Hello Everyone,
Quick Notes: A mixed market today with the DOW/SPX/IWM closing lower while the QQQ managed a small gain. The SPX began the day with a minor push higher into a supply zone and with overbought conditions stalled and began to pullback. Market breadth was poor with decliners easily outpacing advancers. Small caps lagged today but overall pretty mechanical day after the recent move. The SPY system exited on the close - another nice trade. Today felt like a summer
grind with prices unwinding some after the recent advance. Mixed results from last Thursday's trade ideas with a few decent winners and today we managed to catch a nice entry on AMC as the meme stocks were back in play. Upon quick review tonight, I'm still not seeing many objective setups and thus will only add a few new ideas. Keep handy some hedges if needed and deploy in accordance with your plan (TZA proved fruitful today).
Please take a moment to look at the trade ideas.
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5/20: NEW SPX Daily DVT = 4060, 2 day candlestick chart 4065