TRADING TIPS

SPY Update

Hubert Senters here. Let’s take a look at Spyder, SPY. As you can see it got a nice little selloff and we’re bouncing and now we’re trying to run out a little bit of guess. I still think it’s got more positives than negatives right here at this particular time. I don’t think we’re out of the woods buying this shaping the imagination. I think we’re going to bounce a little bit more and then probably roll back over but let me show you what I’m looking at. Number one, I’m looking at this nice little trend line here. That’s impressive.  That’s not bad. And then if you do another little drawling you go okay, if I was to drawl a triangle. But it’s pretty it looks like it’s going to go higher. Acts like it wants to break up to the high side. If you compare that to like Crude Oil we did a little triangle here and it broke down and then it went lower so let’s go back to the SPY. Now, you can see that this ones probably going to break higher. It’s got potential like $271 to $278. And then what I’m doing is I’m using the tick trader to keep me on the right side of the intra-day move so. In this example, this is the SPY, this is the 5-minute chart. This is the slower input so in this situation I’ve got a data lookback period of $231. This is going to be more like longer term hold-ish and this is going to be more active trader intra-day trading stuff. This is buying. It’s the same indicator but it looks totally different on histogram and here’s why because it’s set to $253. You can set it to whatever you want. On this one, you can see obviously — this was yesterday, that was day before yesterday so positive green here and then we rolled back over a little bit and then bounced up a little bit and down. So this morning’s action was mainly green then red, green then finished off red so it does a decent job. You don’t how to use the NYSE tick efficiently that will keep you on the right side. Always have two 60-minute charts and two 5-minute charts one is for I think longer term and one is for shorter term. I’m going to HYPERLINK you to a webinar that Mark is doing on this very thing Wednesday, April 1st at 8PM EST. I will HYPERLINK you to the registration form. Good luck. Hope it helps. See you on the next video. Hubert.

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