Shooter’s Major Markets ETF Risk On / Risk Off Report

Scott “Shooter” Henderson’s Elliot Wave and proprietary technical analysis of Major Markets. Includes equity ETFs: SPY, QQQ, DIA and IWM, plus treasuries through TLT. Use this analysis as a general market guide and for trading the major market ETFs.

Follow along in chat if you are going to swing trade a portion of your account (requires RARE Investing membership). We recommend starting with trading 5% or less of your total portfolio and no more than 20% even as you gain experience.

Risk On / Risk Off Index Notes

*New Feature: We added a Harmonic look for a daily, weekly and monthly time frame. If there is no count no chart will be published.

Continue to scale in!

“Next Entry Window Long label” or “Set-up Long”

A view of the big indexes that give us a clue as to whether the stock market is more risk on or risk off.

USER GUIDE

SPY Maybe a dead cat bounce? Risk On! Then Risk Off!! Its all about yields now. Last week I said, “Doe’s it give us a new highs or not”? It gave us $479.98 short of our count $484-88. I’m now getting a clear ABC down ending around $460. Sell any rip towards $474! I’ll also add back some VXX common there.

SPDR S&P 500 ETF Trust Monthly Chart
SPDR S&P 500 ETF Trust Weekly Chart
SPDR S&P 500 ETF Trust Daily Chart
SPDR S&P 500 ETF Trust Daily Harmonic Look

QQQ Risk Off! That said, I’m thinking we get some rotation Monday and then reserve by midweek. I’ll probably chase the opening. If you follow stay tight with weeklies or next week around $380 calls. Get a piece and get out. Technically, we should get back to around 50% of last weeks candle. Its a lotto here. So, can’t honestly call it out as a Swing Trade here.

Invesco QQQ Trust Monthly Chart
Invesco QQQ Trust Weekly Chart
Invesco QQQ Trust Daily Chart
Invesco QQQ Trust Weekly Harmonic Look
Invesco QQQ Trust Daily Harmonic Look

IWM Risk On! New Next Entry Long Label. Cycle Wave 4 Set-up with a 90 minute trigger and a Daily trigger. Targets $273 2nd or 3rd quarter 2022. MIND THE STOP!

iShs Russell 2000 ETF Monthly Chart
iShs Russell 2000 ETF Weekly Chart
iShs Russell 2000 ETF Daily Chart
iShs Russell 2000 ETF Monthly Harmonic Look
iShs Russell 2000 ETF Daily Harmonic Look

DIA Flat to Risk On! A little divergence in the the tops. Weekly says 367.51 / 391.39, Daily says 379.21 / 392.49. All counts say the floor is in. Hence, my NEXT ENTRY LONG LABEL for a short term swing long. Stay tight $2 to $3 out 2-4+ weeks out. This entire market could flush on anything! So stay small and take what’s given. I’ll stay in the weeklies $2.50 or less. MIND THE STOP!

Dow Jones Ind. Avg. ETF Monthly Chart
Dow Jones Ind. Avg. ETF Weekly Chart
Dow Jones Ind. Avg. ETF Daily Chart
Dow Jones Ind. Avg. ETF Daily Harmonic Look

TLT Risk Off! Man I didn’t even see it until I looked at the week. Clear as day now. Will chase that the second Golden Box down for +$5-6. MIND THE STOP! I will also be taken 5% of gains rolling them out on Quarterly Puts.

iShs 20+ Yr Treasury Bd ETF Monthly Chart
iShs 20+ Yr Treasury Bd ETF Weekly Chart
iShs 20+ Yr Treasury Bd ETF Daily Chart
iShs 20+ Yr Treasury Bd ETF Monthly Harmonic Look
iShs 20+ Yr Treasury Bd ETF Weekly Harmonic Look
iShs 20+ Yr Treasury Bd ETF Daily Harmonic Look

Please see Shooter’s disclosures and terms of service for his swing trading ideas.

Follow Shooter on Twitter @swingtradenotes

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