Trade Plan for 12/10

Are you there Santa?

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

SPY 0.00%↑ We were rather cautious into this week as outlined in the weekly plan.

Somewhat annoyingly the short setup played out overnight. Overnight bulls attempted a defense ahead of the open but action after the open was almost straight down. Once there was clean traction below the overnight low and Friday’s low, patience and selectivity would be required for any short frame counter trend longs.

At this point we need to see where buyers step in to defend this recent trend. In the mean time, two way trading is reasonable.

Today had a small spike down into the close which makes the first move tomorrow somewhat more easy to navigate.

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