Trading Watch List 2.12.2018

Sayed
Zaman
February 11, 2018
How to trade stocksbows-opengraphTrading-Watch-List

Another volatile day in the Market.

I wrote about another shake out and finally we had that shake out. SPY opened higher, failed 100 MA resistance then went below our 258.60 level, broke 200 MA , took out some stops and then an expected sharp bounce. Our game plan from blog worked out well, watch list names like SQ,NFLX ,WYNN gave nice short opportunities. UVXY gave a quick red to green play. If you follow me on Twitter, we also caught the bounce via $TQQQ, $TNA, $LABU. While $UVXY was making new high, technology ETF, biotech XBI was not making any new low, creating what's called a divergence. Often time divergence crates powerful reversal of trends, so we basically bought basket of ETF's via $TQQQ, $TNA, $LABU . Check out the bounce trades from Friday below.[caption id="attachment_48364" align="alignleft" width="950"]

Volatility UVXY making new highs.[/caption][caption id="attachment_48366" align="alignleft" width="950"]

Technology ETF no new low and a double bottom look.[/caption][caption id="attachment_48365" align="alignleft" width="950"]

Biotech ETF, no new low and a nice flag.[/caption]So 200 MA on SPY now major support and 100 MA resistance. Bulls needs work on a few day of bounce and test some overhead MA/price resistance here in an oversold market. Given how violent this correction has been it is hard to say that Market has seen the lows, "V" shape bounce has been replaced with "V" shape correction. But few days of bounce would sure be nice. I am mostly sticking with trading ETF's now,awesome range on those in a volatile market and they are 1st one to fall and rise.

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ATRA From blog, strong relative strength. See if it has more.[/caption][caption id="attachment_48371" align="alignleft" width="800"]

ARNA Strong relative strength. Keeping an eye.[/caption][caption id="attachment_48372" align="alignleft" width="800"]

ATHM Watching for descending channel break on 50MA if market holds.[/caption][caption id="attachment_48373" align="alignleft" width="800"]

NFLX Our 20 MA break short worked well. Now needs to get over 20 MA and stay there for a bounce.[/caption][caption id="attachment_48374" align="alignleft" width="800"]

NVDA Watching over 239 for a move higher.[/caption][caption id="attachment_48375" align="alignleft" width="800"]

RIOT Watching over 20 MA for a pop.[/caption][caption id="attachment_48376" align="alignleft" width="800"]

SNAP Watching over 19 for a pop.[/caption][caption id="attachment_48377" align="alignleft" width="800"]

TWTR Holds up well. Watching over 31.70 for a pop.[/caption][caption id="attachment_48378" align="alignleft" width="800"]

WTW Strong relative strength. Holding breakout area. Needs to hold and build here.[/caption][caption id="attachment_48379" align="alignleft" width="800"]

SQ Our 50 MA break short worked well. Back in range. Needs to get over 50 MA for bounce.[/caption]

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