Click here for Signal Trades spreadsheet. Updates 12:40 AM EST - Thursday 9/16/21 Dip is most likely done for now Our inner bull would have loved to see the capitulation pattern that we've been describing for $VVIX. Alas, $VVIX is not showing it. But $VIX $VXN $RVX are all forming short-term tops, as shown on their charts below. Also, market breadth is improving for both NYSE and Nasdaq, and the equity put/call ratio is declining a bit. So we are proceeding with the assumptions that the monthly biggish dip is done for now for $SPX $NDX IWM, and use appropriate risk management in case we are wrong. Short-term Support and Resistance Levels The key S/R levels for this week are still the same. Signal Trades As mentioned above, we are proceeding with the assumption that the dip is done, but we have to manage risks in case we are wrong. So we will initiate 2 positions. Big Bull: Enter at bottom of dip, ride until about mid-October. Quick Bull: Enter at bottom of dip, take quick profit at S1. Repeat Quick Bull trades as price rises. We've explained our strategy regarding our new bullish positions in details in the spreadsheet. The important thing to note is we want to see a retest of Wednesday low. Click here for Signal Trades spreadsheet. To Read We urge you to read this article about risk management and position sizing. 1% Risk Rule If you are new to trading 3x leveraged ETFs like TQQQ TNA SOXL FNGU, read: Why 3x ETFs like TQQQ lose money over the long term If you are new to trading inverse ETFs like SQQQ TZA SOXS FNGD, read: The risks of investing in inverse ETFs Disclaimer The information presented here is our own personal opinion. Consider it as food for thought. We are not offering financial advice. We are not promoting any financial products. We are not registered financial advisers or licensed brokers. We make no guarantee that anything will unfold according to our projections. You are proceeding at your own risk if you follow our suggestions.
2 Comments
Jake
9/16/2021 01:19:06 pm
Good calls with tna and tqqq. are you holding tna overnight?
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Ann
9/16/2021 01:31:26 pm
Hi Jake. Tthank you! Yes we are holding TNA overnight Please check spreadsheet for updates
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