Really a patience week coming up. As we discuss in the video, nothing has changed, except the market is gathering energy for a move. We have run to get to the resistance area discussed for several weeks. We are still in it. The consolidation doesn’t yet favor bulls but it does give them a better chance then they had 5 weeks ago when the sideways started. The conclusion is now is a time for patience. That is probably the number one psychological obstacle to overcome while trading. Patience. Now is the time to continue to have it.

Let an ex-Wall Street Insider do your homework for you. Use Joe Duffy’s uncanny market analysis to spot trades again and again. Check it out here

In terms of positions I exited my AAPL spread at breakeven last week before earnings. My SPY spread needs some help. My TSM position is thus far one day underwater from Friday’s action. If the market moves lower the latter can be regained quickly. If not, I’ll be exiting TSM. 

Thanks,

Joe