SPX Weekly Trade for January 5 NO ENTRY THIS MORNING.
The bears have come out in full force at the open this morning; as of this writing SPX is -15.00 points. As of the close yesterday, the one-day standard deviation is 14 points; so this move is outside the guidelines for a new weekly trade entry.
If the market does not fall back within the guidelines, I am not recommending a new weekly trade for entry today. There may be another chance for trade entry on Friday.
I will monitor the market during the day today, and post if I feel it has settled down enough to recommend entering. Otherwise, I will look to enter tomorrow.
As always, trade carefully and stay keen on your risk management.