3/8 market update

intraday/swing trade

futures are slightly down this morning, this is after real selling of hawkish JPowell, he basically said higher for longer and unless the news changes today and Friday, you should expect higher rates, higher terminal rates through 2023, so here's what we are looking at. Market is no longer being one side, the information we have coming, if it's hot market should go lower, if it's not, we should bounce. But I think right now without some really cooler number that coming below expectation that shows real inflation slow down, we are in a market that is in correct phase. This year has really been about what to buy when everyone is not buying. I think now it's really going to be about is our economy finally slowing down, can inflation finally slow down, and if so stocks can have decent bounce. Right now it's not looking great. The yields curve has inverted more than what we have seen in decades at this point, 2 year way above  the 10 indicates recession. We have ADP coming out today at 8:30, market mover, the real market mover is not NFP which is Friday, but serious important. Jolts report is going to be the real market mover because we want to stop seeing so many jobs available. We want to see slow down and the economy, so getting a job isn't so easy. So for those technology company in the west coast when you get fired, you don't get to find another job so easy within 3-4 weeks because that's what's been happening. 10 am Jolts will be very important, NFP is the end of all.



the big earning turns out of the night is $CRWD it had beat and raise strong guidance. It was price for 14, double the expected move today. If that sound similar to you, you paid very well attention, yes it's $SE, nice winner in the chat. If you see it gets above opening range high, there's decent chance it goes above 137-138 and match the expect move. Classic day after trade, not a market to chase, but for a trade. 149 will be the next goal if we are in bullish market.

$OXY Warrnet Buffet bought more stock 59.8-61.9, can be another focus

$TSLA a lot of messy today. 1. got downgrade 2. below 186 pivot. 3. a fellow works oversea asked publicly for his paycheck. 4. another investigation going on. Those should be reasons to keep pressure on the stock for today. 177 is a must hold area, If it doesn't hold, we can see 164-165 soon.

$CRM one of my favorite. If it pulls back to 180, I'll be glad to buy more.

$SPY 398-389 needs to hold, next pivot is 393
$QQQ if 295 don't hold, then we go down further to 290

good luck all and happy trading