As I’m getting into today’s premarket research I’m reminded why, as a society, so many of us suffer from anxiety. Headlines do a complete reverse from yesterday’s selloff “warning” by giving bullish sentiment today. These articles are all over the place at the turn of each day. Before I go off into a rant, yes there is bullish activity so far in today’s futures session for the broader markets. However, it’s less than a 50% retrace from yesterday’s selloff. Completely normal price action. We cannot expect the market to drop straight down or shoot straight up without some retracement.
On another note, another day of major earnings that should give the S&P 500 some volatility. Amazon, Twitter, America Airlines and many more are set to release their earnings today. Plus, Economic Calendar showing two significant events at 08:30 and 10:00 EST.
Premarket volume check showing another day of strength with NQZ18, CLZ18 and GCZ18 above the 100K mark. Crude oil futures experiencing a nice bull run that started in the Euro session. Gold and Euro forex futures pretty much trading sideways. As of this writing, 6E seems to be opening up to the long side.
Stay calm, plan the trade, and trade the plan.
Total Profit $440
- TST = $440
- AMP = $0 (no trades) – testing automated trading system
Comment below with your opinions and questions.