September 7th 2021 Weekly Update
$QQQ The Daily MACD crossed down and the MFI has changed directions. We are looking for a bounce around the 20 EMA (375.52). #stocks #options #trading #investing #charting pic.twitter.com/SQZuKUs49e
— Wall Street Kings (@thewallstkings) September 10, 2021
All Major averages ended sharply in the red, although still in striking distance of their all time highs. As we tweeted out, the QQQ (which tracks the NASDAQ 100 index) closed below a key level, pointing to a leg lower for big tech. With the coming CPI data related (metric related to inflation) and the monthly options expiration this coming Friday (September 17th 2021) expect increased volatility across the market.
During times like this, it is important to me mindful of your position sizes and even more importantly to not panic sell. As the old saying goes....
Feel free to leave questions in the comments below or on twitter.
Happy Trading!