August 20, 2017

Patience, Patience, Patience

As we all know patience is a virtue and the market is certainly testing the bears patience right now. All of the short-term indicators are pointing towards a short-term reprieve, yet the bulls have been able to keep the market afloat amid extreme overbought levels.

The last three days have seen the market basically move sideways. This can be frustrating as a swing trader particularly when the Mr. Probability is leaning so heavily towards a move lower. I am still holding my position(s) and will do so until a either see a sustained move to the upside or a move that takes the S&P (SPY) down to a level that closes the gap from Monday which is around the $111.60 area.

I just wanted all of you to know that I have a few remaining spots left so if you are interested in joining my newsletter please let me know. I want to keep this as a sort of boutique style newsletter so I can easily manage emails and remain focused on my trading. As always, if you have any questions, comments, or feedback please do not hesitate to email me.