Quick Assessment of Leveraged Instruments
I look at the basic and core stock market indexes and sectors when making trades. However, sometimes it is a good idea to do a quick assessment of the leveraged instruments trending. So, here is a quick post on that:
NRGU and OILU are both trending bullish. However, their RSI is higher than where I would like to trade.
PICK - Metals and Mining - is trending bullish. Consider a trade.
YINN - China - is trending bullish. I am already holding EEM so will not get into China now.
UDOW (Dow Jones), SPXL (S&P 500) and TQQQ (NASDAQ 100) are all trending bullish. I like to go with SPXL and TQQQ. So will buy into these today if the market is rising.
EDC - Emerging Markets is trending bullish and I already hold EEM call options.
TNA - Small Cap - is trending bullish. I already hold IWM call options which is similar. So, will stick with that for now.
CURE - Healthcare - is trending bullish. I already hold XLV call options.
FAS - Financials - is trending bullish. Consider legging in.
NAIL - Homebuilders - is trending bullish. Consider legging in.
TECL - Technology - just turned bullish. Consider legging in.
SOXL - Semiconductors - is trending bullish. I am long SOXL call options.
FNGU and FNGU - Big Tech concentrated - have both reversed and now trending bullish. I like these concentrated instruments and will likely take a position today.
LABU - Biotech - just turned bullish. Consider taking a position.
That is 17 I just reviewed, and all have reversed and now trending bullish. The signs are all there for the markets to go up from here.
Shortlist of Instruments to Buy:
SPXL, TQQQ, TECL, FNGU, BULZ, LABU, PICK, FAS, NAIL
If the markets are up around 10am this morning, I will make a few of the above trades.