Futures were choppy throughout the morning as economic and earnings news have dominated the headlines. Much of the chatter has been mixed with good and bad company numbers and mostly positive economic news.
It has been a volatile week and perhaps today’s action stays tight as Wall Street prepares for a 3-day weekend. The market is closed on Monday in observance of Martin Luther King Jr. Day and traders are unlikely to commit long or short as the indexes continue to dance in a 4-week trading range.
Trading ranges can be tricky to trade so it’s best to limit your exposure until there is a breakout or breakdown out of a range.
The Dow is up 67 points to 16,483 while the S&P 500 is off a point to 1,845. The Nasdaq is lower by a 6-pack to 4,212.
We have some last minute updates for our current trades as we head into the second half of trading and we have a New Trade as well on a stock we have already made 56% on this year playing call options.
We could have additional Trade or Profit Alerts into the close in case the action heats up but if you don’t hear from us we will be back Monday night with the Weekly Wrap and Tuesday morning with the Daily. Until then, enjoy the 3-day weekend everybody!