2017 Is Going To Be A Great Year For Trading – Here’s Why
Posted 9:30 AM ET - HAPPY NEW YEAR!
This was a boring year. The market was stuck in a range for most of it and the summer doldrums felt like they would never end.
That is all changing. The S&P 500 is at a new all-time high, Trump is unpredictable and interest rates are on the rise. Uncertainty means volatility and that means great trading in 2017.
Look for a quiet end to the year.
I mentioned precious metals in my comments yesterday and boy did they run. We caught lots of nice trades in this group in the chat room. Gold should take a breather today.
The SPY is below $225. If it can grind above that, favor the long side and use that as your stop for longs.
I suggest keeping your powder dry today.
Bid/ask spreads are wide and the volume is light.
Traders will be back next week and a slew of econ data will provide lots of action.
May you be healthy and prosperous in 2017!
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Daily Bulletin Continues...