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! 


Current Stocks/ETF's On Watch: 

Still remaining light for now. Too much uncertainty with the market. I want to see a clear break above or below the 20sma or 50sma before we move into too many new plays. This is part of swing trading though. You'll have light periods and more active periods. Remember, you can always be scanning and finding your own trades as well. Just because I have nothing on watch doesn't mean you have to too. You can always send me any trades you're watching for review and feedback as well!