Market Weakness

overall market outlook, gap-up analysis, trade expectations

I expect the market to see some early weakness after the drip lower into the close yesterday. We have had a nice run but we can expect some digestion either by price or through time. Look for stocks to find some support, do not initiate long positions until there are signs of buyers.

Small gap up coming into the open. I would expect this to get filled, establish support, look for small bounce.

Do not overtrade today, short scalps might be the best opportunity. I would not suggest long entries until clear support and buyers have been estbalished. Today could easily be a gradual drip/sideways mess to the close.

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Evan Medeiros

Evan is the founder of the Trade Risk. With 20+ years of coding experience and a B.S. in computer science, Evan brings a systematic discipline to investing in the stock market.

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