Hey Guys,
The market is down this morning relative to where it ended yesterday. The S&P 500 is just about 3,700 right now.
I have a chart here of the MES futures again (which correlate with the S&P 500):
As you can tell, that breakout setup we looked at yesterday never broke out. It doesn't mean it won't eventually get some juice though. The current price level might actually serve as a type of support. If the market rebounds upward from here, that might improve the odds of an eventual breakout. The market is volatile though and could go sharply in either direction.
There are no new trades today. My watch list for the main account and options account is thick right now though. There is a ticker for the low-priced account that I'm watching too: IRDM. I have a buy limit order set up for it at 46.54. It's relatively close to that level right now, so that might fill later today.
I closed my stock position on TCOM today since it reached its time limit. That one booked a mid-sized loss. That ticker didn't move in direct correlation with the rest of the market, so it didn't benefit from the upward market movement over the last week.
If you have any questions or feedback, I'd love to hear from you.