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Gap up above the yesterday's high so could be a trend day either up or down.
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Decisively break the EMA20 then it's a range day. Decisively break the day low in the next couple of bars then it's a downtrend day. Key time.
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Yesterday's close hanging tough so far, will there be a fourth knock on the door today or is it over.
Waiting for the late day regularly scheduled rally.
Testing day low, let's see whether bulls can make a double bottom here.
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According to Goldman's Vishal Vivek, strong options trading activity in single stocks, dominated by volumes in AMZN, TSLA, AAPL, NVDA and GOOGL, have driven average daily value traded to an all time high: $534 BN of options have traded on the average day in July (including $348bn in call options), well above the prior year average of $367bn.
with 64% of all trading this month in just 5 names (AMZN, TSLA, AAPL,NVDA, GOOGL)...
investors have increasingly focused on trading ultra short-dated options; options with less than 2 weeks to expiry comprise 75% of all trades.
What is notable is that whereas recent bursts of option activity which culminated in the first quarter of 2021 targeted meme stocks, this time the call buyers are going for the FAAMGs themselves. It remains unclear if buyers of call are institutions or retail buyers...
..... even as market breadth has collapsed..
[GS and zh]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Given the data I just posted: “64% of all trading this month is in just 5 names (AMZN, TSLA, AAPL,NVDA, GOOGL)"
I consturcted an ICARUS TECH chart, 30 min, one month
Last edited by Al_Dente on Fri Jul 16, 2021 3:17 pm, edited 1 time in total.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.