For the past couple of weeks, the bears looked like they were going to take control of the markets.
Market Report Indices trading technically perfect
Earnings, FED, Technical Trading
Market Report Indices trading technically perfect.
Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
Over the past couple of weeks, the markets have traded perfectly from a technical position. Support has held, resistance has failed, and the markets sit in consolidation.
The price action has been easy to trade for those who follow the footprint the markets leave. All this action becomes evident in a lackluster market that lacks volatility.
This week things could get interesting with lots of earnings and the FED reporting. Markets have ignored most of the economic data while focusing on the FED. This week should go a long way towards deciding the next big move.
This week, Put Spread sellers led the way followed by Call Buyers. Iron Condors, Bear Call Spreads, and Bear Puts round out the top five. The VIX continues to fall confirming complacency and greed.
The bulls were buying SPY, AAPL, TSLA, MSFT, and GLD, while the bears were selling UVXY, SIRI, DWAC, NFLX, and CVNA. The markets are acting as expected
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