Looks like the SPY is set to open strong today. Maybe it has something to do with Trump extending a lifeline to Huawei. Nevertheless, I don't think we're out of the woods just yet. The SPY is still trading within a range (within a larger range), so I continue to expect choppy action from here. I should be quick to take profits when I can.
I added some new names on my watchlist and post some screenshots of those that I like below. In particular what I'm looking for is strong relative volume in the first 15 to 30 minutes of the open as well as strong price action.I will trigger the trade by then.
EHTH - Nice ascending triangle setup right here. watching for a break of that horizontal line. But strength in this formation is enough of a trigger for me.
NWL - Similar triangle setup forming a nice flag with potential to break that gap high back in May. I'm buying on strength of volume and price at the first 30 minutes of the open.
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