I’m actually on my way to New York City for a little get-a-way with my family, so I’m composing today’s rundown mid-day – if you missed the rundown from yesterday, click here to catch up.
Here’s what’s happened so far… (15 minute charts of the SPY)
TODAY: (so far)
Now… just because we are retracing back doesn’t mean this market had the proper break it needed to take. I actually believe that we will probably have a little choppy period coming up ahead.
That doesn’t mean there won’t be trades to be made, it just means that if you’re a buyer of option premium, then beware
TWO MATHEMATICIANS WHO CRACKED THE MARKET
Over the last 8 years we’ve seen stock market declines of 16%… 18%… even 21%.
This strategy has never experienced a drawdown greater than 1.68%.
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The good news right now is that the $CPC (call-put ratio) has balanced back out and is right now at 0.99. A few days ago when it was well below the 0.85 “over bought” area I alerted traders it was time for some sort of correction – and with the Fed news already priced into the markets and the hawkish report, it set up a perfect chance for the playing field to level out again.
Now I promised you guys that I would share with you an update on my favorite picks… so here we go…
In markets like these I love sticking with sector trading. There’s technically 11 sectors in the S&P but I don’t really like to count XLC (Communications) because it’s so close to the XLK (Technology) sector… I had a knack that this market would take a spin down, and that’s why I decided to take a short position on the weakest sector in the market, XLE (Energy) sector:
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I’ve also identified the sectors most likely to gain over then next 10-15 trading sessions… You can access them in my training by clicking here.
Those are my thoughts on the market – and I’ll get back to you with a fresh update on Monday!
Trump just announced 10% tariffs on China which SHOT the market. If you haven’t watched my urgent briefing on how to handle this market, watch it now.