WARNING: Market Is Testing A Critical Support!!!
In a Nutshell
Markets are testing critical support at 586 on QQQ amid geopolitical escalations (US strikes on Iran, oil at $116/barrel), high inflation from Powell, and weak data (Dow's worst month since 2022, new home sales down 17.6%). Avoid aggressive dip buys today; consider small swing trades targeting 607-610 recovery or intraday shorts (no overnight due to oversold conditions and Trump tweet risk), while Rivian (RIVN) is a poor short-term buy after pumping to $17 on Uber news despite massive losses. Check Investing Pro (55% off) for research and LPP for live trading.
These notes were generated by AI and may contain inaccuracies.
Ricky discusses intraday day trade opportunities and swing trade or larger timeframe setups. NASDAQ market is trading lower but has not made new lows since the open; markets are consolidating. Should you buy the dip? Uncertain for day trading today due to market sentiment.
Last week Trump said deescalating, but today US Secretary of War announced the largest strike package yet against Iran. Escalations add uncertainty and fear, causing markets to drop. Jerome Powell's press conference yesterday: due to oil prices and inflation higher than desired, oil will drive inflation higher; no rate cuts anytime soon. Markets factoring this in, trading lower but within range. Avoid aggressively buying the dip today.
Markets technically at previous support range, no new lows. Since November 2025, QQQ (NASDAQ ETF) consolidating and holding strong support above 586. Markets could go lower, but past pattern: finds support here and recovers to previous highs. Common pattern of recovery after support, though Trump's tweets may not save it this time.
Willing risk-takers buying as swing trade to recover to previous highs of 607-610 per share. Be mindful of position size. Markets can go lower with more uncertainty.
Shorting makes sense intraday as day trade for risk management, but do not carry short overnight. Markets oversold; recovery could turn short against you. Risk-to-reward not favorable for overnight short: more recovery potential upside than downside (e.g., to 585 or 580). Oversold on larger timeframe, not overbought. Markets influenced by Trump's tweets, which come when needed.
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