These Diamonds Showed Some Edge
When we get into pre-holiday trade and
liquidity dries up, I find myself gravitating towards the index proxies or ETFs. ETFs
stand for Exchange Traded Funds. The Nasdaq 100 is represented by the
(
QQQ |
Quote |
Chart |
News |
PowerRating),
the S&P 500 equivalent is the
(
SPY |
Quote |
Chart |
News |
PowerRating), and the Dow Jones Industrials is
represented by the
(
DIA |
Quote |
Chart |
News |
PowerRating). The volume, like most equities, will tend to
shrink during this time, but by most people’s standards it’s still highly
liquid.
Of course I still need some kind of definable
edge in order to qualify the trade for our members, but fortunately for us, it
usually happens every single day, even during the dog days of summer.
11:51:58
Intraday
Setup Alert
The Diamonds (DIA)
are setting up in a potential intraday 1,2,3 reversal
pattern. The 3 point has yet to be established, but with session lows, and the 1
point finding support off the 20-Day EMA thus far, we are looking for pivot lows
to complete the pattern. The Diamonds are down .52 at 93.19.
12:26:49
Intraday
Update
The Diamonds (DIA)
have triggered out of a 1,2,3
pattern. The 3 point pivot low was established with the 12:15 bar on the
5-minute chart. The Diamonds are down .51 at 93.20.
It might not be a ‘Vita Jones Dividend
Reinvestment Plan’, but I think that you might enjoy trading these kinds of
intraday setups even more.