Author: stonkgang

Owner of Stock Gang. A full time swing trader and financial independence author.

15th September 2023

The market ended with strength yesterday as QQQ broke away from its daily flag fuelled by some less common participants (MRNA, SIRI, CEG, PCAR, WBA etc) Breadth actually improved a little yesterday, a sign of light buying pressure stepping in. Date Bullish Bearish 14th September 330 85 13th September 115 242 12th September 147 160 11th September 211 151 Notable: $DIS has now reclaim its key monthly level and swiped on news of a potential

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14th September 2023

🪓🪓🪓 The market continues to chop following the CPI data from yesterday. The sheer lack of setups and leading names is a sign to be cautious. Yet with that said QQQ has built and attempting to break a bull flag. A few names like $COIN $RIVN $TSLA $MSFT $GOOGL $CFLT $ZS $NET… are building strong weekly flags. Breadth remains low with continued selling across the board. We can of course pivot on a dime but

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13th September 2023

Trading on CPI days can often be difficult, with increased volatility around pivots & breakouts. Yesterdays price action was erratic with some very aggressive stuffs. Multiple names broke out 4-5%+ only to give it back an hour later. This is not healthy price action & dramatically reduces your hit rate. With a reduced hit rate you’ll need an increase in R/R which this market is also not providing. Oil & Gas remained strong with crude

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12th September 2023

A strong move in the indexes yesterday thanks to mainly $TSLA $META and $AMZN. Overall the breadth remains low and follow through on breakouts is still few and far between. $IWM (small caps) are now underperforming SPY by the largest margin in 22 years. This is certainly something to take note of and makes sense given the current rate environment. I’d like to see small caps participate in order to gain a better sense of

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The Coin Flip

It’s no secret that most traders fail to turn a profit. Rather than bore you with stats I’m going to explain in simple turns why this is the case. Since launching the discord a few years ago and throughout my trading Journey I’ve had the luxury to speak with and watch many traders from the outside. As the odds would have it, most end up failing and throwing in the towel within their first 12-24

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