Hello Everyone,
Quick Notes: Last night Matt discussed how the bounces for the major indices were quite symmetric - price stalled and pulled back today from these levels today. In tune with the 10 year seasonality, the past 10 days have been extremely choppy (very loose trading with wide swings). Being mindful of this backdrop, it's been a more of a hit and run type market in both directions of late. This is a a time when focusing on fewer items and remaining prudent has served you
well (Less is More). For now, let's continue to remain nimble and adjust to the the message of the market. As I've stated for the past few weeks, I will refrain from forcing many new trade ideas (quite honestly many stocks are simply too loose) and attempt to post only a few valid setups to monitor. Tonight I have added a few miners to the watchlist after GDX/GDXJ posted a nice reversal day. With that said, we must see some follow thru here and even then there are
many resistance levels to deal with overhead so let's continue to take it one day at a time.
Steve
Please take a moment to look at the trade ideas.
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3/1/21: DVT 3795 for SPX, IWM 214.2