Futures did not start the day in a positive manner, but would turn as buyers step in and support the market. The morning’s economic news lead by retail sales and jobless claims sent futures lower by nearly one percent. While sellers were out in full force before the market would open for business buyers were waiting in the wings to scoop up shares. Volume on the NASDAQ was soaring as institutions were out in full force. We can provide you with a reason as to why the market pushed higher, but it simply doesn’t matter. All we need to know is the market reversed to the upside in a very powerful manner. Stay with the trend and with its leaders. The market will reward your efforts.
Last Friday we identified a change in the market behavior. It helped us increase our positions and take advantage of the recent market move. One way we are able to take advantage of such moves is a lack of directional bias. Better known as being a “bull” or a “bear” is not something we concern ourselves with. Many market pundits identify with one side of the market. Sure, stock market bulls have been on the winning path as of late. However, what happens if an August of 2011 hits or even a 2008 stock market. What would happen to the stock market bull without an exit plan? Get a plan and Big Wave Trading can help.
We hope you enjoy the long weekend ahead. It appears the US Markets are primed and ready to continue to march into new high territory. Of course we’ll see how it all plays out and execute our plan flawlessly. Get out and enjoy the weekend.
