What To Watch For The Trading Week Ahead
Share
One of the bigger surprises from the last week was the lack of movement we got after the Fed announced yet another 25 bps rate hike. Normally, these announcements will initiate some kind of massive move after the announcement, followed by a continuation of the overall trend.
This time was a bit different as the move was much more subdued. However, the next couple days brought some volatility back to the market. Looking at the S&P 500, we saw a pretty bearish candle form after the announcement. This would have been a nice setup for those who took calls after the selloff.
However, there wasn’t much confirmation given that we were going to head higher immediately following the opening bell the next day. On Friday, we weren’t able to break out through the resistance level on the S&P, however, there still appears to be some gas left in the market’s tank and with more companies set to announce earnings, there will be plenty more setups coming into play.
For now, the trend is still intact, but don’t get too comfortable. Be prepared for the off chance that the move higher is slowing. Does that mean a crash? No. But, as we have seen in the not so distant past, a pullback is always just right around the corner as profits are taken.
When you join my Smart Trades trading service today to see exactly how my students and I trade these types of scenarios! Smart Trades is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today and as always…