Hello Everyone,
Quick Note: Today the SPX started out to the downside drifting lower into the early afternoon until it reached yesterday's lows (4450) where buyers emerged for a 70+ point rally into yesterday's gap before closing at 4501. The QQQs came down to test their 50 day MA (349) and staged a nice rally back up to yesterday's highs (356) prior to settling at 354. Range bound action and now we monitor for a range break with today's lows being pivotal.
Continue to monitor the various inverse ETF's as hedge candidates with a valid trigger.
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. Big moves tend to occur first and last hour and overnight sessions.
Please take a moment to look at the trade ideas.
