ETF Trading Research 4/3/2019

We had a move up once again with the market but the main part of the move occurred pre-market and then all the bad data came in. But what does the market do? Move higher. This is not your father’s market. It’s not even a market from 2 years ago. It’s driven by momentum and news, even fake news, and fluff from the Fed. Data is itrelevant and while all my signals are not pointing to overbought and a turning of the tide, which we might have caught it today., we need that one day of continuation of TVIX to take off over 26.21. We did break yesterday’s high and that is BULLIH. We took small profit from it and got back in on the assumption we get that continuation higher now.

Another reason to like the short side of the market is the oil data was a big build. Not a small one but a huge one. What does DWT do? Not much as they kept it under 6 most of the day. But DRIP sure did take off and we profited from it.

BRZU our other leading indicator also reversed today about -7% from the highs. That’s what we need if we are going to reverse.

Next all we need is to see some sell signals come in with my system. Maybe by tomorrow morning. I mean how many times will the CNBC headline be this?

Metals and miners should follow the dollar. Nat gas we had UGAZ fall but I think a buy over 29.50 tomorrow for a scalp at least to get some of that loss back. Short oil might be a home run trade here soon. SOXS is also due for a decent reversal.