What a day.
We went from SPX lows at 3,491 to a close at 3,669. It was nice to be up over 2% versus being down 2% for a change.
We have a huge engulfing pattern in the indices. Now I’d like to see the eight-day moving average continue to hold roughly!
I’d like the SPX to hold in the 3,650 range and the $SPY to hang onto 364ish. There’s a chance we back-fill some.
Today’s trades:
- I bought $BABA at 72.60 and sold it at 73.50.
- I bought $VTI at 175.5 and sold it at 176.29.
- I bought $ORCL at 64.03 and sold it at 64.50.
Here are four setups I recommended in the live trading room today:
- $MS long at 75.50;
- $XOM long at 99;
- $INTC long at 25.40;
- and $BA long at 126.50.
A few of the banks are reporting tomorrow morning. I think this can set the tone for the day possibly.
We’ll see you live at the open on Friday to start the trading day.
All Star Charts Team