Hello Everyone,
Quick Notes: The recent uptrend continued with all the major indices posting gains today. The SPX joined the QQQ by making new recovery highs today while IWM remains just below previous highs. With today's push, we now see some negative divergence on the SPX/QQQ on the daily and 60 minute charts so continue to trail up stops and be aware that a pullback could unfold soon.
With the above comments in mind, I have added a few new long setups and keep some hedges handy as well to deploy if needed in conjunction with YOUR plan. Tonight I'm going to review many recent names as part of a more comprehensive clean up to end this week. It's been a nice week with many nice trades from the watchlist along with the SPY system winners so please don't lose your discipline and remain prudent.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 10-12 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number.
Please take a moment to look at the trade ideas.
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6/23: SPX 2 day candlestick DVT = 4107, Weekly DVT = 3970