I woke up a little groggy this morning, and didn’t get out of bed until after 8:20. So, I’m a little tired, but hopefully coffee helps with that, and I don’t expect it to affect my trading.
The S&P opened above the base it had formed over the last 4 or so days, and it’s pushing down now, but that looks to just be a retest. Things look like they could be headed back to the strong side in equities. And the VIX is down a good amount.
I’ve already entered ET. I looked at this yesterday, it had been pushing up for a while and based over the last 2 days. This morning, price opened above the base, so I got in as soon as I could — I still set a limit order, and it triggered at $0.64. I’ll keep an eye on that going forward.
As for my other positions: FYBR is down again on the day, it’s remaining in that base I thought it broke when I got into this. It’s only Wednesday, so I don’t want to panic, so I’ll hold on, but if this reaches $28, or hasn’t pushed int .5R by Friday, I’ll close and maybe revisit if it looks to break this base again
ARR is down more today, so that looks good. Just waiting for the alert that 1/5 my risk has been reached so I can move my stop loss.
Other than that, let’s see what’s available.
American & Delta airlines, and Norwegian & Carnival cruise lines are all companies that come up on my screener a couple times a week. Their patterns look okay — I’d be trading a lot of them right into resistance — but primarily, we’re heading into Summer soon, and the travel season should help those. Now that I’m thinking through it, though, that’s a very American-centric view. They’re all global companies, and summers happen at different times at different parts of the year. I don’t think the American travel “time” will actually affect things too much, and if they did, it’s already priced in. Trust the price action