Hello Everyone,
Quick Notes: Today's action was the opposite of what transpired earlier in the week as the SPX/QQQ rose while IWM declined. Rotation continues under the surface for now. FOMC meeting next week and let's not forget about the seasonal tendencies for the 2nd half of June (typically down). Respect the trend until evidence changes and continue to follow your plan. Keep a few hedges handy as the recent pattern has been to dip a few days prior to the FOMC and then rally into
the meeting. Most of the new long setups tonight are from the tech area while the cyclicals have seen some profit taking lately.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to examine each night. Go to the Watchlist (trade ideas link found as drop down under Newsletters) page each night to review.
Please take a moment to look at the trade ideas.
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6/3: SPX Daily DVT = 4085 day candlestick chart 4065