Aug was a “bipolar” month. First, we have a run of near 6% in 12 trading days and later are experiencing a -7.8% in 12 trading days. If today we end up having a flat day the SPX is likely to end up negative for the month and near -16% for the year. It is
July 21, 2021 12:37 pm by randholm
If the market is not trading lower I need to admit that I was wrong. It has cost money. Maybe is a new risk on stage. Bears are not strong enough! Asia, Europe, and the Americas showing a risk appetite that does not match last week’s sentiment at current levels.
Of course, I can be wrong. As a trader, my goal is to make money in all market environments. The tools and data that I trust to make trading decisions are telling me to add exposure. I will be adding stops at the lows just incase I am wrong
This week is packed of key earnings. The SPX closed right at the Feb 2020 high. I think that by Dec 2020 the index will be higher but of course I can be wrong. I am not taking large risks because options premium and volumes are not high enough yet. We got significant selling pressure