First up today – ETFs. Individual stocks will be posted in TrendVue Trader Talk this morning.
Long or Short
As noted in this morning’s notes, price is hovering at an area that should provide support – yet there is significant downside ahead if support folds. Therefore we should be stalking the recent consolidation over the past couple of days on either side of the market – keeping in mind that its also Quadruple Witching day – and the S&P 500 is being rebalanced – so markets may make exagerated moves which are not reflected in price by the close.
QQQQ – 3 Inside Up setup
SPY – also 3 in Up – you must check the underlying index first on all these ETFs to know what to ignore.
DIA – seemingly the weaker (last few days) of the three – chances are I’ll focus my trading on DIA / YM over the others if I need to open new swing trade shorts today.
05.03.18 09:28 #