Closing Trades (HD, SQ) – May 12th, 2020
DailyPlay Positions Outlook:
The market has continued its march higher after breaking above its $285 resistance and now testing its upper range at $292. As the Fed continues to provide stimulus and easing, we expect markets to push its $300-302 resistance level, but with weak momentum and money flow, risk are skewed to the downside. We are protecting our profits on our long HD position and closing out SQ at a full loss as small business optimism continues to buoy this market.