ETF Trading – USO, UCO, EWH, IWM, UWM

Markets rebounded yesterday, and look to rebound this Friday, based on morning futures (7:30am).

For those who are playing the USO / UCO trade, looking for the RSI(2)>70 signal, we’re patiently waiting for our exit signal to trigger. Recall that earlier in the week, traders who exited on the (MA)5 signal made some nice gains.

For EWH, you took a small gain yesterday as the closing price moved above the (MA)5. If you’re waiting on the RSI(2)>70 signal, you’re still in the trade.

Finally, for IWM / UWM, we’re patiently waiting on our exit signals to trigger.

All of these trades are based on the strategies found in the book by Larry Connors: High Probability ETF Trading. All trades are at the market close.

Have a nice holiday weekend!

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