Welcome to the first official trading session for 2021.
After an extended weekend, stocks are weak to kick off the new year.
As volatility increases, so does our selectiveness.
Our advantage is being nimble and picking our spots.
The Tracker has picked up a few signals, but nothing that we need to act on today.
With that said, markets are looking to continue to push lower in the last hour of today’s session.
That means options premiums will continue to increase, which means we want to sit on our hands until tomorrow.
So, we’re going to avoid forcing any new trades today and practice discipline.
But no need to worry, because we’ve still got three more days of trading ahead of us and tomorrow will provide us some great opportunities.
I apologize for not providing a new opportunity as I’ve promised, but it’s just smart to wait until tomorrow.
That means, no-trade today.
Action to Take: No trade today
Joshua M. Belanger