Market Traction Update – April 20 Update 2


The SPYs opened the week at $267.00 and are very close to that level now.  It’s been a “dud” of a week so far but there’s plenty of time left for tweets andlate on a Friday panicking.  Friday is not typically a day in which we initiate new trades.  However, because it’s been ultra-boring and not really trade-able with respect to our names, we thought we’d put out a choice few for your consideration as mere mentions.  We believe things remain unclear so treat these in that light.

On the bear side, RSG, has some real vulnerability as we see it.  If it drops a little more, that could start a drop of a lot more!

On the bull side, PFE and JCI, in their own ways, are showing bullish qualities at the moment.  Note that both have earnings due out in the near future.

These are the best lower risk/respectable reward chart complexions out there at the moment.  A week like this reminds us that while we’d like to trade, trade, trade…it’s not always productive to do so.  This week is shaping up to be a frustrating draw unless a lot happens in the half day of trading that remains.  Here’s hoping for more potential next week.


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