ETF Trading Research 1/14/2019

Was a choppy, crappy day to trade overall as the markets stayed in a tight range all day long. UGAZ continued higher and we caught a trade in DGAZ or two but once it broke to a lower low had to give up on it and wait another day. We we were at a resistance level and I’ll always trade resistance levels. Next one is 3.66 for nat gas and we’ll look to get short there if we get there. Small upside in UGAZ I think at this point.

We are closer and closer to a reversal in metals now that we are not making higher highs. Still would like to see a break of 1300 first though. Not sure we get it but soon would be nice.

Interest rates headed lower a bit.

Oil a little lower and all in there soon. But want to see if it breaks free from trading with the markets for a bit. 55 and higher is within reach still.

GUSH should move up with the market. It was up today even with the market lower. One to watch.

GBTC showed some life finally after another beat down. Not green on weekly so no call there right now.

Watch LABU and SOXL tomorrow on any strength as FAS joins those two and SVXY as green on the weekly.

To wrap up for tomorrow; what to watch will be the reversal now in DGAZ back up from nat gas 3.66, reversal in UWT back up from oil 50.20, a topping this week in JNUG/NUGT and gold 1300’s and a bottoming in JDST/DUST. One eye on GUSH and always keep an eye on TVIX as the market moves up. It is getting manipulated lower for sure. And government is still shut down and there is no China trade agreement yet. This is Fed supported so they have permission to raise rates and if the market does want to go up, and we are seeing some signs it does, we have to be willing to try some longs in LABU and SOXL. Watch that 2560/2570 level as support for /ES.