. More important is TikTok, noting is passed yet. If so $META has room over 200 at least.

$CRM I talked about few times, right now 8day is at 175, I think by the time stock goes to 180, 8day will be close to there as well, and that's where I will be buying again. That will be a focus to me.

$TSLA gap and ugly reversal, I see pivot low 186, 178-180 should see more buyers there.

$NVDA rejected after 240 fail, fancy chartist probably call it doji candle, 7 points off high yesterday, usually when you see this type of things, there's follow through to the downside, 233-230 is what I see, it's the area I can see most short are against or long against.

today is the kind of day we can have those big move, up 3 then chairman says something people say "oh wait a second, I misunderstand" then we are back down, so I urge again not to over trade. I will trade carefully, hope I get some insight from our chairman..

good luck all and happy trading