Trading Watch List 11.05.2018

Some selling pressure at resistance. Not surprising at all. Mostly due to disappointing earning from AAPl.

SPY 20 MA rejection. Needs to base above 270 area.

QQQ 1st rejection at 200 MA. Needs hold short term support here.

IWM, small cap still showing relative strength. Needs to base here.Overall, Friday’s action in SPY and QQQ was mostly due to weakness from AAPl. Individual stocks held up well. Going into next we have mid term election result reaction, China tariff news/rumor, tweets which might cause volatility again. Bit if you are an active trader, there should some decent trading opportunities with both long and shorts.

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