The markets continued to show sideways action at their current levels. The INDU and SPX continued to build high-basing patterns, while the Nasdaq continued to push higher. We haven't seen much change to volatility or volume in the last couple of weeks. We don't expect any real market direction without a catalyst.
There are some good trades out there, so continue to take advantage of what triggers. Be aware of earnings results picking up as we move towards the end of this month and into February. We will see 2017's first FOMC statement in about three weeks. Keep this in mind when selecting the time frames of any new trades that you are entering.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
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.
