With the historical FOMC announcement upon us, I have to confess that I do not have much directional commitment.
On Friday, I covered the two short positions (GPC and NVS) when I detected that the market was reversing, while EV did not display selling pressure on these two stocks.
I also opened two new long position: BLUE and a 1/2 short ERY (ERY is an inverse ETF)
Below is the BLUE EV pattern when I opened the long position
Below is the End of day pattern, with the new stop level.
The XLE MF was displaying a positive divergence on Friday, which decided me to take the trade.
The trade ideas for the day are below. I like many of them and checked them one by one, but so much depend on having the market direction correct that I plan to have a balanced portfolio by Wednesday 14:00
The ideas in Pink are Breakout/Breakdown on volume