Wow, what a week in the financial markets. Interest rates spook pushed volume higher and tech stocks reversed higher out of its recent swoon.
Lots of action to recap, discuss, and several trading ideas to share! Here are my top takeaways for in this week’s video analysis:
– Narratives and correlations that are driving the market right now continue to be rising yields pressuring Nasdaq and rallying dollar pressuring metals (attached image: correlations)
– Highest volume week for many markets/stocks since pandemic started last year
– Lots of high volume outside reversals formed Friday from oversold levels
– Underlying breadth continues to be very supportive (see image image below)
The Trade Risk Weekly Video – March 6, 2021
Additional chart images:
Twitter: @EvanMedeiros
The author may hold a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
