The sentiment on Wall Street has dramatically changed, especially after the selloff of the technology-sector in early June. The positive and sometimes arrogant attitude expressed by some investors regarding the market has been replaced by a certain degree of unseen nervousness. This sentiment shift has opened the door for a choppy market, especially during the summer duration. Although such situations are expected during the low-volume months of summer, the sentiment change has raised the chances for a choppy market environment.
Leveraging a proactive strategy is an ideal way of taking advantage of the choppy market conditions. Thomas H. Kee Jr. has been creating proactive strategies since 2000. One of his profound strategies is dubbed the Lock and Walk. This tactic has proven to be lucrative in previous experiences with choppy markets. The Lock and Walk trading strategy comprises of the following rules:
- If support breaks, sell QLD.
- If support is tested by QLD, target resistance to sell.
- If resistance breaks, sell QID.
- If resistance is tested by QID, target support to sell.
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