Hello,

Given yesterday afternoon’s developments and those that followed this morning, we thought a brief update was warranted.

In our newsletter and in our webinar, we attempted to make it clear that this is a news-driven market that’s currently trend-less.  That remains the case even now.  The Wall St. gang elevated stocks after the FOMC minutes which came after a Trump tweet sent the futures lower in the morning.  That tweet’s subject was North Korea and the looming summit.  As of this morning, Trump has announced that the US is pulling out of what would’ve been an early June summit with NK.  That news sent the major indices lower.  So, to put things in very precise terms, we’re “ping-pong balling” back and forth to NOWHERE!

Times like these can be frustrating for swing traders because there’s no trend for us to hook on to for profits.  It’s best to NOT LOSE during times like these by forcing trades on when and where we shouldn’t.  Frankly, we’ve had enough of this market doing nothing, however, as long as Trump continues to handle things with this staccato management style, we have to be even more on guard for reversals.  Thus, rolling, becomes even more important when opportunities do finally present themselves.

We’ve scanned and re-scanned, but there’s simply not much out there at the moment due to us being trapped in this narrow trading range to nowhere.  We have to go back to last Fall to find a period this dull and devoid of safe opportunities, so, it’s been a while.

We’ll keep trying but for now, we leave you with this picture of nothingness:

Sincerely,

Wayne