Trade Plan for 12/03

Can We Please Make Volatility Great Again?

The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to The Week Ahead

Be sure you have read the Trading Doggy Style Starter Kit. I will be adding to this over time, likely first focusing on example executions. Trading Doggy Style Starter Kit

We indeed saw QQQ 0.00%↑ strength today which kept SPY 0.00%↑ in grind higher mode.

If you watched the video the overnight session held 6035. We were expecting dips to be bought in the 35-40 range and low of night was 6036. Unfortunately for cash hours traders the action was quite dull as we opened very near Friday’s high and only traded 8.5 handles above it at high of day. The entire range of the cash hours session was less than 20 handles.

NQ was a much cleaner trade today and respected the levels quite well.

This type of intraday dispersion/rotation is likely to continue as long as volatility remains low. IWM 0.00%↑ and DIA 0.00%↑ we’re extremely weak at the open as QQQ 0.00%↑ ripped higher. IWM recovered nicely, less so for DIA.