SKYYCan continue the rebound. And this is long for companies such as orcl, msft, twlo, adbe, net, ddog, snow. There are more obvious divergences for 4 hours.
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About First Trust Cloud Computing ETF
SKYY ETF - looking good for an uptrend continuationFirst Trust Cloud Computing ETF ($SKYY #SKYY) is offering a good risk reward entry for a continuation of the uptrend movement.
hedging on $SKYYafter breaking out and rallying to all time highs I think SKYY will pull back to the 10 week moving average. this would be the 4th time the etf to touch or cross below it's 10 week moving average and would be a sign of an old and tired trend set to reverse. I am long SKYY 95 puts. with an initial ta
SKYY - Soaring through the cloudsSKYY tracks the ISE CTA Cloud Computing Index (CPQ), and on this weekly view looks like one of few possible V-bottoms.
A few points to note:
- SKYY's current bottom actually took place March 16th; a calendar week before most equities
- We've had a 35% pop since the 16th (more than half of the nomi
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