This is a strategy you should learn
Kevin Haggerty is a full-time professional trader who was
head of trading for Fidelity Capital Markets for seven years. Would you like
Kevin to alert you of opportunities in stocks, the SPYs, QQQQs (and
more) for the next day’s trading?
Click here for a free one-week trial to Kevin Haggerty’s Professional
Trading Service or call 888-484-8220 ext. 1.Â
The SPX traded
lower from the opening, then went sideways
until game time for the Fed’s expected announcement, which has been pre-hyped by
the media since the last one as if it would change the market on a dime.
Daytraders caught the long side of the artificial futures-induced reaction when the SPX traded down to the 1276 minor support zone in conjunction with a
tradable volatility band.. Of course, the futures turned immediately and the SPX
traded back up to 1285 before closing at 1280.90, -0.4%. The Dow closed at
10,865, -0.3% and the QQQQ, -0.5% to 42.00, while the Nasdaq was almost
unchanged. NYSE volume expanded into month-end to 1.96 billion shares with the
volume ratio neutral at 43 and breadth +271. Gold continues its run with the XAU
+3.0%, while the downside leader yesterday was the SMH at -2.2% with some late
selling.
The energy stocks were trader-friendly yesterday
after the early weakness in the first hour, which setup Trap Door entries at
volatility band levels for some excellent intraday gains. There are also some
RST setups in a few energy stocks, and that is a strategy one should learn as it
is used in all time frames. It doesn’t matter whether you are a long-term
investor or a daytrader (Sequence Trader module,
Trading with the Generals IV).
Expect some new February money and reallocation
activity for the rest of this week, so there will be some trading volatility to
take advantage of.
Have a good trading day,
Kevin Haggerty