Today, the Nasdaq put in an inside day with a poor close two days ahead of Friday's jobs report and the Labor Day holiday weekend.
For those who don't mind contra-trend trading, the SPDR S&P Oil & Gas Exploration ETF (XOP) sets up in a two-bar pullback with good close and touch of the 20 ema. Alternatively, the 2x levered version of this ETF, GUSH, may be traded.
These are for more-aggressive players since the trend in the averages is down. As a result, they are not being added to the Focus List, and I will not be trading them myself.
With nine of the last 12 Nasdaq sessions being down and this week having the potential for thinly-traded conditions ahead of the holiday weekend, cash is the logical place for most operators.
Introduction to the service (38:00)
Money management and risk management (20:27)
Bread and butter pullback (11:10)
Bread and butter pullback: Pt II (15:09)
Bread and butter pullback: Pt III (31:48)
Bread and butter pullback: Pt IV (30:16)
Bread and butter pullback: Pt V (1:41)
Wyckoff spring reversal (2:30)
5-minute breakup test (8:01)