April 3rd, 2017 Watch-list
Hey traders! Small red day for the market Friday as the DJIA pulled back 65.27 points. We've been seeing the market hold a small sideways pattern the past 3 days. We're about to run into the descending 20sma resistance and we have the 50sma coming up beneath us on the daily chart as support. Will be a key point here to see if we are able to ride the 50sma up and above the 20sma, or if we breakdown below the 50sma. We'll analyze day by day to see what that market tells us going forward. We did see UFS end up turning against us late last week and hit our protective stop loss. Daily chart for the DJIA below with key support and resistance labeled for review.
Current Open Positions:
No current open positions.
Current Stocks/ETF's On Watch:
KLDX: We ended up receiving a daily buy signal on this one Friday. At this point we're looking for a higher low to form on the 15 minute chart with the 15 minute buy signal. With the 15 minute chart settling into the close Friday, we could get the daily and 15 minute buy signal early tomorrow. Keep on watch.