SST Commentary

SST Commentary

6
Feb 2019

Strategic Stock Trade For 2/7/2019

posted in: Uncategorized

Strategic Stock Trade

 

SST Email For 2/7/2019

The markets traded lower on Wednesday, barely, as the SPY traded its lowest volume since 11/23/18.

I still think the markets are setting up for something nasty to happen on the downside.

We cannot continue to drift higher on air without a downside surprise occurring.

 

Lets look at the SST Charts:  The monthly NH / NL chart continues bullish as the other 3 time frames that we track are having a difficult time breaking out to the upside.

Please take a look at the Weekly NH / NL chart that is attached.

It continues to make lower highs on a year-over-year basis.  That is significant for our strategic decision making.

 

In addition, the S&P 500 has not made a new high since the December 2018 highs.  We continue to make lower highs even though the market has ramped higher over the past month.

Another significant observation.

 

I added to mu UVXY long position today.  With a red open tomorrow, the UVXY will be extremely oversold on the daily time frame.  I will continue to add.  Always leave yourself ammunition so that you can add to positions as warranted.

I sold my JNUG and covered my NFLX from yesterday.  They were only trades off the hourly time frame.

 

The SST Daily Index Numbers Closed Trading As Follows:

 

NAZ = 91.64

DJIA = 96.99

IWM = 95.7

S&P = 93.05

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