#MarketTiming – signals…

TREND TRADE: Long from open, 11/9.

SWING TRADE: Sell from open, 12/12.

DAY/SCALP TRADE: Long bias, but possible short for day/scalp.

PRICE TRENDS: TQQQ, up 6 days, TNA up 5 days, UPRO up 6 days.

SETUP:

With SWING TRADE turning down Friday and prices on the index ETFs extended to 5 to 6 days up in a row the time has come to exit all longs on Monday’s open (ideally, but otherwise on any strength Monday).

With the TREND TRADE still up, this is primarily a pause before the next run-up until further notice.

However, there is some possibility to trade the short side either for a scalp, or a day-trade or for an aggressive swing trade.  Stop losses for each strategy and intraday time tolerances are the key to the nature of each.  In other words, as always, it’s a matter of cutting losses quickly, and letting profits run, and never letting a profit turn into a loss (i.e. using a breakeven stop once there is a trade to breakeven).

THE DAY/SCALP TRADE:

(right click on chart for a larger view)

scalpday2016-12-12_0818

THE TREND/SWING TRADE:

(click on the chart for a larger view)

trendswing_2016-12-12_0818

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