Markets responded very favorably to the election results and it trapped me into doing something I shouldn’t have. No, it wasn’t staying in the trades I spotted this week. It was reading the headlines.

Very few talking heads expected this kind of reaction and it was amazing to see the endless ways they found to rationalize today’s bull move. As tempting as it may be to buy into one of those after the fact explanations, the answer lies in the charts.

As we talked about this morning traders have a lot to process as this plays out so we don’t want to count any chickens just yet.

Remember that trend we looked at? Still a down trend and the week isn’t over yet. Here’s the chart that shows it and a reminder on one trade that did awesome today.

Looking for side hustle income In Just a few minutes a day? Click here to see how other traders are doing it.

I am going to skip the headlines tomorrow and watch the charts. One that I was glad I was watching was Keith Harwood’s LUV trade from his video clip yesterday. His $2 calls he spotted jumped to $3.68 today. Not bad.

I will be the first to take the hit on this weeks trades, but I want to wait for this dust to settle before jumping to conclusions.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily