The $XLY Consumer Discretionary ETF has sold off significantly from last year’s all-time high. Now, it’s trying to hold multiple levels of measured and structural support. Is this just a dead cat bounce from oversold levels, or does it have additional upside?
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Bulls are trying to get a bit of mojo going into mid month… let’s review the SPY setup, the targets, and a couple of solid picks for next week.
Great week this week. The bulls held the line and traded straight for our upper target @ 3912 SPX. In tonight’s video I want to make a similar plan for next week.
Seeing a few things that I want to be in a position to take advantage of next week. Looks like a short USD but long Softs, Energy, and Ag’s.
In tonight’s free video I’m looking at 3 stocks picks and their most critical levels for next week.
Now that SPX is offering expirations nearly every day, trading the 0 day series has been a hot topic. There are a few ways of going about it, but today’s example gives us a chance to discuss these trades using one of my favorite butterfly strategies.
