So goes the market. Until the financials stop getting decimated on a daily basis...this market ain't gonna do a thang. So, today ITM brings you SKF - the ultra short financial ETF. Day traders LOVE this security as it moves an average of 18 points a day. let us repeat..18 points a day!
The chart shows that we are on the upper end of the channel (width = 100 points). We are not saying it is about to reverse but watch it closely as we head further into overbought territory.
Trade well,
Trader D
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