October 11th, 2016 Watch-list
Overall Market Outlook
The overall market continues to be indecisive, as it has been for the past few weeks. Until we can see a solid break above the 18668.44 high, or a break and close below the 18,000 level, I won't feel too confident. Overall, I still feel fairly bearish bigger picture. The upside is limited at this point. Below you will find the daily chart for the DJIA with key support and resistance labeled!
Current Plays on Watch:
Our USO DRIP/DWTI play appeared to be ready to reverse Friday as it showed a strong daily and 15 minute signal, however we saw oil rally higher today which pushed DRIP and DWTI down. If in either DWTI or DRIP, your protective stops should have been executed. This is the exact situation we had last time we targeted USO. It gave the false sell signal, ran higher, then finally came back. With that in mind, we'll keep both DRIP and DWTI on watch with the same strategy going forward! All 3 charts are below for review.
Update on Service Going Forward:
First off, I really want to say thank you to everyone for allowing me these last 3 weeks to be with my wife and our new baby boy. I really appreciate everyone understanding and all the kind words! With that said, I'm excited to not only get back into things, but to add some new elements to the service that I feel could really help all of us. First and foremost, we'll continue to do written watch-list for now, but I'll be looking to add in video watch-list here and there in the next few weeks. Secondly, the goal was to add a chat-room that could serve as a hangout for all Elite Members in the beginning, and something that can be grown into more in the coming months. That chat room is built and almost ready to go! Over the coming days, you all will receive an email with instructions on how to access the chat room, a list of "rules", and so forth! Third, our focus here is education. Having the chat-room allows us to provide even more educational content for everyone. I'll be working over the next few weeks to build a schedule of "guest" speakers that will do live webinars for us going over different brokers, scanning software, and so forth. All of these webinars will have the single goal of helping all of us as traders improve. All of the webinars will also be recorded and available for later viewing. So again, thanks for allowing me the time off with family, but I'm really excited for where we're headed! Have a great night everyone!