Swing Traders: Was today the day?

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SPY A couple of interesting aspects concerning today's rally. First is the accumulation day in volume, nice start. Second is the close over the 200 weekly moving average. Third is the close over the fast moving average. Next hurdle is the adaptive moving average. We got long today but took off the lion's share of the profits leaving ourselves slightly long and not overexposed. I like to think in terms of pre and post downgrade. 120.08 was the close that infamous week. For now, trailing stops on new longs because one never knows, but still very respectful of the bear market and how big rallies can be deceptive.

DIA  Came in looking better with the good stack on the pivots and the hold of the 200 weekly moving average. Never quite had that death cross like the other 3 indexes had. Last night I wrote, "Over 111.30 would be a good close and perhaps, especially if there is volume, a reason to stay long." There was and we are.

QQQ So much for the bear flag forming on the weekly, but still somewhat troubling as the sole index to not manage an accumulation day in volume nor close above the fast moving average. The question is will this play catch up or was it an early signal to not get too heady about a further rally? The big gainers today were AAPL BIDU GOOG NFLX-perhaps QQQ will gap higher. The adaptive moving average is the next point of resistance. The infamous downgrade week area to close over is 53.83.

IWM Back above the 200 weekly moving average. Accumulation day in volume and could not clear the fast moving average. Adaptive moving average next resistance.

 ETFs:

GLD Exited at 182.40 from the long at 170.75. Caught the move up and now will watch for a re entry. Has not traded beneath the 10 DMA since early July.

SLV Exited at 41.85 from 38.50 entry. The low last Thursday when it gapped higher and got exciting was 40.36. If that levels holds tomorrow, would consider an entry.

USO Bought today

SMH Bought today

IBB** Did fill the gap from last week with today's high 91.69. Using the pre downgrade barometer, has been outperforming the market this whole time. Volume low so would prefer to buy a dip.

TLT** Holding the low from last Thursday at 109.28, the day it gapped higher. Still in a strong condition.

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