The SPY is just torturing traders right now, we have been in a tight range for the last 2 months, all dips are shallow and all gains are instantly faded. In environments like this if you’re not in commons and you’re not selling premium you are likely very aggravated. We have a big announcement from Trump this afternoon that we will have to wait on but oil, rates, and the vix are up nicely today pressuring the market. We discussed this ad nauseam recently there isn’t much to say, the market clearly wants to go up, we’re in a nice bull flag here but it just cannot fight this wall of worry forever. We need an Iran deal, that would flush oil and rates to allow the breakout that everyone is looking for. Until that happens, this is just going to be a tug of war on a daily basis that is going to chop you up.
Scanner
Here are today’s large cap momentum scans from the database. All the other small and mid cap scans can be found in the database link below.
My Open Book
Trades I Made Today
