Watch the 2022 Lows – They Are Everything


SPX futures are -90 handles. On Thursday, the index broke 4073 which meant risk-off and time to get short. Friday gave downside follow-through with a low of 3900. We'll see if the 2022 low of 3810 tries to hold at first kiss into the Fed Wednesday.

This is Day #3 down and the oscillator will be at -60 so it’s hard to press shorts in the morning. For tactical buys, I’d use 5-15-30 minute lows with signals.

I’ll focus on SPYQQQAAPLAMD, and TSLA. I’m glad we’ve prioritized cash and taken risk down this year. We’ll stay prepared and try and net money short-term. Longer-term, there will be other opportunities.


TSLA lost special status months ago. Last week it did a Red Dog Reversal sell around the $749 pivot and hit a low of $683 Friday. It announced a 3 for 1 stock split. That wasn't new news though. I kept some from buying it Friday. We'll see if it shows some relative strength for a cash flow long vs. a 5-15-30 minute low. $655 is support. The 2022 low is $620.57 and is very important. There might be an opportunity there but chances are the stock goes lower this summer.

AMZN gave many a 25% move off the lows heading into the split. Then it gave a sell signal when it broke above $125.61 and failed. Some got short as it lost the $120.63 area. I’d cover some this morning. We'll see how it handles the $101.26 2022 low. I've avoided it the past few days. I will look for a signal today.

AMD got us out around $102 when it showed it's not special in a weak market. See how it handles the $89 area, or if there's a trade vs. a 5-15-30 minute low.

META broke $194 with force to get some out of leftover longs and other short. I’ve avoided it. $169 is the 2022 low of the year to watch today.

Scott's Positions Disclosure:

Leave a Comment: