While the Wall Street pros took an extended vacation, we knew putting in a half day’s work last Friday would pay off. Since we LOVE what we do, watching and trading the market isn’t really work and we had fun as we listened to some office tunes and fiddled with our new xBox One. Even better, the bears gave us just enough clues to prepare for a pullback. This is one of the reasons we cover support and resistance every day and why we work every Sunday to stay one step ahead of the crowd.
The 20-Day MA’s have held up well since mid-October and haven’t been threatened – until yesterday. Today will be an important test for the bulls and with Nonfarm Payrolls due out on Friday, there could be a major move forthcoming. With everyone and their sister expecting a major pullback, the market is ripe for a selloff but the bulls have made fools of the short sellers all year long.
If you are not a subscriber but would like to get more, real-time trades, please click here. We are one of the fastest growing stock options trading advisors on the internet. We offer 2-3 powerful call or put option trades each week (depending on market conditions) aimed at triple-digit returns for our Daily newsletter and our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis. If you are new to options or have questions on our style of trading or subscriptions, give us a call to speak to a live trader during market hours. Call us now at 804.349.4466.