Markets often move in the opposite direction
of 'expectation", causing traders to be tossed into "trading chop"
just prior to the release of an important economic number.
That heightened volatility in the very short term,
can cause all kinds of trading mistakes or as they say in tennis" unforced errors"
Tomorrows job number,
and next weeks CPI and PPI releases will certainly
move the market dramatically in either direction.
So rather than getting caught up in the back and forth prior to those releases,
good seasoned traders will simply step aside, and go flat in position.
They know that the real market move is coming
and will simply wait.for the "dominant" trend to assert itself.
So avoid the trading chop.
It's a big key to success as a trader over the long term.
Know where the big numbers are.
Trade profitably around them,
but most importantly,..WAIT.. until it's "time" to trade.
SPX
Primary Trend Resistance = 4000 !
Note this mornings failed rally attempt above it.
SPX NOON EST OPEN 3993.62
THE_UNWIND
WOODS OF CONNECTICUT
of 'expectation", causing traders to be tossed into "trading chop"
just prior to the release of an important economic number.
That heightened volatility in the very short term,
can cause all kinds of trading mistakes or as they say in tennis" unforced errors"
Tomorrows job number,
and next weeks CPI and PPI releases will certainly
move the market dramatically in either direction.
So rather than getting caught up in the back and forth prior to those releases,
good seasoned traders will simply step aside, and go flat in position.
They know that the real market move is coming
and will simply wait.for the "dominant" trend to assert itself.
So avoid the trading chop.
It's a big key to success as a trader over the long term.
Know where the big numbers are.
Trade profitably around them,
but most importantly,..WAIT.. until it's "time" to trade.
SPX
Primary Trend Resistance = 4000 !
Note this mornings failed rally attempt above it.
SPX NOON EST OPEN 3993.62
THE_UNWIND
WOODS OF CONNECTICUT
Comment:
Thursday March 9,2023 6 PM
KBW Bank Index Fell 7.8 % today, it's worst day since June 11,2020
after Silicon Vally lender SVB Financial Group (SIVB) plummeted today,
causing investors to question bank related portfolio's !
THE_UNWIND
WOODS OF CONNECTICUT
KBW Bank Index Fell 7.8 % today, it's worst day since June 11,2020
after Silicon Vally lender SVB Financial Group (SIVB) plummeted today,
causing investors to question bank related portfolio's !
THE_UNWIND
WOODS OF CONNECTICUT
510 PM Update
S+P 500 sold off sharply this afternoon,
Breaking Below, and then Closing Below
BOTH
50 Day Moving Average at 4000, and the 200 Day Moving Average at 3940 !
KST Indicator now "rolling over" to the downside ...
on the price break this afternoon !
S+P 500 CLOSE 3918.32 -73.69
THE_UNWIND
WOODS OF CONNECTICUT