I see a lot of talk on whether the S&P is in a bull or bear market and IMHO, neither the bulls or the bears have control right now. I think this is a 2-way tape frustrating a lot of bulls and bears. In this video I share my simple process for assessing how we are in a 2-way market, not a bull or bear market and how I am using Anchored VWAP's to keep me out of trading the middle and keep me trading the edges. As of right now I am looking at 4375 to get tested in the coming day(s) where I will look to establish a long position. If that holds I will look for a retest of 4444.50 and potentially a rally up to 4526. A daily close below 4375 I would be out of my longs and then I think that the bears have a chance to take control of the market.
Past performance is not indicative of future results. Derivatives trading is not suitable for all investors.
Past performance is not indicative of future results. Derivatives trading is not suitable for all investors.
Comment:
The anchored VWAP off the low of the year held today and is holding so far overnight. I played off it today, but didnt keep a position. This market is a lot of back and forth and I don't care if I miss a rally back up to the other anchored VWAPs in the overnight trade. For now my plan is to keep watching that area and look for longs down there until I see a daily close below it. If that happens, I turn bearish.
