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The market has failed to roll over in any sort of way that would reward those who took on levered instruments to the short side, relative to the risk of further upside. Whether we are looking at a central bank-engineered phantasm of a a market should be irrelevant to you as a stock trader. As a citizen, you can certainly vent your concerns, but there is a huge difference between what you think and feel about politics, versus how you form a market posture.
Looking at a short-term chart of the SPY, you can see that we continue to “go sideways” as a substitute for violently rolling over like we did many times over the past several months. Underneath the surface, I am seeing more and more stocks beginning to act better technically. Headed into next week, I have my eye on a few areas of the market that I will be keying off of to see if I should expect continued upside.
We are putting the finishing touches on another awesome week inside the 12631 Trading Service in The PPT. We are not selling the idea of cherry-picking winning trades, but rather we believe that we have the best community and chat room for traders in the world. And that is too much value to pass up. Come check us out.
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