May 4th, 2017 Watch-list
Hey Traders! Small green day for the market today as the DJIA closed up by 8.01 points. Still remaining neutral on the market here. We're not getting enough movement one way or the other at this point to feel confident in targeting some heavily market related stocks and/or ETF's. Daily chart below with key support and resistance labeled for review.
Current Stocks/ETF's on Watch:
NUGT: Strong move on this one early, however we did settle down to close out the day. Keep on watch tomorrow. If we can get another nice move topside, we could get that daily and 15 minute buy signal that we need. Full chart breakdown below with support/resistance labeled, buy criteria, profit targets, and stop loss strategy.
UWT/USO: Both of these appear to be settling for us following today's trading session. We'll want to watch and see if we can start to see these two begin to make a move topside. That's when we'll start to watch closer and focus on getting those buy signals.