We did not close any trades on last week, as we continued to hold on for some winners, letting them to maximize their respective returns.
This week, we chose to close some positions amid of soften market sentiment. As we can observe, Standard & Poor 500 is now dropping below the medium term upward trendline, which the supporting line is now fall to its 50-days moving average. Failling to maintain the support around this area (between MA50 & MT-upward trendline) will spell negative momentum for the index. In another word, the weakness will continue & intensify if it fails to hold on to its support level.
Both trades we closed were in positive return, and impressive! Among them are KRONO and REXIT.