The Closing Print live trading and financial blog during market hours.

US equity markets, stocks, and other assets reversed course on Monday. The rebound places price action back above the long term 200 daily moving average. Our thoughts and game plan are outlined herein.

SPY Daily – Rebound

Momentum illustrated with MACD is beginning to turn. RSI is oversold and improving. That said we don’t expect a “V” shaped recovery at this point. We are looking for consolidation above the 200d, then a gradual climb, if at all, back to resistance levels outlined above.

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The Fibonacci retracements (blue shading) between 50% and 61.8% are anticipated as resistance levels. The pivot low at 320.72, near the 9/21d moving averages, will most likely find some sellers looking to exit as well. We will watch for rejection and reassess the need for hedges at these overhead resistance levels.

Futures are just below closing highs, trading in a tight range. Yields are higher, with the 10-year Treasury yield clawing back almost 5% in early trading (1.13%).


Watching the USD/JPY forex pair. Higher would be bullish for equities.

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If the markets falter at some point this week, we’d consider SPXU, SQQQ, and SDOW for starters. These hedges cushioned the drawdown last week and actually made some nice gains (+44% avg) double the drawdown.

We already have a balanced portfolio with exposure to bonds and fixed assets (46% weighting). Gold is also a consideration, as it takes back some of its lost gains from Friday’s unwinding.

Watchlist Performance

Here are the top 5 from the watchlist. We are looking for follow-through if the markets can hold these levels.

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Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.