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Some thoughts on the market heading into Monday: Did we see a failed breakdown for the indexes? Nice to those reclaims in $SPY $QQQ considering where we closed Wednesday. Just need some contraction, and the bounce to hold. Some positive action for $AMZN $MSFT - solid reactions helping the $MAGS bounce. The AI trade bounced aggressively, but charts are massively wide and loose. Where are the tight, low risk areas to judiciously manage risk from? Moving averages and resistance gaps remain above for many, with their trends still DOWN. The biggest bounces happen in downtrends. Software looks like the most exciting group to me. Earnings in the way of some nice setups. What stocks like $DDOG, $SNOW, $NET, $CRWD etc do next will be telling. $IGV faces the 200-day. Crypto was tightening up and broke lower. No rush here. The big money is made when stocks and the indexes are above rising moving averages. Trying to catch the low is a useless and unnecessary endeavour that’s going to do more harm than good. A few travel stocks are tightening up. Just a rotation play, or a possible group move on the horizon? Airlines, cruises etc. With earnings approaching for MANY stocks, no need to be a hero. Let the market show you what it wants, where the whales move their money - that will guide us to the next round of opportunities. Dan Zanger talks about there being ‘3 or 4’ good periods a year for trading. In between, there’s nothing to really go. Don’t style drift just to try and stay busy with what’s in favour right now. Be patient, focus on A+ opportunities. If there’s nothing to do, do nothing. You will feel the environment shift. New trades will take off, and very suddenly there will be so many setups that you won’t have the capital to buy them. Let’s get it this week!