ETF Trading Research 2/5/2019

We got a little push higher in /ES today but fell short of the 2740/2750 target. That said, saw first signs of weakness with LABD going positive and closing positive for the day and TVIX pushing up off the lows, so am taking the risk of holding and will see tomorrow if we finally get the selloff and a bigger move south towards 2700 break and then possibly 2650.

Gold held up today but dollar pushed higher and I think dollar wins that game now that Powell has said his piece last Friday. Gold has fallen since then and we just need GDX to break 22.16, yesterday’s lows and we should roll into some profit finally on these. JNUG turned to a sell so that helps. NUGT hopefully will tomorrow as we already have UGLD and USLV as sells.

UGAZ was up 3% for us and I had put in a 2% trailing stop and chased higher by 20 cents getting back in but after a stop out got back in again higher by 20 cents and we should be good to go by tomorrow.

DWT looks to continue lower with the market and may put a buy in on it at the open tomorrow.

Watch closely the Foreign ETFs tomorrow and if you see weakness in them, we may get a reversal. BRZU I wrote yesterday might be a leading indicator and today it closed down -1.61%.