Market Report Bears get pounded

Market Report Bears get pounded

By

 

Todd Horwitz Chief Strategist BubbaTrading.com

Be Prepared not Surprised.

Just when the bears thought it was safe to get into the water, they get hammered once again. We watched about a three-day trend change and a resumption of the never-ending bull market. Markets finished the week with big gains and in an uptrend.

This week we approach a typical week that has been very bullish in the past, although that doesn’t mean this week will be. The facts at hand tell us that the trend is higher, that this is a triple witching expiration, and the odds favor a continuation higher

The option strategies were mixed last week with call buying remaining atop the leaderboard followed by Put buying. Overall, the strategies were mixed and indicate confusion not a bull or bear market. There was put and pit spread selling as well.

The Nasdaq continues to lead when the bulls are in charge with the top five symbols this week being AAPL, NVDA, MSFT, QQQ and RBLX. While the bears COST, SPCE, FSLR, BA and PLAY. We will have a better idea after this week is over

Remember, we can’t predict what’s next, but the price action will give indications and guide us in the right direction. All signs are starting to point lower however flexibility is the key to trading successfully.

As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control. 

Todd “Bubba” Horwitz

BubbaTrading.com