Slow Action Today

Afternoon Scoop

The market started the day relatively flat, with some movement before eventually pushing higher. However, we experienced an almost full retracement back to the morning lows before pushing higher again. The market then resolved in a range for the remainder of the afternoon, I made the mistake of waiting for another trade throughout the day it almost put me to sleep. 😴


S&P 500 futures 1 hour chart
  • S&P 500 futures update:  Futures held up relatively well and appears to be poised for a potential push higher. However, we’ll have to wait and see if overnight traders can hold these prices or if we’ll experience a drop in the morning instead.
  • Forecast: Today’s market activity was relatively calm compared to the recent news headlines. Particularly, the technology sector looks strong and appears poised to continue its upward trend. However, it’s hard to predict how much movement we’ll see between now and the FOMC meeting.

Daily Wrap-up

That’s all for today, nothing too eventful. Unfortunately, I took a couple of losses today and ended up 0-2. I thought I saw an opportunity to take a short position, but it was against the trend. I keep making the mistake of taking these higher-risk trades instead of following the trend and giving myself a better chance for success. However, we can learn from these mistakes and move forward. I’m excited to get back at it tomorrow and improve my performance.


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