About Traders Path

Peter's Monday Update January 13th

Good Morning,

The market is giving us a bit of a gap up this morning after we had a pullback on Friday. A big spot to watch today will be the high and the low from Friday. If one of those breaks we may see some short term direction, but otherwise it would just be an inside day and potential consolidation near the all time highs. I will also be keeping an eye on the VIX this morning which is gapping up slightly in the premarket with the major indices all green. Last but not least I will be watching the IWM closely which just barely gave a 3/8/20 cross down on the daily in a TTM Squeeze on Friday. This could easily bounce right back up here, but if it doesn't it might be our first sign of some weakness in this uptrend that we have been in. For my watch list today, I will just be focusing on the names from the weekly watch list.