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Tim Knight Says Friday Broke the Trend Lines Across Every Index
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ticker lesson
Breakdown
0:00lesson
Volatility collapse and trend line failures
- Volatility collapsing from 20 to 18
- ES and ENQ require constant observation
- Friday was a game changer for trend lines
- ES showing strong fight back
- Trend lines universally broken
2:02SMH· ticker
SMH support level and position trimming
- Trimmed SMH position to 30%
- Support level around 18 held for months
- Break of trend line led to trimming
- Damage on SMH still matters
3:54QUBT· ticker
Quantum computing chart pattern
- Quantum computing incubation pattern
- Symmetric triangle pattern
- Bounce after wipeout
- Exciting time for chartists
5:40XLU· ticker
XLU options strategy and volatility
- Long XLU puts for directional move
- XLU peaked and U-turned from overhead supply
- Implied volatility between 15% and 19%
- Long option play on XLU
7:12SpaceX· ticker
SpaceX as a storage vehicle
- SpaceX stuck around $150
- Second earnings report upcoming
- Interesting company with large market cap
- Not heavily traded instrument
9:07Tesla· ticker
Tesla short position and earnings outlook
- Short Tesla due to losing steam
- Peaked long time ago despite market strength
- Likely to slip lower than push higher post-earnings
11:00Gold· ticker
Gold and silver support levels
- Gold down, key level at 4,000
- Silver honored its own support
- Long-term hold above 4,000
- Precious metals need to move independently
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