ETFs, Leveraged ETFs, Sector Funds
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https://www.etfchannel.com/article/201905/etf-flows-report-for-05-17-2019-xly-xlp-kxi-tfflowreport05172019.htm/ ETF Heat Maps
May 17th, 2019 Daily May 17th, 2019 Weekly May 17th, 2019 Monthly May 17th, 2019 YTD Relative Rotation Graph S&P SPDR's 5/17/19
SPX 500 Daily 5/17/19 No easy way down SPX 500 Weekly 5/10/19 Beaten back SPX 500 Monthly 5/10/19 Double top? The Ichimoku Kinkou Hyo Cloud Indicator
Ichimoku = “One look, glance”.
Kinkou = “Balance, equilibrium”.
Hyo = “Chart, Graph. https://tradingstrategyguides.com/best-ichimoku-strategy/ Metals & Energy
5/17/19 The Cloud - Favorite Plays Anatomy of a Cloud Trade GUSH 3X Bull Oil & Gas The Buy
I had been watching oil recover right along with the general market since the Christmas '18 low. It was ja nagging felling I couldn't shake that I had to be in oil/GUSH. Was I tool late? Where do I get in? The paralysis of thinking I needed to catch the absolute bottom...or nothing. Ichimoku cloud strategy has helped me to get more focused and methodical in trading. This includes incoporating other indicators/strategies to deepen my trading plan.
I use four key elements
- Different Time Frames
- Ichimoku Cloud
- 5/10 MA avarage crossovers
- RSI(14) and a 20 MA crossover
I haven't had a clear view on where to trade on the GUSH daily chart. I ended up buying based on the 30 min below. It's clearer now on the daily my nagging feeling about needing to get in GUSH. Here are my summary thoughts on the set up of the buy:
- The reversal at Christmas of the entire market became known in the last week of Dec and early Jan as every chart started showing it's V-shaped reversal
- Oil has been tracking the market generally pretty closely
- The first days of Jan showed all 3 of my indicators signalling an agressive buy.
- Jan 2nd price closedd above the Ichimoku blue conversion line - an agressive buy indicator
- The 20 MA of RSI(14) had already moved off it's bottom but the RSI(14) signal eased above the RSI itself - another early indicator
- the 5 MA of price was inching above the 10 MA
- This this was really good alignment of the three indicators...BUT I WASN"T WATCHING IT OR THINKING ABOUT IT IN THIS MANNER
Intuitivvely I knew that I had missed a signal.
The drop in the first week of Feb on the price of oil and GUSH paralled the markets drop. In retrospect, if you look at the SPX daily chart above, the drop is cought and reversed at the 9-period blue conversion line on the Ichimoku. I eventually looked more at the 30-min chart. I didn't necessarily follow the steps below but I chased an entry once I saw what the chart was saying. I still got in within a good buy zone.
- "A" on the chart was the first early signal pointing to a reversal of the downtrend - RSI(14) crossed definitively above the 20MA of RSI(14)
- "1" and "B" happend within a day of each other. "1" - priced closed above the 9-period blue conversion line on the Ichimoku. "B" - The 5 MA of price crossed aboe the 10 MA
- The first vertical line would have been a great point to buy (I wish), but...
- "2" is where the price candle closed above the 26-period red base line. AND "3" is where the 9-period blue conversion line crossed above the 26- period red base line.
- Another go signal
- I knew on the 11th I wanted in the next day
- Then I saw the futures that night and crude was going to gap up the next day
- I still wanted in and ended up buying the first pull back of the day on the 12th
- I should have known it was likely that price would pull back to at least the 9-period blue line but I was anxious. Price closed below my buy point on the 12th.
- According to Ichimoku, it wasn't until the 13th with another gap up and a candle close ("4") above the cloud that the best buy signal was given. It could have been an opportunity to add to the position.
- Or when price pulled back to below the conversion line.
I closed the trade on the 15th primarily because it hit a (fuzzzy in my mind) target of 10% or more AND I didn't want to hold over the 3 day weekend.
Simple, but much easire than where to buy!