Refresh Focus During Tricky Market Twists
The wobbly ride that is this market continued with an upward bounce across the board to start the week.
The major indexes were positive for the day with the Dow closing at 34,996.18 points to gain .36% (adding 126 points on the day). The Nasdaq dropped early before rebounding and closing at 14,733.24 points for a .21% gain while the S&P 500 eked out a .35% rise to 4,384.63 points.
How do traders work this market after markets close positive, yet technicals warn of a pullback… again?
Simpler’s team is in the same boat and is watching how the Monday “bounce” – essentially a flat day – plays out the rest of the week. Technical patterns indicate a selection of tickers may fare well with the next run into earnings with a big, “yes, but…,” tacked on there.
Here are some “refresh” actions to consider:
- Focus on a single strategy that fits your trading plan
- Don’t let stress from uncertainty affect trades
- Find a “rinse and repeat” pattern for consistent gains
- Update watchlist with tickers showing strength
- Stick to the plan – don’t be “emotionally” tempted by market shifts
We Saw: Surging consumer inflation concerns –
- Markets watching earnings reports this week
- Boosts in banks, travel, entertainment
- Rising interest in new frontier of space travel
We’re Watching: If flat Monday gathers steam into earnings or pulls back –
- Smaller plays with less risk to stay active
- Giving time frames time to develop plays
- Setups that might play into earnings