TREND TRADE: Long from open, 11/9.
SWING TRADE: Buy from open, 12/14.
DAY/SCALP TRADE: Long bias but short scalp possible..
PRICE TRENDS: Down 1 day.
Failed to post this yesterday due to time conflicts but for the record this is what was.
Although the longer term remains bullish, market breadth gave an ominous short-term warning of a possible dip in the market (which was posted, see below). As a result there were no day-trading stocks to buy and in case the dip might become a tumble, stops needed tightening on swing and longer-term positions to preserve profits according to one’s own risk tolerance.
Scalps would be easiest on the 3x-leveraged ETFs: SQQQ, TZA, SPXS and for the those addicted to the wild and one-day crazy, UVXY (today’s move featured below).
(right click on the chart for a larger view)