Good day,
Indices closed on new daily high. The QQQQ reached previous weekly/monthly high, while the DIA still have some room for it. The SPY need first deal with weekly 200sma resistance area. For now we can just say that indices continue with upside action. The QQQQ daily CCI is above +200 what overbought area is so maybe we could see some correction. I hope I was clear in previous commentaries. I’m not interested for new long trades and until I won’t see intraday reversal pattern I’m not interested for new short trades too. For me Wednesday was day for patience. I will do same if market will continue with same action. October is reversal pattern and I still think that we will see it, but I’m not ready to sell every top because it is too risky, so I will just wa it signal. Until then focus will be on cash or scalps. All updates will be in live trading room.
Watch ideas:
Long ideas:
Short ideas:
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DT - day trade
ST – swing trade
PT – position trade
DT-ST – starting with day trade and can turn to swing trade
ST-PT – staring with swing trade and can turn to position trade
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If you have any questions, please feel free to contact me.
Good luck trading today!!!!
Ivica Juracic
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