Today is Wednesday and we saw moderate gains again for the S&P (+6 points) and Dow Jones (+44).

The last two days the market has marked time by moving sideways for the most part. During this quiet time there has been a lot going on, even if it does not look like it. This quite time is just what needs to happen.

When you sit down for dinner, you eat, enjoy and wait to let you food settle. Well, the market has been settling it’s meal and I think it is hungry again, or that is what it looks like to me. I think we are ready to see new advances for the Thursdays session. This will be keeping with the spirit of surprise and amazement as this market just seems to not want to quit, or that is what they should be saying soon.

We should rally on Thursday, or at least that is what and how I see it. I could be wrong, but I see S&P at 1140 somewhere in Thursdays session. Currently in the aftermarket the market is going the other way. Here is a case where I believe we will see the market come back and sometime during the early morning session, we should be pushing into new high ground. That call would be the normal and natural move for this market Will we come back up several points to reverse and go higher into the morning session, time will tell. I could be w
rong, so don’t go out on a limb here on my say-so. I have been right so many times in the most recent past and will get a better idea by tomorrow mornings open, but I may not be up at that time to really comment.

I am just getting back home from a short trip to the S.F. Bay Area. It is about 310 miles one way to where I usually stay with family when I travel that way. It takes around 5 hours with most of the way traveling at 70 mph. Currently its 12:30 a.m. on now Thursday morning, so again, I don’t see myself hitting the morning session tomorrow. In addition, my wife has family visiting, to help us celebrate my 48 birthday on Saturday, not that its a big deal, but what the heck, why not.  Sorry there, I got off a tangent, I must be a little delirious from all the driving.

I did not get a chance to trade yesterday, but I did squeeze in an hour or so of trading today making some very modest gains. I have a screen shot below of all the trades I took today.

I cant’ say to much more, so I will end it. If day trading, be nimble and don’t get to strong on any one direction. The market can do what ever it wants. Just read the action and go with it. Trade timing is key, so trade with the rhythm of the market if you can find it.   Good Trading, Vince

Related posts:

1. Commodities & Stock Market Ready to Move
2. Market getting ready for Huge Move
3. Main Market Move Completed in S&P 1280’s
4. Market Ready for Continued Advance
5. Is the Stock Market pausing or ready for Sell Off ?

Tags: market ready to move, S&P 1140, trade timing