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Balanced market day 4

overall market outlook, gap analysis, trade expectations

Do not overthink this market. Traders can extract all types of analysis and thoughts from the recent action and quite honestly it is really simple. We are in a range bound, balanced market where both buyers and sellers are finding value in initiating trades. Fading the extremes has been working. I am not claiming it has been easy, as it it is always more difficult to act in the moment then analyze after the fact. Until we see a definitive breakout or breakdown similar to what we saw on November 7th then I will be focusing on this approach in all stocks (as most are in this balanced state) specifically on my entry position,  and not chasing the excitement.

30-Minute key SPY levels
  • $SPY support at 137 – 138. recent support zone where we have seen buyers step in.
  • $SPY resistance at 139 – 139.5. recent resistance zone where sellers attack..

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