Tradecontext
Morning Ideas December 17, 2020Yesterday we saw an underwhelming move after the FOMC announcement.
However, we did break higher and are now clear of the 3690 Value high level that we had been pinned to.
I don't see any reason why we can't continue to move higher, with 3740 now in the crosshairs, as long as we can stay above 3690 on a retest (if we even get one).
Good luck today and remember there is still some big news with TESLA and OPEX tomorrow.
Morning Ideas December 9, 2020Couldn't have been any more wrong about yesterday, but when you trade in the direction of the trend, you're going to get the benefit of the doubt more times than not.
Yesterday was a classic trend day, when I was expecting a smaller range, but if you lost money you were probably playing countertrend.
I'm staying long until something changes.
Morning Ideas December 8, 2020Today is a day that I'm going to play a bit contrarian to what the trading books would tell you.
Risk reward will not be that great, but I don't expect to see a directional move, so i will widen out the stops to make sure I don't get stopped out in noise, and look to take a bunch of smaller trades to capture what I believe to be an inside day between two levels.
Morning Ideas December 1, 2020Window dressing late in the day saved the longs, but unfortunately for me, I was flushed out on the original push down.
Same kind of story today. Long and strong, likely to see us move towards 3700 and the beginning of the Santa Claus Rally.
Keep an eye on VIX, its now below 20, which indicates a market that has lost the fear that we saw for most of this year.
Morning Ideas November 25, 2020Day before Thanksgiving in the U.S. will probably mean slow and low volume, particularly later in the day.
Here is a link to the holiday calendar for the CME, so that you can see what the trading hours are for you.
www.cmegroup.com
I would expect the market to stay between 3650 and 3600 today with a skew in the direction of the trend, which I believe to be up (again).