So a little selling yesterday. But that was expected after Thursday and Friday. Clearly these new levels we're at have many traders scratching their heads trying to figure out what's next. As of yesterday, we had 65% of stocks trading above their 50 day. Charts are telling you to be bullish. But it's more like cautiously bullish. We can probably continue to base here a couple more days before we go test 410. At the time of writing futures are up over 1%. Generally the week before Thanksgiving is a strong up week so let's see what happens this year. Don't predict....react.
Plan for today: Just going to sit on my hands again and wait for a good short entry. Be patient, stay disciplined, control your emotions and trade the market in front of you. Happy Trading!
Plan for today: Just going to sit on my hands again and wait for a good short entry. Be patient, stay disciplined, control your emotions and trade the market in front of you. Happy Trading!