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Stocks ended higher on a choppy day

Like on a swing the stock traded up & down and they ended higher for a second day in a row. Also volume was rising at the end of the trading session. Are we heading back up to $120 level (SPY)? When browsing internet for the news, I am reading that we are not out of the forest yet and we haven’t seen the worst. I am looking forward to it!

Definitely the market (SPY, SPX) ended in the pennant (or also forming a triangle) and there is no signal at this point showing the future direction of the movement. During the day, it broke down several times, but all signals are formed by a session closing price! Not by intra-day movements! And today’s closing price is back within a formation or pattern. So, no direction yet.

This is the time for waiting for a signal. Will the market break the pattern down on high volume or trade upwards on high volume? I do not know it and we have to wait for it. Either way, whatever happens I will jump in and ride that movement as soon as it happens and confirms itself.

On a GLD note, I decided to stay in the trade. Right now, this iron condor will most likely expire worthless, which would bring me back the maximum profit. However, all can happen in this choppy market. If GLD during these upcoming 2.5 days spikes significantly up or down, I may lose money and this trade may turn into a loss. But that’s the game. I hope, it will not move and stay around $180-ish level.

Happy Trading!

5 responses to “Stocks ended higher on a choppy day”

  1. Clark says:

    I think this rally is doomed. Stocks will fall soon.

  2. Trent Yerger says:

    Great blog about stock investing dude!!

  3. Steve says:

    I genuinely prize your work , Great post.

  4. Stock Market says:

    Thank you for the great insight into stock trading. Is it possible to make such money in such a short period of time?

  5. Stock Market says:

    Than you for the information on the stock trading, very informative

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