3/24/2019 Indexes whipsaw and most of them drop. Futures point to a drop on Monday.

DIA Weekly 3_24_2019.JPG

 

SPY Weekly 3_24_2019.JPG

 

QQQ Weekly 3_24_2019.JPG

Above are the three major indexes on the weekly chart. They are in order of weakest to strongest (from top to bottom). I suspect volatility will pick up now, and since futures are down right now (midnight Eastern time), I think we move down lower tomorrow and into next week. 

I still like the pairs trade idea to short DIA and go long QQQ. 

I think this price stall at resistance is the perfect opportunity for the bears to short. I think we’ve finally hit a local top and will continue lower for the next month. Of course, a move above the most recent resistance should have you stopped out.

If you want a lower risk trade, you can try the trade I suggested above.

Good luck trading, and see you next week like always!

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