One lesson I learned from Charles Kirk is to always play (on the long side) the strongest instrument available and never settle for less.
I have been focusing on day trading rather than swing trading (which I usually do) and want to take advantage of the volatility in the indexes within the trading range we are stuck in since November.
I have been using the Advancers – Decliners along with the Tick to choose whether I play the Q’s, SPY or the Russel small caps IWM. Notice in the charts below the Zero line and where the indicators are. I also like to plot a 10 or a 20 MA to make it easier to visualize. Today the choice is the SPY as the strongest instrument to play to the upside.