Monday’s action saw the S&P 500 hit a new all-time high, but volume subside. At the very least we did not see the market roll over in heavy volume or a distribution day. The Russell 2000 had a weak session and continues to be a laggard amongst the NASDAQ and S&P 500. Volume was mixed on the session with NYSE volume coming in higher and NASDAQ lower. Earnings continue to flood the market and so far, it has been steady as she goes. The broader market hasn’t even blinked. We continue to expect individual volatility to increase during earnings season. It will be interesting to see if the broader market will be impacted. Not a bad way to start the week, but we need to see IWM pick up some steam.
Tuesday’s commentary is going to be light but be sure to be on the look out for a coupon code for summer savings. This will be for new subscribers and since we have not had a coupon in a long time so why not have one this summer. We want you to enjoy some savings and valuable content to help you succeed with your trading. The coupon won’t last long, so be on the look out and Save BIG.
At some point we are going to see a small correction in this market. Perhaps a quick 3-5% correction where we see leaders pullback and many traders panicking because they do not have a plan in place. Will it come tomorrow or this week? No one knows when it will happen, but for those who prepare will take any correction in stride. If it turns out to be more sinister price will certainly indicate. It is important your risk management process is robust and you are following it!
We hope you have a great day of trading!
