08/19 – ETF Trading – SPY, SDS

The broader markets moved ever so slightly higher yesterday. SPY closed higher yesterday and you took your first short position in the etf trade. For the leveraged etf trade, you took your first long position in SDS. Updated charts are posted below.

Our entry signals for FXI did not trigger as FXI closed lower yesterday.

As mentioned yesterday, we’ll scale in with up to three 3 trading positions. So, take a second short trading position should SPY close higher today. Otherwise, our exit signals for SPY are triggered when the etf price is less than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is less than 30. Trade SDS long on the signals for SPY.

All trades are at the market close. Please trade responsibly.

Join me every day as I offer new etf trading ideas for you to follow.

Updated charts:

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