Hello Everyone,
Quick Notes: The SPX/QQQ closed higher while IWM closed lower. Once again today, we saw big tech lead with the QQQs making new highs. However, today's breadth was quite weak again with decliners outpacing advancer 2:1 in all the indices. Lately this rally has been quite narrow. Further, the number of new lows on the Nasdaq exceeded 400 today (with the Nasdaq near new highs).
I said on Tuesday, I was not seeing many valid long setups and boy what that the truth - but we did catch a few nice short trades.
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. Lastly, it's best to wait at times for valid setups to form - sometimes less is more.
Please take a moment to look at the trade ideas.
