From the Desk of Kimmy Sokoloff
What I’ll be looking for today is if $SPY can hold on to the 425.50 area.
We need to defend this area.
Otherwise, we can head quickly down to 420 and then the 200-day moving average at 418.60.
Here’s what I’m thinking about as we approach today’s open:
- As of right now not much is interesting to me. I will see if there’s a counter-trend short in any oil names, like $XOM.
I’ll see you in the Live Trading Room at the open.
Here are a couple of key things to remember about what we’re doing here.
First, it’s important to be in the live chat. As you know, the market has been extremely volatile, and we’ll likely continue to see many ups and downs.
What that means practically is that I’ll update not just price levels but even particular names we’re watching as the market moves.
Second, please understand that the focus of our discussions is simply my opinion.
Your results will vary based on many factors and variables including execution, timing, and market conditions. All of these issues are completely out of my control — and yours as well.
Our mutual goal is to win more than we will lose and that, by adding some of my strategies, we’ll help you boost your overall success.
Remember, the market is on its own schedule and subject to change without notice.
We’ve had many questions about position and allocation sizes. I will never advise you regarding the amount of risk or portion of your assets you should invest.
All trades are at your own risk and can be discussed with your personal financial advisor at any time should you feel necessary.
Thank you for joining us, and I look forward to working with all of you!
And please reach out with any questions.
We’ll see you LIVE on the ASC Rangefinder app to start the trading day.
All Star Charts Team