Were you prepared for this bounce?
About +18 million late prints appeared on the SPY & this is how we traded it.
About +18 million late prints appeared on the SPY & this is how we traded it.
The late prints may have just put in the short term bottom we need in order to get short.
OPEC is up next, and with the crude oil market pricing in a 2m barrel per day decrease in output (think less supply) crude oil triggered a regression to the mean on the daily while simultaneously setting up a great daytrade. Let’s manage the short and long term in crude as I explain how I am trading both.
From crude oil, gasoline, and natty gas to the indices, here’s what is going to dictate where the trends head next.
Today’s bounce in the index rallied right into a tight cluster of measured resistance and started to turn back down. It’s too early, however, to know if the move back down is a lasting one.
S&P bounced off of the 200 Weekly SMA to kick off Q4. This week is an interesting one with the NFP report on Friday as well as a few other things that I will touch on in tonight’s market update.
Been watching, stalking, waiting patiently for a spot in Nat Gas and I think we are now just at that spot. I will explain that and much more in tonight’s market update.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.