Junior Trades, Man the Fort! July 4 Holliday Week

With Monday being a short trading day and Tuesday markets being closed, I am expecting volume and much of the market moves to be subtle. Many trading firm allow their senior traders to leave for the holiday week leaving junior traders to man the fort.

With Monday being a short trading day and Tuesday markets being closed, I am expecting volume and much of the market moves to be subtle. Many trading firm allow their senior traders to leave for the holiday week leaving junior traders to man the fort.

As we head into the earning season and the start of a new quarter, I am expecting a roller coaster of a quarter. Fridays market close may be the topping of the market as short sellers have been covering position according to the Commitment of Traders report.

As you can see, the number of Large Speculators and Small Speculators that have been short the SP500 has declined since its peak on June 13th report. As short sellers close out their positions, there will be less “push” higher in the SP500. Yet in the Dow Jones Industrial Average has seen an increase in the number of Large Speculators and increase in long positions by Commercial Traders ( market makers, etc.). This is a bullish move for the DJIA.

Conclusion

Tech’s run since the beginning of 2023 maybe coming to a slow down. With earning coming out this month, big tech will be in the spot light. Name of the game is to keep your profits. Don’t be greedy.

Checkout my Sunday Trade Plan Video for the Week of July 3, 2023 .

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