All three majors closed flat today after starting the day higher. The markets opened slightly higher today, but couldn't hold on to the majority of their gains. We are starting to see some consolidation forming in the INDU and S&P over the last few sessions. However, the Nasdaq continues to move higher, fueled by earnings results.
Volatility remains low, but the markets seem comfortable at these levels. It has been about five (5) days since we had the surge higher in these markets. Since then, we really haven't seen much. That being said, continued earnings results could play a part in the near future.
Keep an eye on earnings results. We can capitalize on stocks after their earnings announcements by looking for continuations of bullish and bearish patterns.
NOTE: There will NOT be a Wednesday Mid-Week Trading Room Update class this week! The class has been cancelled since the Maverick Trading Team will be flying to the Maverick Trading Summit in Chicago.
Have a great night,
Your Maverick Trading Team
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