[image]() [image] This Week in the Market It was not a good or bullish start to 2024, but stocks did their best to keep the ship from totally sinking. During a once again short week for traders, only the Dow was able to hold its own and Nasdaq took the brunt of the pullback. The major indexes, including the Russell 2000, are still trading well above their 50-day and 200-day moving averages. The lack of buying on these pullbacks may be cause for concern for bullish traders, but most major support levels still seem to be in place. A wait and see and neutral outlook would be prudent heading into this week. As you may have suspected, implied volatility levels ticked up a tad. Traders and investors will have a full week of trading after a couple of short weeks in a row because of the holidays. Another short week of trading is back the following week in honor of Martin Luther King Jr. But back to this week, there are several economic reports scheduled, including a couple of inflation numbers, CPI and PPI. In addition, at least one Federal Reserve speaker was on the docket at the time of this writing. Quarterly earnings are also starting with several financial institutions expected to report. Have a healthy, safe and spectacular week! Jan 8: Consumer Credit
Jan 9: Trade Deficit
Jan 10: Wholesale Inventories
Jan 11: Jobless Claims
Jan 11: Consumer Price Index
Jan 11: Budget Statement
Jan 12: Producer Price Index [Read Our Blog](=) Spend Your Time Wisely as a Trader Becoming successful and profitable as an options trader takes hard work and a lot of time. If you trade options, and I assume you do, you already know this. As I like to say, management is the most important part when it comes to trading. But having a better understanding of the time required behind the scenes of options trading, and how to manage it wisely, is key too. Trading Is a Business I often make the comparison between someone who is starting a restaurant and someone who is trying to be a profitable trader. A person just does not open a [Continue Reading â¦](=) MTM Watchlist Here are a few trade ideas we will most likely look at in group coaching class this week: SPY â It was the sound of sweet profits on credit spreads and iron condors this past week. There will be more opportunities this week too. AAPL â A successful put calendar this past week could be another opportunity as the stock continues to sink. The 200-day moving average looks like a good potential level to consider. HD â After a large pullback, the stock was able to form an engulfing bullish candle on Friday. With a bullish move on Monday, bull call spreads will be explored. [image]( The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by emailing investorservices@theocc .com; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2024. All rights reserved. Reproducing or redistributing this content is a violation of federal law. [image] If you do not wish to be contacted via email, you can unsubscribe using this link: [Unsubscribe]( Unsubscribing from email notifications DOES NOT cancel your class, subscription or recurring payments. We recommend that current students do not unsubscribe from email notifications. If you unsubscribe from email notifications, you will not be notified on how to access the classes or subscriptions in which you are enrolled. Market Taker Mentoring, Inc. PO Box 117 Frankfort, Illinois 60423 United States