22 Apr, 2019

Trade of the week 4/22/2019

I don’t really like what I’m seeing in the market today and I’ll probably hang tight and watch things develop. We are very near all time highs in the major indexes and the market seems to be moving slower. RSI is high overall. There isn’t much momentum in these conditions.

My goal for today is to get out of the TEN trade from last week. I did not realize that the market was closed on Friday for good Friday, so i did not exit the trade on Thursday.

If the market rolls over today, I may look to buy UVXY into a pullback. If we breach all time highs, this would be a bad idea.

Happy Trading!

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