The markets closed flat today after a small move lower yesterday. Market volume is still well below average, but we did see a small increase in yesterday's move lower. Although all three majors moved lower yesterday (by less than 1%), we are still in a strong uptrend. We haven't come close to threatening any major support levels. With just one more day left in the trading year, we don't expect any sort of major confirmation in either direction.
The markets will be closed on Monday, January 2, in recognition of the holiday. Take your time in scanning and building a watch list. We don't expect to see much opportunity until later next week, depending on how the markets react to the New Year.
We will NOT have a Trading Room this Sunday due to the holiday. Instead, we will see you next Wednesday, January 4, for the Mid-Week Update.
Happy New Year, everyone!
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.
