SPY - still not seeing the strength I wanted to see in my watch-list last week. This is especially true in the smaller caps. Pre-Market gains are consistently getting faded off in the morning, making it tough for market open traders to see follow through on their momentum based gapper setups.Some points for me going into the new week:
- Wait 10-minutes after market open to find the trend and wait for market to base out
- Refrain from trading small caps if possible, stick to higher priced names that are moving off earnings & PR news this week
- Be mindful everyday of
SPY gap's & volatility- If market reverses, switch focus to TVIX & UVXY (inverse ETF's) to capitalize on the volatility and downside range of the market
- Patience, trade less (wait for A+ setups)
Have a great trading week everyone!
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