A Week for Patience

$DIA $SPY $QQQ $IWM

I haven’t posted much this week, and it’s been deliberate. I think the environment of the markets since Monday has been one that’s warranted more watching and less action. Pictured below are 30 minute charts of the 4 major indices, with AVWAP’s from Monday’s open. Today’s afternoon reversal has all but the QQQ 0.00%↑ below the Monday AVWAP.

Here’s a chart of the UVXY 0.00%↑ . This is an instrument that’s capturing volatility and is designed to go down. It’s working on its third straight green day.

So with this backdrop, I’m inclined to spend more time observing, and less pumping out actionable idea’s that I’ve taken. Some prior mentions that are working and I believe remain constructive -

Bitcoin - $67K and remains constructive above the AVWAP from prior all-time high (which is around $64K). I’ve pointed about the sizable overhead supply up here, and so far it’s been digesting that pretty well.

VKTX 0.00%↑ - Nice post earnings move and is following that up today. It’s got a great base and looks positioned for a move back to prior highs.

PALL 0.00%↑ is rocking , up 14% this week. I’ve pulled some profits, I want to see what this does near $115, which was a prior sell-off level

PLTR 0.00%↑ - another new high today, it remains a core position of mine