August 28, 2023 — “Chop City”

Adam Sarhan joins Shawn Vincent to discuss what happened last week in the market.

  • The 50-day moving average flipped from providing support to resistance. Adam explains why this is a bearish sign.
  • Adam described last week’s market action as “chop city,” meaning it is in a confused state. It’s a time for A.M.P.D. traders to be patient and wait for opportunities.
  • A.M.P.D. traders should be curating their watchlists so they can be ready to seize on opportunities when the market state changes.

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