For me, trading this market has morphed from an electric thrill to a tepid bore. The reason is simple: the nonstop threats/TACO cycle is exhausting, and making trading decisions that can be upended by the unhinged whims of a single man isn’t my cup of tea. It’s “Chinese trade talks are going well” all over again.
You can see the market’s bewilderment by way of the /ES grinding away with absolutely no clear direction for days on end…………
Considering the precipice our toes are all collectively poised over, it’s bizarre that as I stand here just before the opening bell, the entire market is essentially unchanged.
Over the three-day weekend, there have been three mains on the /ES chart:
Sometimes trading success comes from intense analysis, study, and speculation. Other times, it comes with a kind of “how the hell did that happen?” While I am not in this trade myself, it is shaping up so like a quiet sector that I wouldn’t have expected to show benefits from the current geopolitical climate. But shipping has been slowly rallying lately. And they are showing patterns that don’t look like they are just short-term blips. They are showing some decent basing for at least a medium-term swing.
