Now that we are one day into the new year, there are 2 pieces of advice we can give you.
The first is to learn a strategy – and then become a specialist in that strategy. For example, why not select phases? We love her. Misch wrote a book about her. And once you understand the phases on a daily and weekly time frame, your trading will improve significantly.
Second, learn to follow attachments. Sure, short-term bonds work well, as do 20+ year bonds. But we’re all about high-yield, high-debt junk bonds. We basically use the bonds to turn risk on/off. And we find that quieting the noise, especially with the bleak forecasts for this year, helps us to act much better.
The HYG (or JNK if you prefer) chart was an excellent guide to the short and long term market movements. It also keeps us out of the way while hacking.
In June 2022, HYG hit its bottom. So does the market. Then HYG had a phase change in July but couldn’t get enough going to clear the 200-DMA. And so the market faltered. Then October’s sharp reversal candle gave traders a good lower risk point. The rally that followed took the price straight to the December high and the 200-DMA.
Currently, HYG is just below the 50-DMA. In the indices, too, it closed green on a red day. This tells us that risk appetite remains unaffected. HYG is outperforming the SPY and momentum had a bullish cross while momentum is trading above the moving averages. Most importantly, as phase experts, it urges us to watch this 50-DMA carefully.
For more detailed trading information, contact Rob Quinn, our Chief Strategy Consultant, to learn more Mish’s premium trading service or our other trading services during a brief consultation.
“I grew my money tree and you can too!” – Misch Schneider
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- S&P 500 (SPY): 375 support and 384 resistance.
- Russell 2000 (IWM): 170 central support and 175 resistance.
- Dow (DIA): 325 support and 334 resistance.
- Nasdaq (QQQ): 260 support and 267 resistance.
- Regional banks (KRE)): 56 support and 61 resistance.
- Semiconductor (SMH): 196 support and 205 resistance.
- Transport (IYT): 210 key support and 215 now resistance.
- Biotechnology (IBB): 127 is the central support and 133 is the overhead resistance.
- Retail (XRT): 57 key support and 63 now resistance. hold 60
Misch Schneider
MarketGauge.com
Director of Trade Research and Education
Wade Dawson
MarketGauge.com
portfolio manager
Misch Schneider serves as director of trading education at MarketGauge.com. For nearly 20 years, MarketGauge.com has provided financial information and training to thousands of individuals, major financial institutions and publications such as Barron’s, Fidelity, ILX Systems, Thomson Reuters and Bank of America. In 2017, MarketWatch, owned by Dow Jones, named Mish one of the top 50 financial professionals to follow on Twitter. In 2018, Mish was the winner of Top Stock Pick of the year for RealVision.
