Hello Everyone,
Quick Notes: Mixed day for the market with DOW/SPX closing fractionally lower while the QQQ/IWM managed to close fractionally higher. Ho hum inside day type action in front of tomorrow's large Option Expiration. Energy is building with ES (SPX Futures) trading in a range of late 4425-4480. Do we get a push to shake weak shorts and then reverse after forming a lower high? That's one option that I will review tonight below. Keep in mind that we have the all important FOMC meeting next week - remain nimble.
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.
