3/5/26 Recap

The SPY rejected the 21 ema yesterday perfectly and again today made another attempt that failed and it is now losing the 100 day for the 2nd time in 3 days. This is just a downtrend now, you have to accept it. It’s hard because you’re always 1 tweet away from a peace deal and a wild rally. I don’t really see that coming but its always in the realm of possibilities. The only thing working right now is oil, chemicals, fertilizers all that is breaking out the rest of the market is struggling. As long as the vix remains bid, it is up 7% right now, equities are going to be volatile.

The QQQ closed up over the 21 ema yesterday but instantly gave it back today, these are the sorts of headfakes you get in a downtrend. Certain pockets of tech are working, the IGV, software, which was easily the worst sector up until last monday is now working on its 8th straight green candle while the rest of the QQQ remains in the same bear flag it has been in for a month. Times like this you either have to shift your focus to other sectors or play tech in a different manner meaning maybe you sell premium vs buying it and just stay calm because tech is always going to come back, its all we have, but when panic sets in it is always going to be the first sector sold.

Top Gainers From Yesterday’s Recap

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