TG Watkins – Technical Analysis Of The Market Chop Making For Difficult Trading
TG Watkins, Director of Stocks at Simpler Trading and editor at the Profit Pilot website, joins us to discuss the rough and turbulent general equities markets, and how both long and short trading has been difficult in what has appeared to be directionless markets. We talked about how some of the market chop may be in digesting the CPI and PPI inflation data readings, and the anticipated reaction to the Fed’s FOMC meeting tomorrow. TG discusses the concern he has in some high-flying reflation trade stocks not being able to get above key moving averages, and that it will take more time to see if the pricing trends keep getting rejected at resistance levels, or if they can break up through and establish new bullish trends.
Click here to visit the Profit Pilot website to follow along with what TG is trading.
different way to interpret /GC action…..we have been consolidating since june 2021 high…..but since then the shape is bullish on daily…..Green 1,2,3 is higher lows….with two 1,2, green lower lowers……predominately during this time was chop which was accumulation on dips…long…glta