Even though the market didn’t seem as certain on Monday as it did last Friday, Ryan Mallory of SharePlanner.com still continues to stay cautious at these levels and offers a bullish list of trade setups traders can look to get long on.
On Monday, the market didn't seem as certain, but nonetheless, it was still staying right near the new closing highs established last week.
I'm cognizant of the fact that the S&P 500 (SPX) has rallied over 100 points since establishing last August's lows. I'm also aware that the market doesn't go up in a straight line either. As a result, I am being a bit cautious at these levels, so that—if there is a pullback—I am able to weather the storms, and also put my self in a position where, if I have to, to benefit from the market with some short positions. Right now I have none, and have no plans in adding any just yet.
Here's the bullish list of trade setups:
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By Ryan Mallory, Founder, SharePlanner.com
