Trading Plan for 4/15

If not for Passover… then the market would have trended. If not for tax deadlines, the market would have rallied. There are as many motivations for the market every day as there are people involved. And they’re all correct. But the market will do what the market wants to do.

Pattern points… (Setups and technicals)[pay]
Speaking of which, just what did it do? Its overnight rally wasn’t extended Monday morning. Its noon hour high was retraced all the way back down to Friday’s close. And that was recovered back to the open.

I had a brief discussion on the post-close Market Wrap, which can be watched from its link in the blog’s sidebar. Apart from that, it’s just what we discussed before the open — a delay, perhaps even a detour, but not an end to the decline.

[/pay]What’s Next… (Outlook and opportunities)[pay]
I’ll be checking in overnight to monitor for signs of resuming one or the other of Monday’s two equally fervent directions. [/pay]

Look for at least one update overnight or ahead of the Morning Market Tour… My thoughts on the day’s econ calendar are linked here.