Mid-Week Market Update

A quick look at the charts

Due to a time constraint today’s Mid-Week update is a quick view of the charts on my Twitter feed.

Click here for the complete thread

Andrew Moss, CMT @Andy__Moss

The intraday action doesn't feel great the last two days. But let's take a look at the daily picture for some perspective. $SPX 🟢Inside day 🟢Above 4100 s/r 🟢Above the 8-day EMA Nothing is technically broken. Still normal, healthy consolidation so far.

Andrew Moss, CMT @Andy__Moss

$QQQ 🟢Inside day 🟢Above $303 pivot 🟢Above the 8-day EMA Likewise, nothing damaged so far. Simply finding some resistance at 311-312, which is to be expected as there is a pivot high and the ATH anchored VWAP there.

Andrew Moss, CMT @Andy__Moss

$IWM keeps the habit of doing a little more, in both directions. 🟡Below the 8-day EMA 🟢Inside day 🟢Still above the 190-191 s/r zone

Andrew Moss, CMT @Andy__Moss

$DIA stays mostly centered in the tug-o-war and has ample support below and resistance above.

Andrew Moss, CMT @Andy__Moss

$DXY The Dollar is also holding steady, not giving us any clues yet. 🟡Inside day 🟢Still below the declining 50-day MA

Have a good evening.

---

***This is NOT financial advice. NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.

Andrew Moss is an associated member of T3 Trading Group, LLC (“T3TG”) a SEC registered broker/dealer and member of FINRA/SIPC.  All trades placed by Mr. Moss are done through T3TG.

Statements in this article represent the opinions of that person only and do not necessarily reflect the opinions of T3TG or any other person associated with T3TG.   

It is possible that Mr. Moss may hold an investment position (or may be contemplating holding an investment position) that is inconsistent with the information provided or the opinion being expressed.  This may reflect the financial or other circumstances of the individual or it may reflect some other consideration.  Readers of this article should take this into account when evaluating the information provided or the opinions being expressed.

All investments are subject to risk of loss, which you should consider in making any investment decisions.  Readers of this article should consult with their financial advisors, attorneys, accountants or other qualified investors prior to making any investment decision.   

POSITION DISCLOSURE

February 8, 2023 4:00 PM

Long:  AMZN, LMND, NVDA0217P210, QQQ

Short: 

Options symbols are denoted as follows:

Ticker, Date, Call/Put, Strike Price

Example: VXX1218C30 = VXX 12/18 Call with a $30 strike