ETF Trading Research 11/19/2018

We never broke 2750 this morning and 2700 support was broken. We had SOXS and LABD turn red on the weekly Friday and UDOW green on the weekly and a mixed market with SQQQ also green on the weekly. I leaned long and expected a bounce because of this reversal but futures opened lower and never got going, with SOXS going back to green on the weekly. With a mixed market I tried to stay on the sidelines and only went long at a support area that didn’t work out, even though oil I thought would support us. It somewhat did but stopped out a bit too early before a move up to 2700 area, but end of day got more of a sell off again so didn’t miss much of a run. If oil does want to take off, and I think it will, then it should drag markets up with it. But we need USD/JPY to tag along which it didn’t today.

These ETFs will follow U.S. markets higher or lower is what I said yesterday and BZQ and YANG were up today but no follow through while RUSL was up with oil up. These all may open higher tomorrow and lead U.S. higher from what I see as long as Trump stays quiet on China.

TMF up today but if we get the markets to finally move up, TMV should be the trade.

Nat gas has just been a mess of late and while I got us out of the current trade DGAZ did rebound end of day nicely. We will keep an eye on it tomorrow and still look for a long in DGAZ to pick up where we got stopped out or lower if we get any signals. DGAZ 4 out of 5 days in the Cold Corner. Due for a bigger bounce but still needs to prove itself.

Last night I said we should look long oil for a bit and UWT and today got some profit from it. We got back in on a little dip and look to profit more in the next few days from it, data or not. OPEC meeting tomorrow will dictate along with some data.

With miners 3 days in the hot corner they were due for a pullback, but ended up a hair today. However, off their highs and I gave an unofficial signal for DUST and JDST to trade. We should concentrate on a move lower as long as the dollar can confirm tomorrow, as well as USLV and UGLD in the red with JNUG and NUGT.