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Tim Knight Says Fewer and Fewer Stocks Are Carrying This Whole Market
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Chapters13 segments · tap to seek
ticker lesson
Breakdown
0:00NASDAQ· ticker
NASDAQ — bulls control until slumps below yellow line
- NASDAQ peaked and poked above prior high
- Bulls control until slumps below yellow line
- Split among sectors with few stocks lifting market
2:05ES· ticker
ES — weak after failing to close above highs
- ES failed to close above highs
- Slumped and bottomed out last week
- RTY down half a percent
4:01Micron· ticker
Micron — major strength contributor
- Micron and another stock account for huge strength
- Metals tend to move with equities
- Gold up slightly, silver trying to recover
6:05STX· ticker
STX — island reversal top, shorting opportunity
- Island reversal top with abandoned bar
- Shorted STX after Friday's drop
- Down 8% today, potential failure of trend line
8:05WDC· ticker
WDC — strong shorting pattern with defined support
- WDC down 7%, strong shorting pattern
- Defined support at 400
- Stock down 50% still a good short
9:58SpaceX· ticker
SpaceX — profit taking near 150 support
- SpaceX chugging along, nearing profit taking
- Support around 150, roach motel
- Weak in current strength
11:52EWC· ticker
EWC — shorted after Brazilian rally
- Shorted EWC after Brazilian rally
- Price gap target, shooting star pattern
- Support at 400, potential for further drop
11:53Ko Ru· ticker
Ko Ru — leveraged ETF down despite semiconductor gains
- Ko Ru down 4.5% despite semiconductor gains
- Leveraged ETF as funhouse mirror
- Tightened stop, waiting for semiconductor sell-off
11:54EWY· ticker
EWY — boring chart, shorting opportunity
- EWY is boring and not chartable
- Shorting EWY as it's uninteresting
- Semiconductors and SMH are also uninteresting
11:55ZB· ticker
ZB — interest rate probabilities and market tension
- ZB at war lows, potential for rate hike in December
- Market may need to rip higher or symbols to tumble
- Interest rate probabilities suggest 25 bp hike
11:56XLF, XLU, LQD, TLT· ticker
XLF, XLU, LQD, TLT — interest-sensitive ETFs rallying
- XLU up 2%, equities defying gravity
- Interest-sensitive ETFs rallying
- Market may need to rip higher or symbols to tumble
11:57Nvidia, SMH· ticker
Nvidia, SMH — no bearish signs, high valuations
- Nvidia and SMH have no bearish signs
- High valuations, charting under rocks
- Market may need to rip higher or symbols to tumble
11:5810-year, 2-year· ticker
10-year, 2-year — interest rate divergence
- 10-year significantly higher than 2-year
- Interest rate probabilities suggest 25 bp hike
- Market may need to rip higher or symbols to tumble
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