All three majors lost ground today, but it is the INDU that is starting to show some real weakness. The INDU closed below previous support of 19,750 today on average volume. That makes five sessions in a row where the INDU has closed lower. The Nasdaq and S&P are still in consolidation patterns. So, outside of this current test of support by the INDU, nothing has really changed.
January monthly options expiration is tomorrow, so make the necessary adjustments to your portfolios as we move into February. Keep checking earnings dates on any setups that you come across over the next couple of weeks.
See you on this Sunday's live Trading Room 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.
