Morning folks. Futures gapping up slightly on china trade surplus news amongst some other tidbits on the tax cut deal. GLD down .2% with USO up .3%.
market here is digesting the big move on the bounce off its 50dma. This type of sideways chop chop is typical. There is nothing wrong with consolidation as the market had hit an overbought situation and that condition is working itself off. 2 ways to do that is sideways action or a dip.
1st levels of support $spx 1125 and spx 1120 (this weeks) low.
The market has been a bit choppy but there are miles and miles of setups..the underlying action has been quite positive. I myself have been chopped out of positions but mostly because of bad trade management instead of taking 5% gains I tend to “go for it” . In the end i just got to keep churnign profits.
1st levels of support $spx 1125 and spx 1120 (this weeks) low.
The market has been a bit choppy but there are miles and miles of setups..the underlying action has been quite positive. I myself have been chopped out of positions but mostly because of bad trade management instead of taking 5% gains I tend to “go for it” . In the end i just got to keep churnign profits.
Some stocks im watching
I also like a whole host of banks to many to post..
I will revenge trade bpop till it breaks out..add and add and add as it has gotten me so many times.. I will have my revenge
crbc, fbc all of them look really good.
