If I were going to day trade a long leveraged market ETF into the close, it would be the QQQQ/QLD or other leveraged log on the Q's. They haven't put in a serious positive divergence, but they didn't fall apart either like the DIA and the SPY, so there's where the afternoon strength should be if it indeed manifests, which I think in the Q's case is probably likely.
The Dow and S&P are most likely feeling the weakness from the financial sector.
Once again, FAZ is holding support and is in a zone of lower risk/higher probabilities, meaning I like it here and considering the financial weakness, it may be worth taking a look at starting a long position in FAZ at these levels . FAZ is very close to a breakout in a consolidation pattern.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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