As I return to my desk from the Thanksgiving vacation, I’ve been struggling to find any new trade ideas that look very compelling, especially for typical swing or trend trades. Just as the week of Thanksgiving has traditionally been more conducive to active trading (i.e.- day trading and/or very short-term swing trading), over the years I’ve found that swing & position/trend trading is often difficult during the period between the Thanksgiving & New Years holidays due to year-end position squaring & tax-loss harvesting from individuals & institutional investors as well as periods of low trading volumes around the holidays.
RTY 10m Nov 28th
As such, I will continue to post both active (short-term) swing trade ideas as well as any typical swing/trend trade ideas that I come across as we head into the end of the year. As of now, the best short-term trade idea I see is /RTY (Russell 2000 Small-cap Index futures or IWM, TNA, etc.) which offers an objective long entry here at trendline support with positive divergences on this 10-minute time frame with price targets denoted at the arrow breaks. I’ll mark up & post a chart of IWM and/or TNA (3x small-cap ETF) in the comment section below asap.