ETF SWING & DAY TRADING

[CaribbeanJim]

Hi euterpe1 - Yes, this looks like we may get a retest of the bottom as the mid-BB was exactly the resistance. If the previous bottom is tagged, wait for a major bullish candle to appear with increasing volume (it is OK for the retest to close below the previous bottom...in fact, it is very common). That is a very safe day to start a major long position as the weak bulls are now gone.

In fast moving markets like these, the weekly charts are very helpful. As long as the major moving averages are aligned bullishly the bull is still intact.

I think REITs are still playable technically on the short side, especially with all the negative news. Use your favorite indicators to look for a roll-over on this current run. My indicators are saying 1-2 days away from starting my REIT short again.