Exactly What You Should Do In A Market Like This
Looking to the indices, on Wednesday, the Nasdaq traded
back-and-forth in narrow range trading.
This action keeps it below its minor resistance level (soon
to become major if it can’t get through it), circa
2100.
The S&P finished lower. This action keeps it below
resistance, circa 1160.
So what do we do? There’s really nothing much
to say again tonight. As long as the S&P and Nasdaq remain below resistance
levels, I don’t think there is too much that should be done.
After tooling through my charts over and over again, I
finally gave up. As I’ve said in the past, this is usually a good time to
avoid putting on new positions. With that said, no setups tonight
(Wednesday).
Best of luck with your trading on Thursday!
Dave Landry
P.S. Reminder: Protective stops on every trade!
P.P.S.
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