ETF Trading Research 2/12/2019

Market turned up after hours last night with the promise of no government shutdown in the works. Looks to be something they will follow through on. But I think between today and tomorrow we get our blow off top. While we move further into the loss column today, the move up on tariff’s yesterday was minimal and all the negative data ignored this morning was trumped by the same news from yesterday, and after hours yesterday, and nothing new except the JOLT Jobs data coming in positive. Looks like that’s all the market needed today. We broke through my line in the sand at 2731 and hit 2748 Currently 2745 as I type. But TVIX on the last 17 points up did not make a new low and SQQQ and LABD held in there only falling 1% more with SOXS 2% more. We can make that up easily assuming we get our retreat to begin tomorrow into the 18th of February minimum.

It was options expiration today so a little volatile with that but now we should see everything we are in move up tomorrow into the 18th. No more news can drive this market up and nothing came from Powell today.

Rug pull time sometime tomorrow into Thursday is what I see as no more corporate buybacks will take place. Even Senator Rubio today sided with Democrats on corporations using cash for buybacks and that spooked the market a bit.

Rarely do we get us turning red on one side then going back to green again, but that’s what the market did. But it was fueled by fluff news so I don’t trust it. Find out the verdict tomorrow.