Nailed It

I know it’s a bit uncouth to brag, and perhaps it’s still a little early.  But even I am impressed with the systems entry yesterday.

I am long at $73.08 in the QLD (Nasdaq ETF).  My last trade, having sat out the entire fall was Long QLD $85.73, exiting at $89.52 a few days later on March 13th.  The market has done nothing but fall since then.  And I have had to be patient and wait for a bottom signal ever since.  My last Futures trade in NQM18 was equally impressive. (As is it’s current entry point)

Now it looks like the systems have just scooped at least a short term bottom.  Both systems look like they are in for a multi-day move higher.  I don’t just say this in hope, it is based on statistics and trusted indicators and tools I have used for over 10 years.  When it works well, it can be truly dazzling!

So enough bragging…Let’s talk about overnight.  What a wild ride.  China increases it’s tariffs without putting a date on their implementation.  This caused a 40 point drop in the S&P around 4-5am.  When the panic settled, Trump’s tweet was actually quite funny:  Referring to a possible trade war – “When you’re already $500 Billion DOWN, you can’t lose!”…funny!

Anyway, it was dicey this morning, but unexpected news has a way of shaking out the weak hands and then going back in the direction it was already headed. I had noted that I expected a trend up day this week, well I got my wish right away today.

That being said, nothing will humble you faster than the stock market, so my feet are on the ground and vigilant, but this is looking really good for a swing higher, how high is anyone’s guess, but GREED is back!

Good Trading,

John