ETF Trading Research 5/8/2019

Today was a good morning followed by one of the slowest markets I’ve seen in a long time. No action to trade at all. I could have called TVIX for end of day but chose to stay out.

We were up a decent amount with our longs but that 2900 level is still resistance and we sold with about 2.5% profit on everything for the day, including our overnight holds where only LABU was down.

LABD turned to a buy with that move but we profited from LABU because of the markets trending up in the morning.

Metals and miners started higher but we didn’t chase and now can pick up lower again it looks like when the time comes.

UGAZ did take off after about a week of consolidating. We should look to go long possibly tomorrow with the DGAZ sell signal.

BZQ turned to a sell giving BRZU a good day and possibly a bunch more if we break /ES 2900.

Futures down 4.75 as I type to 2882.50  and that’s what we want to see if we are going to jump long again.

By Friday I think we break 2900 with a trade deal no matter what shenanigans go on tomorrow.

From there we will shoot for 2950.

On the downside, a break of 2870 and we should be looking short with TVIX and some others.


Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt
0

Start typing and press Enter to search