Momo Market Roundup, 5/18/2022 — $SPY Complete Meltdown… $TGT Follows Walmart’s Path… $TSLA Weakness… 

 May 18, 2022

By  spectre_trades

$SPY Complete Meltdown

SPY opened with a fairly decent gap down.. And it was straight into sell mode right out of the gate. It was not super aggressive but consistent all day. This is where patience and planning pays. We never made new highs for most of the day on any major timeframe.. And just trended lower… level to level. Days like this can supercharge your account growth. 4020P went from 12 bucks to over 100 at the lows. That is what we call amazing risk reward.

$TGT Follows Walmart's Path

TGT also gapped down… like Walmart.. It gave an excellent morning pop into our 168 watchlist level to join short.. And it basically melted down with the market.. Even offering reloads. This is why we take profit at the levels… because you never know! 165P from 4 bucks to 10!

$TSLA Weakness

TSLA is performing not well either. It basically retested our 760 level in the morning chaos and trended lower… all the way into 700. If we get a close below that things are going to get very ugly. 750P from 16 to 53…

Two Hour Trader Student Results

We love trend days! Up or down!


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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