...followed by sideways trade with a good deal of potential range used up in that first hour. Internals remain strong by all metrics. SPY price has been stalled at its 38% retrace (roughly), although the QQQQ and IWM have been able to maintain up-slopes and all three VWAPs remain positive. I think this can move higher, but have taken a little off the table to reinvest on noise and am trailing ATR stops all around. At present, I consider all longs as trades only.
Jeff Pietsch is a registered investment adviser in the State of Washington. The adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.
This blog is for educational purposes only, and nothing herein should be construed as an offer to buy or sell, or as a solicitation of an offer to buy or sell securities, or to provide individual investment advice. Investing is risky and past performance, whether actual or tested, is no guarantee of future results. The author neither endorses nor warrants the content of this site, any embedded advertisement, or any linked resource. The author or his managed funds may hold either long or short positions in the referenced securities. Republication rights must be expressly granted by author in writing. Astrices (*) indicate a compensated hyperlink or product reference. Author is the sole owner of the "ETF Rewind," shares in the proceeds of "DV_indicators", and may exchange services in-kind with participant contributors.