January 25th, 2017 Watch-list
Hey traders! Nice green day for the markets today with the DJIA gaining 112.86 points! We're still holding in the same consolidation phase we have been in for some time now. A break below the 50sma or a break above 20,000 could signal a break out of the current pattern. Daily chart for the DJIA below with key support and resistance.
Current Plays on Watch:
SDOW: Open position here. With the DJIA posting a green day, this one saw a red day. Keeping this one as a market hedge for the most part for now. Chart below for review.
New Plays to Consider:
At this point I have my eye on UAA for a potential re-entry, however I want to see how it handles earnings first before entering. Earnings are on the 31st of this month. Once earnings come and go, expect a full chart breakdown with our strategy if this play is a go! Remaining light overall at this time.