Trade fears have tapered some, and the US response to the Syria chemical attack has take place, and the market is trading higher today.
Honestly, if you had to pick a time for a missile strike, Friday night would have been the most preferable time for the stock market. You avoid that massive knee-jerk reaction in equities because the market is closed, and as a result, the market has a couple of days to digest the news and see what the international response will be before the futures market opens on Sunday night.
And that is exactly what we got too!
I’m sure that wasn’t a coincidence either.
Nonetheless, the market is holding its own so far today, and toying with the idea of testing the 50-day moving average on the S&P 500 (SPX).
Below I have put together a lot of my favorite trade setups for the week ahead. There are a lot of energy plays on the list because, right now, that is the market’s hottest sector.
With this market, trading less is better. We have seen a huge number of reversals from the market of late, so getting heavily long on this market at this point, isn’t the right take by any means.
Take small steps with this market. Being aggressive will ultimately leave you caught on the wrong side of the trade with a number of losing positions.
Here’s the bullish trade setups to follow:
No Comments