ETF Trading Research 5/28/2019

We hit 2800.50 after hours and bounced to 2805. That 2800 is a powerful support. I didn’t want to risk it overnight, but we are the point of bounce or breakdown to 2775 and if we do break 2800 after hours, worth a shot short to see if we hit 2775 support next.

JNUG moved up 12 cents off the low. Watching.

UGAZ tried to consolidate.

Oil flat.

Our market indicators;

Oil. Neutral the market

BRZU positive and didn’t fall much off its high. Bullish.

TMF off its highs and part of my reason for selling end of day. It stopped moving higher. Bearish/neutral now.

USD/JPY – 8 cents (could have just shorted when it went red for day. Low of 109.21 and at 109.35 showing a little support. Bearish/neutral

TVIX broke up today after hitting 21.62. We traded a couple times for profit but my guidance should have got you more early on. Bearish the market overall.

/ES 2805.75 after hours now and seeing it bounce off of 2800. From a technical standpoint, we should be bullish as long as it stays above 2800 at that 2800 support level. But bigger picture we break 2800 and 2775 comes into play. Break that and market will fall. Kind of mixed signals overall.

Price trumps all else. Until the next Trump tweet.