Kevin Haggerty, Author at Trading Markets

DIA Failure At Resistance Provided Profit For Daytraders

So far, so good for daytraders in the month of July.

Daytraders caught a good move on a reversal of the SPY 50-day EMA at 119.37

Longer-term equity exposure has been reduced to under 40%.

Keep your powder dry unless there is a defined setup.

The QQQQ remains a primary daytrading focus today

The SPX still remains in positive position, despite the -1.9% move on Thursday and Friday

…and that is why the basic materials, industrials and transportation stocks are most often early red alerts.

If the major indices remain flat today, make sure you are scrolling for those “Above the Line” focus list stock setups.

The three-day retracement has been on declining volume, which is a positive…

The bias is to the long side on any weakness into month-end

The market action on Friday was heavily weighted to Triple Witch Option Expiration

The market action around a major option expiration like June usually means lots of random price movement