During today’s webinar, I spent quite a bit of time talking about the recent market developments and market structure. Because sentiment is starting to get a bit overbought and heated, everyone is asking, “Is a market pullback coming?” The answer, of course, is, “Maybe.” A pullback certainly would not be surprising given its current condition.
The SPX is near new highs, and the Nasdaq is right near the magical 5,000 mark – but neither could make a difference. Overbought is overbought. I did point out that the market turnaround over the last few weeks is just stunning; pulling out of the recent box it was stuck in has been bold and definitive.
Given the circumstances we find ourselves in, I discussed risk management and reviewed some rules and tools we need to be successful traders – now more than ever. I also mentioned some recent trades, results and new ideas we can use as we head into the last trading day of February. The audience had some really great, insightful questions.
