ETF Trading Research 2/21/2019

We saw the markets move lower today but still have some resilience in them as each dip was bought up and we finished above the 2765/2770 level at 2774.25. LABD led the way gaining 4% and that’s about 11% in two days. SOXS up 2% and SQQQ up over 1% with TVIX all over the place as the market tries and figures out should we allow fear to supplant complacency as it ended up 1.55% @ 31.55.

The good news for bears is sentiment is lower with this pullback and LABU/TQQQ both turned to sells along with TMF as rates push a bit higher.

I expect more red selling to show up tomorrow with FAS, SOXL and SVXY along with UDOW joining.

BRZU ended up down 1.47% but below 33.95 tomorrow should give the sign of more weakness coming in the U.S.

DWT also was up 1.39% with the data today that was bearish for oil but should have done better than that.

Most all the trades we are in had a cap on them today, not allowing them to move up further.

DUST and JDST had good days and look to see more out of them.

Same with UGAZ which had some bullish data come out today.

Data came out today that was very negative for the markets and markets after such a bullish run will wake up to more of this move lower over the next 2 weeks I think.

2650 is the target for /ES. From there we’ll see what the next move is, up or down. I don’t think we hit 2800 still or a blow off top to 2814 with the new red we see in the table below, and would like to simply see more red, including metals and miners and oil.