June 20th, 2016 Watch-list

     Evening traders! Just getting back from being out of town so wanted to at-least get a quick watch-list overview written up! Won't be adding any new plays at this point, but will be watching to see what the market does early this week. We've seen the market let off a little steam and come down, allowing those daily indicators to also settle back a bit. We also saw a potential shorter term hammer candle form as well on the DJIA. This, along with the indicators, could be a sign that we may see a push back towards the 18,000 level, however I don't want to put us too much at risk at this point until we receive further confirmation. Below you will find the daily chart of the DJIA with key support and resistance labeled. 

 

Current Below $20 Plays: 

DGAZ: We saw this one start to make a solid move Wednesday and Thursday, however we did get a minor pullback heading into the weekend. All who are in, make sure to have your 1/2 R/R ratio stop losses set. This is a 3x inverse ETF, so it will move quick up and down. Hopefully Monday we can see this one move back into the green. Next key break, $9.61 which was the high for Friday.  

 

SPXS: We've seen this one make the 3%-7% move we wanted, so most should be out for profit who did trade. If still in, look to lock in profit! 

 

Current Above $20 Plays: 

SAFM: We've had some mixed success on this one so far. We did set a hammer candle Friday so hoping this can serve as a sign of a reversal back topside. Next key break, $82.43. Have your 1/2 Stop loss set if in.