Hey Guys,
The market is still bouncing all over the place. Yesterday, in the later part of the day, it had a huge surge, but then fell all the way back down. This morning, the market started up, but now the S&P 500 is back down to 5,020.
Here's how the chart looks for the S&P 500:
Earlier this week, I talked about how the S&P 500 chart was setting up for the "reverse" of my normal trading strategy. And it's interesting how it did indeed end up going down after reaching that moving average line on Monday, as if the blue line were a ceiling. Let's see if it can pick up some steam and bust through that blue line at some point soon.
There have been no new trades yet today, but my WPM option position reached its time limit today. That means that later today, right near the end of the trading session, I'll be manually closing the position unless it reaches its profit target first.
If you have any questions or feedback, I'd love to hear from you.