Keep an eye on HGSI

Earlier I posted on HGSI and today's move having a high probability of a downside shakeout, this is one that I like as a long for at least a swing trade and the longer term pattern is developing well too.

If we get the upside head fake move in the market with AAPL (most likely), there's a good chance we will see a powerful move up, that is the role of a head fake move, to be convincing, so if you are VERY nimble, there's probably some gains to be made, you could use ETF's of the market averages or leveraged ETFs such as UPRO, TQQQ, UDOW or URTY, I think you only need pick one or if you go with all, treat them as 1 trade for risk management purposes, but even with the possibility of a sharp move up, it is sort of like picking up change in front of a steam roller so I would only do this if you are very nimble and can get out of the way quickly and don't expect this to be more then what it is.

HGSI I like for other reasons.

 We have a nice rounding intraday bottom with volume confirming.

 As I suggested earlier, a move today in HGSI below support triggered a lot of stops allowing the pros to accumulate, the 1 min chart shows a strong positive leading divergence.

 As does the 2 min

 Look at the 5 min!!!!

And even on the 15 min in a 1 day move which is rare.

I would set an alert for HGSI crossing the $7.50-$7.55 area and that's where I would want to be long, you can always have a stop a little below, maybe $7.40, depending on your risk tolerance, I always favor wider initial stops even if it means taking on fewer shares.

Basically, what we may have here is a bullish head fake move in HGSI today. Set those alerts!