April 12th, 2017 Watch-list
Hey traders! Another even day for the DJIA as we were able to break down below that 50sma early in the day, but managed to rally right back above it at the close. The 20sma resistance and 50sma support are now literally right on top of each-other. A breakout or breakdown of those levels will happen in the next 2 trading days most likely. Daily chart for the DJIA below with key support and resistance labeled for review.
Current Open Positions:
KLDX: Red day today for this open position. As I pointed out in the market update however, when you look at the past few days on the daily chart below, you'll notice we are trending slightly higher. My hope is we can see that continue. Next key test is going to be that $4 level. If we can break and close above that, we'll be in good position for a move into the low to mid $4's potentially. Chart below for review!