TMAD Flow: Trade Updates and Market Levels

$SPX $NDX

Hi everyone,

As I mentioned over the last couple of days, we were very overextended and a pullback was much needed. We might not be done yet; there are still open gaps below on the SPY and QQQ. Keep an open mind and avoid going aggressively long at this point.

Selective trades based on scanner. As noted yesterday, we have been trailing stops for good reason.

Case Study from today:

Our scanner caught RXT today. It was moving extremely fast, so we hopped on quickly; however, you can filter through those names yourself using the scanner.

When searching, I look for highest momentum first (by clicking on the momentum button under screener to categorize from highest or lowest).

From there, I identify tickers with significant GEX activity, such as call surge. To confirm a trade, I require positive GEX and a Relative Volume (RVOL) higher than 1. I picked RXT 0.00%↑ and hit it hard.

This is exactly how you find names that are flying or about to fly. The screener is very simple once you follow that flow.

(Same works for shorting, you need high momentum, put surge and negative GEX).

Please join us for our weekly chat tomorrow at 11am ET, with Alessio and I.

Now, let’s dive quickly into the SPX and NDX levels and do our trade log update: