Creator of the 'Matrix Daily Edge' Author of 'Fractal Market Mastery' Contributor to 'Seeking Alpha' See pinned tweet for free trial / Substack
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Joined January 2011
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The Matrix Daily Edge is published before each US session and outlines actionable ideas, directional bias, and important levels in the S&P500, commodities, crypto, and others. Free Trial - mailchi.mp/888cf8615120/free…
Now also on Substack - matrixdailyedge.substack.com
Andrew McElroy retweeted
This week's target was 7720.
Tuesday's Daily Edge highlighted the setup - a final low and recovery back over 7507. Today's update provides targets and expectations for November matrixdailyedge.substack.com…
Last few weeks have topped on a Wednesday and fallen hard Thursday/Friday, led lower by tech/semis. I'm hoping for a change but be careful.
Today's Daily Edge looks at ways to buy safely.
There's a significant futures/cash divergence in structure due to the new lows overnight. Futures completed a a wedge (as shown). Cash? Not sure, and it's a 3 leg rally. I think that will matter at some point, but not today :)
This week's target was 7720.
Tuesday's Daily Edge highlighted the setup - a final low and recovery back over 7507. Today's update provides targets and expectations for November matrixdailyedge.substack.com…
Andrew McElroy retweeted
SOXX still acting like Dems are going to turn the data centers into mosques. Hoping this is the last leg like this pre-market chart suggests
Oil calls leading into the top and confirming the reversal earlier this week for low 90s. Already done
SOXX still acting like Dems are going to turn the data centers into mosques. Hoping this is the last leg like this pre-market chart suggests
Tuesday's Daily Edge highlighted the setup - a final low and recovery back over 7507. Today's update provides targets and expectations for November matrixdailyedge.substack.com…
Midterm considerations and major supports. Today's Daily Edge is now free on Substack and includes ideas like the Broadcom (AVGO) before and after attached. matrixdailyedge.substack.com…
Andrew McElroy retweeted
Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders.
Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.
Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders.
Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.
Happy with this call a few weeks back on GOOGL>It had a bullish pattern but something looked wrong and I avoided until today at $282 measured move
I think the key is to position early when there is an edge. Then just fingers crossed and manage the position when the numbers are released. Some of the best trades set up afterwards.
To say that technicals have any predictive power over earnings assumes that insiders know the outcome and have been moving the stock enough for us to recognize it.
Today even topped the same time as last Wednesday. Still, I don't think that means the outcome will be the same, only that sentiment, expectations are.
Today is setting up almost exactly like last week's META/TSLA earnings, with Friday's new low and weak close, Monday's gap up and recovery, Tuesday's consolidation, and now Wednesday looking strong. Not only does the daily chart look similar, but the weekly chart has the same pattern as it had last Wednesday, and the size of the recovery is almost identical.
So, if the technicals are almost exactly the same, can we expect a different outcome?
