Jan 22, 2019 — TUESDAY AM
The ES, NQ, and CL each faded after the Open, with each trending lower throughout much of the morning. The ES and NQ may see buying pressure enter the equation soon, but Crude Oil may see heavier weakness, as a retest of 49s looms. I took profits on half the trade in $EBAY after favorable news this morning, and am still holding $SFIX. Here are the levels and candidates we focused on during the morning session of the PivotBoss Trading Room.
Topics Include:
- ES/NQ Morning Weakness
- CL Rejection at 54.50 suggests retest of 49s
- $EBAY Took profits on 1/2 position at 5.70 (holding FEB 29 calls)
- $SFIX Holding 1/2 position of MAR 20/25 call spread
- $TNDM Swing Buy opportunity
- $INSY Long Term Trade Idea
- $OSTK Long Term Trade Idea
- $STLD Swing Buy opportunity
- $ADBE Short opportunity
— Frank Ochoa
Author, Secrets of a Pivot Boss