Life as a trader can be so much easier if you don’t try to intellectualize the movement of prices. Prices move higher when there are more aggressive buyers than sellers and lower when the sellers are more aggressive than the buyers. We can try to reason why the buyers or sellers are in control at any time, but why isn’t always so obvious and is often misrepresented in the media.

My consistent focus is on price action. The market does not care about my opinion of earnings, politics, international events or other any other headline events. If you think the market cares about your opinions, you are wrong. The video below takes a look at key levels to watch for $SPY $QQQ $IWM $XLF $SMH $AAPL etc for the next week.

ETF close 10182013