Depending on what’s said during the President’s commentary Wednesday night, stocks could be setting up for a good Thursday. Let’s break that down with this one signal that I’m watching for the last day of the week.
As often happens when trading at -3ATR, we got a huge short covering rally today, right back into key resistance. Is this rally going to die quickly, or are new all time highs around the corner?
The best trade idea I see continues to be the 570/500 put debit spread on the QQQ for June. If the market has a bounce I am looking for a move up on VRT. Also, in to next week it looks like oil can break above $100 and hold there.
