09/28 – ETF Trading – No Trades Today

Our etf trading entry signal for shorting USO did not trigger yesterday. As such, we did not enter the trade. USO closed lower yesterday; we were looking for it to close higher than Friday’s closing price.

The broader market is in neutral ground. Notice the RSI(2) reading for SPY in the updated chart below.

We’ll patiently wait for a strong stock market move to trigger some new etf trading signals.

All of our etf trades revolve around the 200 day moving average. Why is that important? Author David Penn explains the significance of the 200 day moving average in this article at TradingMarkets.com.

All of our etf trading signals are found in the book by Larry Connors: High Probability ETF Trading – now at a really great price with the release of the paperback edition! Get your copy today and be ready for the next etf trading session.

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