Tuesday, May 9, 2017

End of Day Post

The markets continued to consolidate at their current levels, with only the Nasdaq showing continued expansion. Although it is very slight, the Nasdaq continues to creep higher, mostly due to earnings results and some speculative investing.

There really isn't much out there to trigger a move higher or lower at this point. The markets could really use a catalyst since economic factors aren't giving any signs of expansion or a slowdown.

Continue to stay patient and light in directional exposure. There is no need to put too much to work here as the markets continue to consolidate. Short-term sideways is probably best over the next couple of weeks.

See you on Wednesday's Mid-Week Trading Room Update class!

Have a great night,

Your Maverick Trading Team