Another volatile day in the markets yesterday (Tuesday) as they continued to show instability at the current levels. We have broken below the upper channel support levels and the 50-day MA, signaling an end to the current up trend. However, the markets are not down trending here, but still in a corrective action.
Continue to stay patient and follow your trading plan. If a stop is triggered, then close your position. Remember to follow your rules and try not to react to any one day. Anything can happen over the next few days, keep in mind September's expiration is Friday this week. We want to allow for our positions to give us the most they can up until expiration.
See you on today's (Wednesday's) Mid-Week Trading Room Update class!
Have a great day,
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.
