Action to Take: Sit on hands - No trade today
Index futures just flipped red in the last hour of trading.
The market has felt heavy the last several sessions, which means we could see more of a pull back.
Hot Money action was lighter today, but I started to see a shift after lunch with more puts being bought then calls.
One of the best traits every successful trader is knowing when to be selective.
That means knowing when to sit on hands.
Our advantage is being nimble and picking our spots.
So, we’re going to avoid forcing any new trades today and practice discipline.
I apologize for not providing a new opportunity as I’ve promised, but it’s just smart to wait until tomorrow.
Keep an eye out for a trade tomorrow morning.
To your wealth, freedom & options!
Joshua M. Belanger