This is no time to celebrate just yet. We need to lock in the gain and look at what we can expect next. The SQQQ Calls came just shy of doubling today. Two very important things to focus on right now. First make a note that backing up to look at the longer trend is what got us two wins in an incredibly wild market. That is going at the top of the list of trading rules, underlined and in bold.

Second, now what? With the VIX spiking to 25 unpredictability is the only guarantee we have. A rapidly rising VIX however does favor a falling market. After locking in the win today we can see if tomorrow’s open confirms the downtrend or if we get any kind of rebound.

Oil creeped up a bit today and even though we exited the USO trade, we may want to look at that again with a different strike. Be sure to check your inbox tomorrow morning and we will let you know what we see.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily

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