As there isn’t much to add or update regarding the stock market & with the all-important NVDA earnings on deck for after the market close today, I’m going to take some time to update the trades listed in Active Trades category, moving those that have either hit the final price target and/or exceeded the maximum suggested stop (if provided) or any reasonable stop (typically, a minimum of a 2:1 R/R to the final target).
PGJ daily Oct 16th
PGJ-daily-Nov-8th
PGJ daily Feb 25th
The PGJ (China ETF) long swing trade hit the final price target (T3) hit for a 16% profit. Although my preference was & still is to book full profits at T3 due to the big negative divergences as well as my (bearish) outlook for the US stock market (including a post-earnings beating for NVDA), for those still in the trade & holding out for additional gains, a stop somewhat below this uptrend line would be objective. Previous (Oct 16th & Nov 8th) and updated daily charts below.