Andrew McElroy (@MatrixTrade_) header
Andrew McElroy (@MatrixTrade_) profile picture

Creator of the 'Matrix Daily Edge' Author of 'Fractal Market Mastery' Contributor to 'Seeking Alpha' See pinned tweet for free trial / Substack

UK
Joined January 2011
Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)Photo by Andrew McElroy (@MatrixTrade_)
The Matrix Daily Edge is published before each US session and outlines actionable ideas, directional bias, and important levels in the S&P500, commodities, crypto, and others. Free Trial - mailchi.mp/888cf8615120/free… Now also on Substack - matrixdailyedge.substack.com
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Today's Daily Edge looks at longer term implications for the S&P500 (SPY) and the Nasdaq (QQQ), and also update Bitcoin, gold and oil. Free now on Substack. matrixdailyedge.substack.com…
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This count says the Nasdaq (QQQ) has bottomed. Unfortunately, it's invalid as wave 3 is the shortest. So, be careful chasing here.
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Andrew McElroy retweeted
Nasdaq (QQQ) head and shoulders met the target
Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders. Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.
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Nasdaq (QQQ) head and shoulders met the target
Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders. Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.
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Nasdaq (QQQ) Weekly
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Andrew McElroy retweeted
This week's target was 7720.
Tuesday's Daily Edge highlighted the setup - a final low and recovery back over 7507. Today's update provides targets and expectations for November matrixdailyedge.substack.com…
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Last few weeks have topped on a Wednesday and fallen hard Thursday/Friday, led lower by tech/semis. I'm hoping for a change but be careful. Today's Daily Edge looks at ways to buy safely.
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There's a significant futures/cash divergence in structure due to the new lows overnight. Futures completed a a wedge (as shown). Cash? Not sure, and it's a 3 leg rally. I think that will matter at some point, but not today :)
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This week's target was 7720.
Tuesday's Daily Edge highlighted the setup - a final low and recovery back over 7507. Today's update provides targets and expectations for November matrixdailyedge.substack.com…
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Andrew McElroy retweeted
SOXX still acting like Dems are going to turn the data centers into mosques. Hoping this is the last leg like this pre-market chart suggests
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Oil calls leading into the top and confirming the reversal earlier this week for low 90s. Already done
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SOXX still acting like Dems are going to turn the data centers into mosques. Hoping this is the last leg like this pre-market chart suggests
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Tuesday's Daily Edge highlighted the setup - a final low and recovery back over 7507. Today's update provides targets and expectations for November matrixdailyedge.substack.com…
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Nasdaq (QQQ) decline was equal to June/July, and the two legs from the October high were equal.
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Midterm considerations and major supports. Today's Daily Edge is now free on Substack and includes ideas like the Broadcom (AVGO) before and after attached. matrixdailyedge.substack.com…
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Andrew McElroy retweeted
Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders. Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.
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Nasdaq (QQQ) dead on the monthly and weekly lows, triggering a head and shoulders. Dangerous, but last two Fridays it has made a new low, gets everyone bearish and then bounces on Monday.
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AMZN action today before earnings - 4%...they knew what was coming!!
To say that technicals have any predictive power over earnings assumes that insiders know the outcome and have been moving the stock enough for us to recognize it.
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Happy with this call a few weeks back on GOOGL>It had a bullish pattern but something looked wrong and I avoided until today at $282 measured move
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I think the key is to position early when there is an edge. Then just fingers crossed and manage the position when the numbers are released. Some of the best trades set up afterwards.
To say that technicals have any predictive power over earnings assumes that insiders know the outcome and have been moving the stock enough for us to recognize it.
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