The S&P and INDU closed above major resistance levels today, although only slightly. This was a pretty significant achievement for the bulls; however, at 2,100 on the S&P and 18,053 on the INDU, the achievement was not a very convincing one.
We are in earnings season and are already seeing some results, along with market reaction to them. Keep this in mind when researching new trades and trade setups.
Earnings season can make normal trading difficult. Take advantage of earnings-specific strategies, but don't get carried away and do too many. There can be opportunity to trade after results – allow a few days for a tradeable pattern to develop or a corrective action to take place.
Have a great night,
Maverick Trading
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.
