We had a mirror image of Monday’s action with the market opening up weak only to rebound into the close. I expect that the market action will continue to stay choppy into the Fed Policy and Friday’s Employment report.
As I noted in the last few corners, Small-Caps ($IWM) need to be the catalyst if the Bulls are going to have a chance to really challenge uncharted upside territory. $IWM had a slight gain at +.55 percent, and its large-cap brother, the S&P 500 ($SPY), finished the day with a +.32 percent gain.
If you have exposure to Consumer Discretionary ($XLY) or Retail ($XRT -.37 percent), tighten up your risk parameters. I do not like the weakness that we are seeing going into today and Friday’s events of the Fed and employment data.
The big story in the Tech space ($QQQ) is the downside move of Twitter, -18.18 percent. Social media was under pressure after this announcement ($SOCL -1.67 percent) as well as Internet Stocks ($FDN -1.19 percent). See if pressure builds on stocks like: Facebook ($FB -1.50 percent), Linkedin ($LNKD -1.13 percent), and Priceline ($PCLN -.88 percent).
Make sure to register for one of our webinars offered this week. Our broker partner,TradingBlock, has new tools you really need to check out, and get a rate of $0.50 per contract (CLICK http://www.tradespoon.com/newaccount/).
Have a great trading day!
Comments Off on
Tradespoon Tools make finding winning trades in minute as easy as 1-2-3.
Our simple 3 step approach has resulted in an average return of almost 20% per trade!