ES Morning Update January 16th 2020

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Well, I hate to repeat myself so many times, but the market is up again this morning... not huge, but up never the less. The 3300 level on the SPX will be taken out on the SPX at open it appears as the ES Futures are already above it. Next week still has the highest odds for a top and big drop to happen. The market is closed on Monday for Martin Luther King day, so it will be a shortened week.

How many times in the past has the market made important turns around a holiday? A lot is the simple answer. Until then there's not much to do as today (and probably tomorrow as well) appears to be another slow grind higher, and without fast swings up and down it's hard for option players to trade this. It could be done if you already entered yourself in net long position some time ago, but that's not the case for me (unfortunately).

I'm still on the sidelines waiting for the south bounded train to arrival, and next week is the expected schedule date, with Tuesday being the most likely one. Hopefully it shows up safely and on time as the northbound train is close to running out of track I hear... LOL. Have a wonderful day and don't let stress affect your life. God put us here to love and nothing else matters. 🙂

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