Continue To Remain Patient Until The Market Does This
On Thursday, the Nasdaq worked its way higher until
mid-day. It then sold off for the remainder of the day. This action has it
closing poorly and keeps it in a trading range.
The S&P put in a similar performance. This action puts
it back into its trading range.
So what do we do? Well, Thursday’s action
keeps the market in a range and it keeps us in wait and see mode. As mentioned
recently, until we see a meaningful breakout followed by an orderly pullback,
there’s not much to do.
No setups tonight. Â
Other
For those who were wondering, I’ll do a follow up on Kmart
(
KMRT |
Quote |
Chart |
News |
PowerRating) (mentioned recently as a money management example) on Friday.Â
Best of luck with your trading on Friday!
Dave Landry
P.S. Reminder: Protective stops on every trade!
P.P.S. My new 20-hour course is now shipping.
Click here to learn
more, or to order..Â