Good morning and welcome to your trading week! All US markets are pointing to a slightly lower open this morning, ES_F is down about 2-3 points as I write this. Going into the weekend I was confident in a red Monday, so I am short which hopefully makes for a good green day for me.
Like I have mentioned before, every Monday in 2013 has closed red. An interesting note is an analog associating March 2012 with March 2013. March 2012 opened on a green candle, and then sold off rather hard for a few days, ending down about 2.5%. Will the same happen here? As you know, I think that is more likely than more upside.
Historically speaking, March is a green month - the calm before the usual volatility after tax day going into the summer months.
SPY is pointing to a slightly red open, -.20 points or so. Neutral. A move above 153 would be bullish, a move below 150 would be bearish.
Bonds are roughly flat to slightly lower. Neutral
EUR/USD is weak again, and wrestling with that 'mental' number of 1.30. Bearish
I plan on entering all my trades today in the chat box in the right margin of this blog. I will also enter specifics on entry/exits on my trading spreadsheet the reader can access at the top of this site.
Participate if you would like! Or comment below.
Good luck today traders!