November 3, 2016
Trades & Tutorials
By Geoff Bysshe
The QQQ broke a key level of support on Wednesday. This follows the pattern of the SPY on Tuesday, and IWM last week.
Yesterday’s decline also pulled two more sectors in our Little Big View Sector Summary into Warning Phases. This leaves only one of the 14 sectors above its 50-day moving average.
The one last sector in a Bullish Phase is IYT, however, and it’s not the one to be most focused on.
In this week’s video I review the two most important sectors to watch right now to determine if this week’s decline is just the beginning of a much larger market correction.
The video will also reveal a well-defined trade setup for profiting from a further market decline if the market’s best sector breaks its key level of support.