The market has been a run away train on the upside since the end of December. We are now a stones throw away from all time highs which is a phenomenal reversal off the lows from late last year. Now the questions become:
“Are new highs coming?”
“Will this market ever reverse?”
These are questions that I have had to answer on a daily basis over the last few weeks. Even though financial media wants you to believe this is the new norm and the every dip will be bought going forward, it’s crucial to let that thinking impact how you trade. We know this is not the new norm. Markets will start to normalize and when they do we are in for some really great trading.
I do believe we are in for some decent trading as we get later into the week. In this week’s options outlook video I explain my outlook for the market this week. You will see some key levels that I am watching on SPY and I also take a look at 4 markets that I have my eye on for new trades.
Stay patient and trade small here this week until the market gives us better conditions to work with. Take a look at the video and feel free to contact me with any questions you might have. You can either leave a comment here on the blog or email me directly at firstname.lastname@example.org.