Telegram Trading

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Assessment: The slow bullish grind yesterday, but on very low volume. Actually yesterday was the third lowest volume day of 2024 in SPY. So, when volume is this low, it is tough to glean anything from the price action. I am actually surprised by the lack of volume given we are in the midst of earnings season which often always sees some repositioning.

McDonald’s missed earnings which put some pressure on the futures, however it was pretty minor. Since then the futures selling has accelerated. The catch is the futures are good at predicting the immediate open, but not very predictive on where prices will close for a given day. So, I look forward to seeing the price action and the volume come this afternoon.

Good luck in your trades!