Hello Everyone,
Quick Notes: Bifurcated market today with some money rotating out of QQQ/XLK and into cyclical stocks (XLF/XLB/IYT/XLE). The SPX is still holding support (ES 4410) and grinding higher. For 9 weeks in a row, the SPX/ES has made a new high which is obviously not sustainable but until a key support is lost we have to respect the trend. Big upside resistance lies around 4480 ES. Remain prudent and continue to monitor in conjunction with your plan. Take trade ideas one day at at time.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 10-12 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number. Lastly, it's best to wait at times for valid setups to form - sometimes less is more.
Please take a moment to look at the trade ideas.
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