The markets closed in the red today, but not by much and with very light volume. We don't anticipate too much movement tomorrow as we head into the extended holiday weekend. The market's range should start to tighten up over the last couple weeks of the year. We would need some sort of catalyst to move very far from the current levels.
That being said, we could see some strange moves intra-day tomorrow. Keep in mind the overall volume and the fact that it will most likely be corrected later in the day or early next week. Don't get pulled into a trade based on intra-day movement. Keep an eye on the VIX since a low volume move can sometimes be mistaken for a spike in volatility.
We don't have a clear advantage in placing new trades here. So, it's a great time to spend with family, friends and eggnog.
We will NOT have a Trading Room this Sunday due to the holiday. Instead, we will see you next Wednesday, December 28, for the Mid-Week Update.
Happy Holidays and Merry Christmas!
Your Maverick Trading Team
Over the years, we have spent thousands of hours talking with our traders and answering their emails. We have a huge collection of really great information that only benefited the specific traders who we were interacting with. So, we decided to start sharing all of these gems of knowledge with everyone.
