Hello Everyone,
Quick Note: The SPX/QQQ attempted a rally today with prices gapping up on the open. However, the rally was short lived with the highs made during the first hour of trade to be followed by a steady move lower which took out yesterday's lows and closed near the intraday lows. Keeping things simple, both the SPX/QQQ continue to make lower lows and lower highs - this needs to change to get a reversal that sticks which would target some upside gap(s). Onus remains on the bulls as we enter reporting season. JPM tomorrow.
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. Big moves tend to occur first and last hour and overnight sessions.
Please take a moment to look at the trade ideas.
