December 15th, 2016 Watch-list
Evening gang! Another wild day for the market as we saw the Feds raise interest rates. Following the rate hike, we did see a selloff occur in both the DJIA and S&P 500, though it was not a major selloff. We'll get a better feel for how traders and investors feel about this hike tomorrow and Friday. In the meantime, the selloff did help to move a few of our current plays in the right direction (discussed below). Below you will find the DJIA daily chart with key support and resistance labeled.
Current Plays on Watch:
SDOW: With the DJIA heading down today, we saw this one go up and give the daily buy signal. We do not yet have the 15 minute buy, so if the DJIA continues to head lower tomorrow, keep an eye out for that 15 min buy to secure your entry.
VIX/VXX: We saw $VIX continue to trend higher as we saw the market come back. VXX will follow suit if this trend continues. For those who have options in VIX still, if we can see another day or two of topside moves, look to exit those contracts.
SPY/SPXS: We saw SPY head lower by .83% today, along with SPXS rising 2.31%. We recieved the 3/4 SPY sell signal, now we just need to see the 15 min buy in SPXS to secure an entry. Keep a close eye on it, especially if the market heads lower early in the day.
AMRS: Nothing new to report on this one. Still watching for the buy signal. One thing to point out, though we have been trending higher when you look at the entire 6 month chart, we do have descending resistance in the short term, and that is why our initial target is $0.90 and not higher.