Don’t Get Bucked Off By Moody Market

2020-10-21

Talk about a choppy week.

Monday gapped down, Tuesday rallied, and today was flat most of the session before ending the day to the downside.

The moody market has a will of its own to do what it wants as traders try to pinpoint profitable setups.

The key is… don’t try to impose your will on the market.

You’ll turn out like a cowboy sitting in the saddle of a nervous horse — bucked off and flat on your backside.

The market exists in a constant state of changing personality. Traders who come to terms with this ever-evolving environment can increase their potential for success.

A market with this much uncertainty and volatility constantly weighing into the trade setup equation requires ever more patience from traders.

Everyone is searching for opportunities, but there is no rush to trade in this environment. To restate the elephant in the room… the market will be around tomorrow and another opportunity will come into play.

Simpler’s traders are taking advantage of opportunities identified through our indicators and internal signals. But we’re not stressing over “missing” today’s possibilities while we look to take advantage of upcoming opportunities.

In this market, look for the calmer ride and don’t try to wrangle trade setups that look like trouble.

We Saw: Markets struggling to rally before falling again — 

  • Mixed gains, losses among internet stocks
  • NFLX slips further
  • All three indexes closing to the negative

We’re Watching: Squeezes hidden in the volatility —

  • Patience for opportunities
  • If no plays today, watching for tomorrow
  • Setups in: PYPL, NKE, ATVI, TSLA