Hello Everyone,
Quick Note: Yesterday we saw a bounce in the major indices back into resistance area (supply zone). Early on today the SPX made a quick probe higher which was immediately rejected while the QQQ gapped down and trended lower the into the afternoon before a late bounce (barely had a pulse today after yesterday's relative strength). Semiconductors and semi equipment makers (see AMAT) are experiencing distribution while money is rotating (hiding out) in defensive sectors like XLU, XLP, XLV. More in the audio tonight.
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.
