Morning Perspective

S&P500 futures are slightly lower to start the holiday shortened week.  Morning weakness in 2017, and almost every other year since the financial crisis, more often than not morphs into afternoon strength.   It's safe to say it won't be any different today.

Volatility remains low, as evidenced by the terribly narrow trading action as of late.  The market isn't moving much intra-day -  a historic lack of movement.

And despite all the fear mongering and headlines, the 'fear index' last week had a top five all time close.  As in, it closed as one of the lowest levels ever.

Yet the more widely followed market pundits contend we are still just days away from the end of this 8+ year bull market.   Days have turned into months, and months have turned into years, however years later we remain just  days away from the end... if that makes any sense.  The bearish commentary continues to be bullish for this market, a market that has defied every named reason to sell, even a possible impeachment.

The S&P500 has recovered all the losses from the Trump impeachment and has now risen 7 straight sessions.  Will we see an 8th today?


S&P500 futures:

Small caps have been lagging the move, however $IWM remains in a channel and looks poised to beak to new highs.

Small Caps:


and the leader to record highs has been tech.

The market continues to march the the beat of its down drum.   A drum that continues to beat to higher prices.  And while there are a zillion reasons to sell, the price action continues to provide the only answer.


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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