ETF Trading Research 11/12/2018
Got some good unofficial calls to start the day and added some good official calls but put a damper on it by the end of day fall. The good news is we should get the bounce here soon to over 2800 in /ES. The question is, do we fall first to below 2700/2695 or shoot straight up. So your risk is 30/35 points down for 70 points up. Risk vs reward thus is on the long side. My signals got us back in around our stop out on the last trades, but we reached our goal of 2730’s in /ES and that’s where we are now. Still a support area even though it broke below it on that end of day move.
Economic Data For Tomorrow
4 FOMC members speaking tomorrow.
http://www.investing.com/economic-calendar/
Stock Market
Markets sure showed us what they are made of today. After an overnight attempt to push higher, they just never got going and fell all day with small reprieves. We rode a few down and switched sides long by end of day. Tomorrow we should see a continuation higher with our trades long.
Foreign Markets
3 days in the Cold Corner for YINN and RUSL. Watch for a bounce to trade up tomorrow.
Interest Rates
TMF took off higher with the dollar getting a big benefit from the sell off.
Energy
UGAZ I made a comment when it was 129 area and that it may test the pre-market high of 139. It did and after hours surpassed it to 142 or so. Setting up sometime this week for a big DGAZ trade. We won’t miss that one.
UWT is still a tough one. Thought we had it right this morning, but fell with the market. Will look down still before up but OPEC still can cause wrinkles.
Precious Metals and Mining
DUST took off higher as gold pushes to that 1180’s area. From there we will look long NUGT/JNUG. USLV too. Dollar still has strength in it. Could get a small little sympathy rally with the market rise though.
Recent Posts
