Yesterday I double-downed on a statement I made last Friday, namely:
“Presently, the upward momentum is broken.”
Then the S&P 500 opened almost 1.5% up this morning…
And as of this writing, it looks like it’ll be a good day for the index.
So the natural question is: How can I square that statement with today’s performance…
And the answer is, “a day does not a trend make!”
We put in a new low in the market and now we are seeing a natural rally…
And while there is no indicator that suggests any panic selling is on the horizon, there’s no doubt that we have a stall in the upward momentum we have been watching play out over the last several months.
I’m not suggesting that we should run out and take a lot of bearish positions…
But you also don’t want to take on a bunch of bullish positions based solely on today’s jump.
Instead, it is time for patience and caution!
I know you are likely tired of me saying that, however, that is the key to success in this market.
Remember, Options360 is up 41% YTD, and we still have a very exciting 4th quarter before we are done.
Keep in mind that the S&P is only up around 18% – so this is shaping up to be yet another year that we smash our benchmark!
Here’s the point, professional traders make money in this kind of market, and retail/inexperienced traders lose money.
That’s because we don’t jump too quickly. We take our time and wait for our spots.
Right now is the perfect time to take advantage of some expert coaching and trade recommendations, as you find in my concierge trading service Options360.
And even better, you can grab your trial subscription for just $19!
To Your Success,
Steve