Markets sold down on Thursday and Friday to mark two distribution days in a row, and closed out the week down over 1.5%. Now Nasdaq futures are off over 2% tonight as news of the Russian invasion of Ukraine hit this afternoon. I feel like a broken record, but quality setups are still scarce and this market is still only conducive for the very quick trader. I’ve seen some decent day-trade setups that yield 5-6% on 2-3% risk, but holding overnight is risky in this gap-up-gap-down environment. The indexes will need to stabilize a bit before I scale back in with size, which might happen sooner now that the Russia news is official and known.
The Next Market Leaders - 2/21
The Next Market Leaders - 2/21
The Next Market Leaders - 2/21
Markets sold down on Thursday and Friday to mark two distribution days in a row, and closed out the week down over 1.5%. Now Nasdaq futures are off over 2% tonight as news of the Russian invasion of Ukraine hit this afternoon. I feel like a broken record, but quality setups are still scarce and this market is still only conducive for the very quick trader. I’ve seen some decent day-trade setups that yield 5-6% on 2-3% risk, but holding overnight is risky in this gap-up-gap-down environment. The indexes will need to stabilize a bit before I scale back in with size, which might happen sooner now that the Russia news is official and known.