05/21 – ETF Trading – IWM, UWM

Good morning. Quite a sell-off yesterday. IWM moved lower yesterday and you took your second position in the etf trade. The same for the leveraged etf trade in UWM.

Should IWM and/or UWM close lower today, take your third position in the trade. Otherwise, our etf exit signals are triggered when the etf price is greater than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70.

The broader market is turning bearish – SPY has closed below it’s 200 day moving average. All future trades in SPY may be short trades.

Updated charts posted below. All trades are at the market close. Please trade responsibly! Have a great weekend.

Join me everyday to follow these etf trading signals. All of the signals and strategies I use for etf trading are found in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.

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