Fast Facts About the Index Charts and My Dip Buy Points. $SPY $QQQ $IWM

Fast Facts About the Index Charts and My Dip Buy Points. $SPY $QQQ $IWM


  1.  The long term uptrend in the stock market is still in place.

  2. This is not the stright up parabolic move of 2013 where the 5 day ema and 10 day sma worked as a trend filter. This year indexes are trading in a wider range with the 21 day ema and 50 day sma are the key lines to watch for pull backs and swing long entries.

  3. This is a fast market and requires buying dips fast, there are no follow through days either way, quick retracements then bounce backs are fast. Rarely are we even down two days in a row.

  4. Short side traders have been getting hurt when they short into weakness right before a snap back or try to short strength and the market goes yet higher. Swing trades from the long side have the best odds for success.

  5. $QQQ is the strongest index and $IWM is the weakest.

  6. $IWM has met resistance at both the 21 day ema and the 50 day sma last week.

  7. Buying $IWM at the 30 RSI would be a very high probability long if we get there.

  8. Buying $SPY at the 50 day sma is a very high probability long set up if we get there.

  9. $QQQ at the 21 day is a high probability set up if it dips again.

  10. With all the headline risk with Ukraine and Israel and volatility expansion we may get some of these levels, we’ll see.

Fast Facts About the Index Charts and My Dip Buy Points. $SPY $QQQ $IWM

Fast Facts About the Index Charts and My Dip Buy Points. $SPY $QQQ $IWM

Fast Facts About the Index Charts and My Dip Buy Points. $SPY $QQQ $IWM