The big buildup into the all too spooky Friday the 13th was not to be. As discussed in yesterdays post and video, the down day that occurred was in my opinion a day early and a dollar short.
Sometimes the best trade is the “no trade.”
However, you can always find a positive in the situation. Because the chart pattern did not set up in our favor, we didn’t take or issue a trade alert.
All along during the week, I mentioned that Friday will most likely be a turn day, but if the market sell off into Friday, the likely scenario is for the turn to be up. This is exactly what happened.
Next week is quadruple option expiration which means there is blood in the water. You might want to stay in the boat unless you see some real juicy swing trades that scream right in your face.
In the video below, I cover gold, oil and the interest rate market along with the stock market and some select stocks that have the potential for nice moves between next week and the week after.