Good Morning traders and Happy Monday!
This morning I get the feeling we are diving into a bit of an unknown with a new President at the helm and his promise of lots of changes in the first week. Currently, futures are slightly bearish but I think anythings is possible. Futures were slightly more bearish overnight and we could easily move lower right at open to testing the overnight lows so be very careful this morning.
There are a few earnings this morning that could move the market but there’s nothing but bond auctions on economic calendar so we can’t look there for inspiration.
I think we need remain a little cautious until we see clues to a direction forming. I will also expect volume to improve and would not be at all surprised to see some additional volatility. I plan to take ti very slow this morning.
Note, that Saturdays E-Learning video was posted to the website on Sunday if you didn’t have a chance to attend. We talked about shorting and hedging with rules of the trade.
Trade Wisely,
Doug
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