Wednesday pre-market analysis
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WEDNESDAY PREMARKET ANALYSIS: China GDP grows 4.9%, Hang Seng still red overnight, 35% of China economy is made up of housing (still concerns) FED POWELL to speak 🗣️ Thursday. Housing data this morning 8:30 am. DXY (US Dollar) flat overnight, dipped as low as 106.06 but back at the 106.35 range. Would need to see a drop and hold under 106 to be bullish. UAL reported earnings (Poor guidance, higher costs) SPY LEVELS for today; 438.20 (yesterdays high which was rejected) I mentioned rejection likely around 438, we have seen it now 3 times in the past week. SPY dark pool levels - 429.81, 431.73, 433.65, 435.57, 437.49 - volume on the SPY, strong volume will be 10,000,000 x 10 a.m., 20,000,000 x 11 a.m. - if volume is strong, I tend to play momentum. If volume is weak, then I look for a reversal play. RH 39 dollar account starts today (2 1/2 weeks into challenge) at 350 dollars. GL today, trade smart, trade safe, PLAN AHEAD, secure profit & repeat. FYI: When I enter a trade, I want to be GREEN within the first 10-12 minutes if not than I entered too early (and that’s a flaw of mine, Im constantly working to improve) that and my damn scissor ✂️ hands 🙌.
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