Critical Signs To Tell If We Are Reversing

Posted by Joe Duffy | May 28, 2024 | Joe Duffy's Trading Advantage | 0 |

The attached chart shows the expected cycle high that was due last Monday/ Tuesday and thus far shows a Tuesday closing high. Only a new closing high would make me doubt the cycle. Two stocks that will act as “tells” as we start the week are META and TSLA. If these stocks rally, so will the general averages and vice versa.

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So keeping a close eye on these two. On the potential buy list this week is TLT, the long term bond ETF. Any dip Monday in TLT looks like an opportunity. I am short both LVS and ARK from $2 higher on both stocks. If the cycle rolls over this week, these have more room underneath.

Thanks,

Joe

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Joe Duffy

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