November 17th, 2016 Watch-list
Evening traders! The last 3 days we've seen the market stall out a bit. For the last 2 days we've seen the DJIA post potential hanging man candles as well. We're also seeing the daily indicators begin to curve down as well. This could be a sign that a pullback is coming. With that said, anything can happen so we need to proceed with caution! Below you will find the 6 month daily chart for the DJIA with key support and resistance labeled.
SDOW: We've seen SDOW appear to be set a base the past few days as the DJIA has stalled out topside. If looking to enter, keep an eye on those daily indicators. Once you see a 3/4 daily buy signal, look to the 15 minute chart for a higher low to form. That is when you will look to enter, as the price begins to move topside off the 15 minute higher low.
High Risk/High Reward Lotto Play LABD: As we discussed initially on this one, this is a very high risk/high reward trade, so go in with caution and consider going in small capital wise if not already in. At this point we do have a daily buy signal intact. Getting an entry on the 15 min chart was a little more tricky since we did see a small gap up. Some took entries as the price moved off the higher low at $13.55 once it broke back above the open of the day, $14.05. If you are one of those people, make sure to have your stop locked in! If you're still looking for an entry, I wouldn't chase this one above $15.50 at this point.