WARNING: IS NOW A GOOD TIME TO SELL?
These notes were generated by AI and may contain inaccuracies.
Today's February 9th, 10:15 AM in Arizona. Bulls pushed a quick retest of pre-market lows at 605, forming a double bottom. Markets unable to break below ascending support. Comment if this is the beginning.
Previous videos noted markets more bullish than bearish. Handful of oversold companies present dip-buy opportunities as markets recover more often. Buying the dip makes sense if incredibly bullish. Uncertainty around crypto hovering at 70,000—does it have another leg down that drags the market?
On 1-minute and 5-minute time frames, consistent higher highs and higher lows intraday. Markets too overbought and overextended risk-to-reward wise. Does not make sense to go long here due to quick turns. Weigh options: risk-reward, expected day trade profit vs. affordable loss. Gap down vs. gap up potential. Markets up 1%, following significant Friday recovery after downturn. Back to mid-last week levels around 617-620 per share.
On 1-hour time frame, in previous support range now acting as new resistance. Markets look strong, pushing higher for longer. For day traders considering longs, take downside risk into account—avoid buying into downturn.
If okay with downside risk and see more upside (e.g., to 630-640 over days), that's valid with different timeline. Be aware of potential pullback.
BTC aggressively pulling back then recovering, testing old support at 70 now new resistance. MSTR up 1.55% (impressive after 25% green day Friday, closing at 134 after lows of 100, up to 128-130). Pre-market down 4-5% like NASDAQ, retested support, V-shaped recovery.
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