Strategy Session Video – April 29, 2026

by MarketMentor

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Read the transcript HERE

Key Takeaways

  • Breadth vs. Price: A “narrow market” (where fewer than half the stocks are above VWAP) indicates that while the indices are at highs, the rally is being carried by a few “generals.” This requires caution as the “soldiers” are not yet participating.

  • The “If it Bleeds, it Leads” Rule: Financial news often amplifies bearishness or Fed uncertainty. Professional traders must ignore the “ranting” and focus on the Arbiter of Truth: price action and volume Skyscrapers.

  • Implied Move Breaches: When a stock like Google moves past its options-market “expected move” ($370), it signals extreme institutional conviction and often leads to a multi-day momentum run.

  • The Power of the 8-Day EMA: For swing traders, the 8-day exponential moving average is the definitive “line in the sand.” As long as semiconductors stay above this level, the short-term trend is your friend.

  • Patience and the “Limping Gazelle”: Successful trading involves waiting like a lion for the perfect setup. If your current positions aren’t working, “take a nap” in cash rather than forcing trades in a choppy environment.

The Earnings “After-Shock”—Google Rips while Meta Dips

The Great Divergence

Wednesday night delivered a tale of two tech giants. Google ($GOOGL) blasted through its options-implied move, signaling that its AI efforts with Gemini are finally being valued by the street. On the flip side, Meta ($META) took a “powder,” dropping toward its downside limits. As Dan Fitzpatrick explains, these extremes create the perfect playground for the 59-Minute Trader. Tomorrow morning, we aren’t looking at fundamentals; we are trading the gap and the “opening rotation.”

Riding the DRAM Lightning

The data storage sector is no longer just “cyclical”—it has become structural. Seagate ($STX) reported a monster quarter, sending ripples through the entire DRAM ETF. This sector is “gappy” and “sporty,” but the trend is undeniably higher. While the bears complain about “overextended” chips, the tape shows institutional buyers vacuuming up every dip. If you’re long, trust your “friend” (the trend) and use the 8-day EMA as your guardrail.

The “Altman” Narrative vs. Market Reality

There is a growing split between the PR coming out of OpenAI and the reality of the numbers. While Sam Altman acts like the “Animal House” band leader shouting “all is well,” the market is more interested in CAPEX and Revenue. However, as a technical trader, you don’t need to decide who is a “BS artist.” You just need to follow the Skyscraper Volume. If institutions are buying the gap-downs, the bullish thesis remains intact.

The Lion’s Strategy

Part of being a veteran is knowing when not to trade. In a market this volatile, we don’t guess. We wait for the “limping gazelle”—the perfect setup with a defined trigger. Whether it’s a “Moneymaker” pattern in semiconductors or a “Phase 2” pullback in Navitas, we define our risk before the trade and stick to our guns.

Strategy Session

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