In Trading This Week

THE WEEK

The Price Action of the Market is still battering its head against the 52-week high.  It can’t seem to break out of the strong resistance area.  Note:  The maroon line is the 52-week high on both the SPX and NASDAQ below.  There was not much of a reaction by traders on the economic news this week with both the Consumer Price Index and Producers Price Index reporting.  I truly believe traders are getting numb to over three years of a bad Market and are just ready to move on.

LOOKING AHEAD

This week there are no major economic reports looming.  However, this week will see the starting of the heavy Earnings Seasons.  It feels like everyone is just on hold waiting to see how companies preformed in the 4^th quarter of 2023.  

HOW AM I DOING?

It was a good week.  On Thursday we had the kick-off to this quarter’s Quantum Trading Group.  In anticipation I had closed out most of my trades in my live trading account I use for teaching.

As everyone in the Investing Buddies family knows, we are testing and fluffing out a new trading strategy developed by a gentleman in our group.  Larry is a very good trader who has come a long way since we first met.  It is really exciting for me to see folks in group starting to excel in their thinking.  This has always been my number we goal over the years – that you become a Thinking Trader.

DEEP DIVE

This week we are going to focus on Trade Management when a trade goes awry.

Our specific focus will be on our new ICE MAN strategy and its management.

Be sure and sign up for the Investing Buddies Webinar on Thursday!