7/9/26 Recap
The SPY came down yesterday and perfectly tested that 50 day, the yellow line, and closed back over the 21. So while things looked messy for a bit, we held right where we were supposed to and we’ve now reclaimed all the key moving averages. The war headlines shook alot of people out but again we didn’t violate any key moving averages on a close. A move over the level from 3 sessions again would be nice to see so we could invalidate the series of lower highs we’ve been in the last few weeks.
Tech stocks finally recovered today with the QQQ, below, closing under the 50 day 2 sessions in a row and then gapping up this morning. For now, we’re back in an uptrend, but what you’ll notice here is let’s say you closed 2 days ago on the close of 709.43, this morning we opened at 718.33. So you would have missed a little over 1% by being prudent and not being long under the 50 day. That’s the part of trading many miss, it isn’t about nailing every dollar of every trade, it is about ensuring you survive long enough to catch the next uptrend and by closing up trades that could go to $0 in the short term on overall market weakness, you’re ensuring your survival for what could now be a new uptrend. When a big moving average is lost, nobody knows how long we’re staying under it, go to January 2022 on the QQQ, we lost the 50 day and it was 3 months of weakness, followed by 2 weeks back over it, and then another 3 months below it. This particular time, it was just 2 days below, we were fortunate. Discipline with regards to short term trades is the only thing that will keep you from blowing up and taking huge losses. With longer term positions, they’re usually fine as you can see a 100 year chart and stocks mostly always are up and to the right over time. Key moving averages will break if you’re in a trade long enough, you just have to understand that you don’t have to press things short term, until they’re reclaimed, you really won’t miss that much I promise.
Database Changes
We have a pretty big addition coming tonight or tomorrow hopefully, but before we get to that there have been some smaller changes we released this week that I forgot to update you on.
The daily flow now updates every 20 seconds so you don’t need to constantly refresh the page. New trades show up in the three flow tables and the "Flow Signals Today" section automatically, no refresh needed. Newly-arrived rows briefly light up in green so they're easy to spot. Pauses when your tab isn't visible and resumes when you come back.
Sticky navigation bar added to every ticker page. A couple of you asked for this to make your life a little easier when you’re navigating the pages so you don’t have to scroll to the top every time. If it’s useful I’m always happy to oblige your requests.
My Open Book
