SPY Extends Upswing. TLT Forms Bull Flag. USO Nears Key Retracement.
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Key Reports and Events (all times Eastern):
Thu - Apr 25 - 08:30 - Jobless Claims (AMZN, ALTR, XOM)
Thu - Apr 25 - 10:30 - Natural Gas Inventories
Fri - Apr 26 - 08:30 - GDP (CVX, TYC, WY)
Fri - Apr 26 - 09:55 - Michigan Sentiment
Charts of Interest: Tuesday and Thursday
This commentary and charts-of-interest are designed to stimulate thinking. This analysis is
not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise).
We all need to think for ourselves when it comes to trading our own accounts. First, it is
the only way to really learn. Second, we are the only ones responsible for our decisions.
Think of these charts as food for further analysis. Before making a trade, it is important
to have a plan. Plan the trade and trade the plan. Among other things, this includes setting
a trigger level, a target area and a stop-loss level. It is also important to plan for three
possible price movements: advance, decline or sideways. Have a plan for all three scenarios
BEFORE making the trade. Consider possible holding times. And finally, look at overall market
conditions and sector/industry performance.
