Class starts shortly so I'll be brief today... Make sure you don't get too zoomed in, as it gets tough to see the forest for the trees.
Steady drift higher. I wouldn't fade this if I were you. The market seems just fine up here. I would expect low volatility and a mean reverting type of market on the intraday level. Favor the longs for the drift
Today there is a trading halt at 12 central (1 eastern)... These kind of days are usually VERY slow, with the market makers/movers not participating much at all. We have finally cleaned up the weak high and continue to melt up, on a larger scale. I'm staying long here until the market tells me otherwise.
Not a whole a lot to do here... Volume is already low and will continue to dry up as the day goes on, as people start heading for the beach for the July 4 long weekend. I would expect today to be a slow drifting day with nobody really in control. I don't think there is an edge here, so I would certainly stick with the Longs if you had to be in the market.
Sound wasn't working yesterday, and not on the first iteration today either. Trying to get this out so no extensive writeup today. I'm staying long here.
The slow grind is dangerous for traders, as many try to fade the move. I expect this market to continue to grind higher on lower than normal volume. 4300 is the next stop.
Beware that the high of this heavily traded zone is right above us. That should not scare you, but may be a place to take profits. I still expect some chop in here before eventually going higher towards 4300.
Likely to be a volatile week this week. I would expect the markets to finally break out of this level as we now have a lot of options expiry behind us. We are trading right smack in the middle of the range at 4177 when i'm writing this. I would expect to continue to see chop, but for the market to pick a side this week. All of this means to be careful when...
Very box-y looking profile now. This tells me that there is likely to be chop. Especially with the high volume that we have overnight (180 percent). I would be careful chasing this market either way. For me, I'll be looking to buy any strong dip as it will likely be temporary. These high volume days inside congestion areas have the tendency to whipsaw back and...
FOMC meeting minutes brought us exactly what we expected...a big change in volatility. The FED stayed put on rates and the bond purchasing program, which means that nothing has really changed. I'd look for continued weakness into the open today, but I would want to buy that weakness. In my opinion, the market is only viewing the 'staying put' as weakness...
FOMC meeting minutes today at 2pm eastern time. I would not trade through the news if I were you, it will likely cause some short term volatility in both directions.
Here we talk about having to adjust the reward vs risk to something that is lower than we like, to accommodate for the lack of opportunities the market is giving us. the Long and strong, but be ready for that Fed annoucement tomorrow at 2pm eastern.
Late for the open today, I think it's unwise to be short this market.
Contract rollover today. If i were you, I'd be trading the september contract by the afternoon. We finally tagged 4250 yesterday. The market has abysmal volume this morning and I wouldn't expect a lot out of this market today. I'm staying long and strong until something changes (sound familiar'?)
Don't let little pullbacks blind you from the overall theme. I'm staying long here.
Contemplated not doing the morning ideas today because of how slow the market is. We got the same movement yesterday. Fast move down in the morning, just to see it rebound quickly and sit sideways the rest of the day. In my opinion, 4250 is still on deck as it has been for about a week now.
Here we go guys, 4250 is on deck. Long and strong until something changes.
Same story here, still looking for 4250 and the profile to be 'cleaned up'. Low volume today though, likely leading to a sleepy trade.