Correlation trading of not expensive stock

Correlation trading strategy idea analysis

In my previous ideas, I showed my vision of correlating moves.
Large capitalized stocks like FB, APPL or MSFT have a good correlation with SPY due to big weight in the index.
But less expensive companies like MU also are good for correlation trading.

Look on the SPY and MU charts.
Actual corresponding support&resistance levels look so much alike.
Correlation is good enough to expect future similar moves.

It is an especially good time for correlation trading.
Many big players will close their positions due to a correction move.
So, I suppose, it is time for intraday shorts.
Watch on support levels with particular attention.

Following the correlation trading strategy, it is reasonable to wait for correlated level breaking.
When SPY and MU simultaneously break their resistance levels, It will be possible to buy MU.
When SPY and MU simultaneously break their support levels, It will be possible to short MU.

Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.

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