Idea - JETS, Feb 3 (short)
Keeping an eye on JETS. Fib levels from the previous high and low put the retracement range to being 18.36 to 19.46. If it pulls back, it will likely cross my baseline (Keltner/SSL Hybrid) and have a possible short signal. My CLAMP indicator has also turned blue, which indicates the previous MA has entered a negative direction.
I am not entering this trade yet, since my system is designed to trade trends, not reversals. The price has been consolidating over the last few periods and we're just waiting for a bearish breakout.
Note that JETS also correlates fairly strongly to the S&P. It will likely move down with the rest of the markets if that is the case.
I am not entering this trade yet, since my system is designed to trade trends, not reversals. The price has been consolidating over the last few periods and we're just waiting for a bearish breakout.
Note that JETS also correlates fairly strongly to the S&P. It will likely move down with the rest of the markets if that is the case.
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