The Nasdaq's 20 ema served as resistance last week up through Thursday, but Friday put the hammer to any possible rally as players opted to reduce war-related risk over the weekend..
The market discounts higher inflation related to the removal of some Russian supply from the crude and nat gas markets. Let's recall that it is the inflation aspect of this war that is of most interest to participants.
Last week, I was shocked to learn that Putin has no compunctions about being the first to use nukes in a war with the West. He has a giant annual exercise involving the Russian military. For the last number of years, the scenario ends with Russia nuking the West. That is the end of the exercise. He is not planning for any other scenario.
In summation, the trend is down and there are no pattern setups. Even if there were, it would not be in our best interest to take them.
Introduction to the service (38:00)
Money management and risk management (20:27)
Bread and butter pullback (11:10)
Bread and butter pullback: Pt II (15:09)
Bread and butter pullback: Pt III (31:48)
Bread and butter pullback: Pt IV (30:16)
Short-selling video (25:53)
Wyckoff spring setup (2:30)
5-minute breakup test (8:01)