The market is neutral but with last night’s elections results in, money can be positioned. Any pullback in SPY should be viewed as short-term buying opportunity.
We Can Expect to See a Large Move Tomorrow
Yesterday’s quiet movement was as expected heading into today’s election. Implied volatility rose as asset managers purchased insurance ahead of today’s results. We can expect to see a large move tomorrow based on tonight’s final results.
Tomorrow’s Elections are on Everyone’s Radar
The market is now overbought and due for a short-term pause/pullback. Tomorrow’s elections are on everyone’s radar and there will likely be two days of quiet trading ahead of this major event.
The Month End Upward Bias is in Full Force
Slightly overbought but the overnight actions from Japan are setting off a global rally. The month end upward bias is in full force and right now the path pf least resistance is again higher. Today should close higher and a reversal should be viewed as a short term opportunity on the short side for early… [Read More]
A Pullback Today will Provide a Good Opportunity
Slightly oversold, A further pullback today will provide a good opportunity to begin scaling-into SPY. For today’s official Daily Battle Plan set-ups click here.
Right Now the Opposite is Occurring
Yesterday was the continuation of the buying after Monday’s traditional pause day. The end-of month upward bias in prices in place along with aggressive buying from hedge funds who are desperately trying not to have their worst month since 2012 created a buying panic that led to yesterday’s rally. The Fed announcement and Tuesday’s mid-term… [Read More]
No Real Edges in Place Today
Yesterday was the traditional pause day which occurs after market become overbought. With the end-of month upward bias in prices in place along with the election nearing, the market may become quiet without a major news event occurring. No real edges in place today but this will be short-lived as it always. For today’s official… [Read More]
Headlines will Continue to Predominate Prices
The market is short-term overbought and due for a pause/pullback. Headlines will continue to predominate prices so proper position sizing should reflect this fact. For today’s official Daily Battle Plan set-ups click here.
The Potential for a Larger Long-Term Move to the Downside Has Increased
Yesterday the market bounced back well from Wednesday’s headline news. Today’s news will be another test as to whether or not the market can handle both terrorism and the Ebola scare in the same week. Overall most stocks are short-term neutral and with so many stocks near their 200 day ma, it’s going to take… [Read More]
A Rally would be a Very Good Sign
As I mentioned yesterday, the market was overbought and due for a pause. Today it’s slightly oversold and a rally from this position would be a very good sign. For today’s official Daily Battle Plan set-ups click here.
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