From the Trading Desk

Volume Jumps as Stocks Move Up

We continue to see new highs from this market, but you don’t hear exuberance from the crowd. What the crowd thinks or does is not of our concern. However, this market has been plagued by naysayers since 2009. It is not out of the question to see this continue. The pain of the 2008 and 2009 markets runs deep for most. Volume jumped quite a bit day-over-day. The NASDAQ struggled most of the day almost simulating stalling. We will certainly continue to manage our exits and ensure our risk management process is flawlessly executed. While we would certainly welcome a correction, even if a small one we’ll stay patient. It is not bearish to see all-time highs.

Utilities led the market with a gain of more than 1% on the day. Transports were up .64% on the session even as crude oil rose back above $50 a barrel. For the most part Tuesday’s action was quite a dull session. Even with utilities rising 1% it was not all that exciting for new all-time highs. What this might mean for the market moving forward is anyone’s best guess. If we are to move lower we have our stops in place to protect us from a big move to the downside. All we can do is control what is in our power to do so.

We are going to cut this short for now. Keep grinding and we hope you are having a great week of trading.

Take a Free Trial with Big Wave Trading

Speak Your Mind