Today's Trading Plan: Finding a Direction

Founder of Share Planner • Aug 23, 2016 at 10:28 AM EDT

The S & P 500 is undergoing an eleventh straight day of extreme consolidation while holding support levels. With interest rates potentially about to be raised in the near future, the markets appear to be in a wait and see mode.

Technical Outlook:

My Trades:

Added a long trade to the portfolio yesterday: HUN at $16.72.
Closed BIDU yesterday at $173.94 for a 0.5% loss.
May add 1-2 new swing-trades to the portfolio today.
Will consider adding additional short positions to the portfolio as the market warrants it.
Currently 50% Long / 20% Short / 30% Cash

Chart for SPX: