Tuesday, March 13, 2018

QLD signals Long for Wednesday but flat override....03.13.18

A positive opening today gradually eroded throughout the day to a negative close.
As a side note: in the current volatile intraday trading environment I always immediately enter a stop at net zero went the market opens in the green. While this sometimes results in a missed opportunity in multiple +.- swing days it does prevent any losses in such volatile days. (this is a conditional order and the limit stop set at the previous close for the position is cancelled when the fixed price stop fires.)
The signals for tomorrow are long but they violate our general of not taking vested positions when the TrendX stop has violated the trend and when the pivot line is downslope.  We may be surprised to the upside tomorrow but I prefer to remain on the safe side and sit in cash for now.
Note that volatility is once ahgain on the rise in the ATR and PCL charts