Long Trade Candidates

We're still not there yet, I mean at a base that shows enough support to feel good about entering a long swing trade and not having to lose sleep at night wondering if it's going to completely retrace just like the post F_O_M_C minutes Knee-jerk bounce did the very next day (yesterday) or worse, gap down deeply on the open.

So far the 5 min charts which are really the standard or minimum standard by which I determine if a swing trade is worthy or not, are already there.

 5 min TF/Russell 2000 Futures positive divegrence.

ES and NQ are also positive.


As for the 7 min charts, they were all in line this morning and now we have the first signs of positive divergences like this NQ/NASDAQ 100 futures positive.

With all the charts, the VIX Inversion, etc, I feel a bounce is VERY high probability, I also think it is worth trading, although I prefer some leverage like 3x long ETFs (I closed my SRTY and SQQQ yesterday at a gain of +8.9% and +3.9% respectively). The candidates I'm looking at so far include:

FAS (3x Long Financials), not FAZ which is 3x short financials.

UPRO (3x long SP-500)

TQQQ (3x long NASDAQ 100)

URTY (3x long Russell 2000)

UDOW (3x long Dow-30).

So far I like TQQQ, UDOW and UPRO the best, although UDOW is a bit light on volume, the DIA looks to be the best relative performer as far as 3C charts go so far.

Divergences are building, they are not there at the 5 min charts yet like I need them to be for the averages (not index futures), there's also confirmation in the 3x long and 3x short ETFs.

Right now it's a matter of looking at each and deciding where I think I'll get the most bang for the buck and really where the actual timing pivot is, I'm less concerned with whether or not the move will happen, I believe it will.