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$QQQ $SPY $USO $VIX $GLD $SLV Momentum Shifting Signals | Midday Market Minute | 5.12.22

Posted: May 12, 2022, 5:53 p.m.


The Selloff continues for Stocks continues this week. 4010 has given way in the S&P, joining large companies like $AAPL breaking well established up trendlines. The Nasdaq has retraced 50% from the Covid lows to the contract highs.

Check out our video on Fibonacci Retracements!

3 Pronged Approach:

-Carnage in Retail Stocks is Apparent ($SFIX, $PRON). High fliers like $NFLX, as well as Disruption Stocks such as $COIN are down significantly.

-Negative Sentiment is at extreme levels. With that said, has the Market hurt the most amount of people? -$VIX has not had the panic spike, yet do we really need one?

Our Daily Morning Express Research gives insight into this scenario! 

-The VIX Hedges are not performing like they were in 2016. Crude Oil continues to hold Support ($102.50-$104.50). The ~$107 range is Major 3 Star Resistance, which needs to be broken through to get to $111.

Silver has broken the floor we have been leaning on for the past 2 years. The US Dollar continues to make contract highs, which is hurting the Silver and Gold Bulls.



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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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