EOM 5.17.16 “Trading Tuesday” HDGE

Good Evening,

Wash rinse, repeat.  It is not uncommon for the SPX to be up 200 pts., and down a similar amount the next day.  Today’s Bearish action kept the possibility of a Head and Shoulders pattern intact-data from Stockcharts.com.
Per my chart, the SPX neckline is around 2040 and 17 for the $VIX.  Here is an idea.  If planning to go long any of the Inverse Index Funds, set (alerts or alarms) with your online broker to let you know if/when either neckline area is broken.  
 
If a Simple Simon Buy Signal is generated, place a bracket order with a buy limit and trailing or hard stop.
 
For those buying AAPL yesterday in accord with Mr. Buffett-how is that working out?  I used my new “Playbook 2016-Trading Template” with this chart.  See anything that is close to a Simple Simon Buy Signal?  If so-let me know.
 
A Special thanks to student Mike P., for sending this column, on the Exodus of Equity Funds from the market-the past five weeks. 
Tonight, I re-feature HDGE-their profile from Yahoo Finance.  This can be an excellent candidate to consider for those that can not short in their retirement accounts.  It is NOT leveraged.
 
Key Points…
1. I highlighted the previous rallies-blue boxes and the current rally-red box
2. Previous S-support areas on the SPX are highlighted-blue lines
If the SPX breaks down through S-support, look for the rally with HDGE to continue. If not, it will fall back to previous S-support above $10…wash, rinse and repeat.
 
Tomorrow, we return to the SPX Leveraged Bear Fund$.  
 
Enjoy your evening!
 
DOE
When your Vision and Goals are Clear-Results will Appear!
This information is for Educational purposes only.
It shall in no event be construed or interpreted as an offer or recommendation to buy or sell securities of any kind.
 

David England has sent you a SharpChart snapshot from StockCharts.com:

a SharpChart snapshot from StockCharts.com

Comments from David England:

Learn more about StockCharts.com!

copyright (c) StockCharts.com
This email was sent to eyeonthemarket@outlook.com, by thetraderseye@gmail.com. If you think that you have received this chart in error or to report abuse of our emailing feature, please contact support@stockcharts.com.
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *