Trade Alerts – Difficult Spot 7-20-2017

A few issues to contend with:

We are getting into earning season and I don't trade stocks that have earnings coming out in the near future as it just too risky.
Summer is customarily a slower time for the market 
The market is getting very overbought today.
As you can see on the below chart, we are getting overbought and I am concerned about putting set ups out today given this fact. I would rather not put set ups out than put some out that I am not confident will work well. 

This doesn't happen that often but it is important to be aware of this.

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