Hello Everyone,
Quick Comments
: The market has had a nice rally from last week's Thursday morning lows with the Russell 2000 leading (basically playing catchup). Today we saw the major indexes only post small gains as short-term the market is quite overbought here with some negative MACD divergences showing up on 60 min time frames. The SPX has tagged the much targeted 4500 area (which was a target of many techncians), and there's a possible turn window. I added SPXU to monitor as a hedge, otherwise I added very few new long setups this evening. That said we've had some fantastic trade setups here, I hope you guys have been catching some of these! Today I also sent out a video discussing how to set your trade position size based on your risk tolerance.
CLICK HERE to watch the video
FED Watch - 3-day mtg 8/26 - 8/28. Fed chair speech Fri 8/27 10am ET. Jackson Hole Speech on Friday
Matt
