ETF SWING & DAY TRADING

[northam43]

Stock Charts Daily RSI(5) at 63.1. MACD(12,26,9) at -7.83.
I'm still Long. I still believe the RSI(5) will hit 70 before going back to 30. We are very close. With the big white candle we had yesterday, I would have thought there would be more upside. However, it looks like the market is weakening as indicated by the MACD(not looking very strong for much more upside). If the RSI(5) hits 70 at the close, I will probably initiate a short position unless the MACD looks stronger than it is now. However, if we don't hit RSI(5) 70 and the market continues to weaken, I will probably take some profits off the table but remain Long, because we more than likely will go to RSI(5) 70 before 30. We may just get a pull back before the final drive to 70. If we fall under RSI(5) 50 I will add to Long position.

That is my game plan today.

Good Trading to ALL.

Lindy