Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
The Nasdaq and Russell are confirmed downtrends while the S+P and Dow and hanging on. With the next two weeks, it could be very slow with Christmas and New Year’s anything goes.
At this point a case can be made for either depending on how you want to look at the market. The best way is to react to price action without an opinion. Caution is advised always but especially the next two weeks.
Call buyers lead the way as always and we always remind you that we don’t know the other side of their trade. Put buying and call selling have picked up and the bullish option strategies have fallen on the leader board. The VIX looks to be in an uptrend without the wild trade.
The bulls are mixed on their purchases with the SPY leading the way followed by QQQ, HYLN, AAPL and AMZN. The bears are attacking DKNG, GLD, SPCE, AMC and FSLR. We have a mixed bag which is consistent with market action.
Remember, we can’t predict what’s next, but the price action will give indications and guide us in the right direction. All signs are starting to point lower however flexibility is the key to trading successfully.
As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control.
Todd “Bubba” Horwitz