Market Report the Never ending Rally

 Market Report the Never ending Rally

By

 

Todd Horwitz Chief Strategist BubbaTrading.com

Be Prepared not Surprised.

Last week markets were mostly flat to slightly lower however that is natural action for a market that has been parabolic. The rally has been huge over 10% since the September lows. The Russell is up close to 20% in the same period.

For now, nothing appears to bother these markets, soaring inflation, high taxes, and general unrest around the globe. This proves the market is the ultimate scorekeeper and is always right. You may not agree with the current price action, and you would be wrong.

We must remember, money goes to where it is treated best. Until further notice that is the stock market. News and noise are just that, the facts are simple and markets higher. The best advice for investing and trading is to ignore the news.

Long calls stay atop the leaderboard with Bull Puts and Spreads running second and third. The bears don’t show up until the four and five spot. However, we never know what that volume has on the other side of their trade, what appears bullish could be bearish.

The SPY, QQQ, AAPL, NVDA and TSLA round out the top five bullish symbols while the bears are chasing VXX (bullish), DKNG, AG, FSR and TAL. As we approach the end of the trading year, it is anyone’s guess what happens from here.

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