As y’all can tell…the market for the past couple of weeks has been a bit wacky to say the least.
It’s easy to call the market when it’s in an uptrend like it was for the past year. It was also easy for a few days last week to call the short side.
But…Fridays close with the big crazy green indecision candle that bounced off of the 200 sma on the daily makes it quite difficult to find good plays right now.
Sometimes the best thing to do as a trader is to sit on your hands, not trade, then let the market come to you.
The potential plays for Monday don’t look good and we don’t want anyone to get trapped into any trades and lose their hard earned money.
As always, we will always keep y’all up to date on the markets and what’s happening. At some point in the near future the market should hopefully choose a direction up or down and then we will send out our watch lists accordingly.
Patience and discipline are important attributes to learn if you want to become a successful trader.
Keep in mind when big news drops, like When Biden was recently announced as president elect, things will get volatile. Always trust the charts, plan your trade and trade your plan!