Today, the market was quite excited for the tax reform, with most major indices gaining around half a percent or more.
-TSX, TSX 60 are up .53% and .52% respectively
-DOW JONES is up .57%
-S&P 500 is up .54%
-Nasdaq is up .84%
-VIX still below 10 at 9.53
An overall good day from the start for those who held overnight as the markets gapped up.
This week for me will be a passive week rather than an active week as I believe markets will for the most part rally into the holidays in a more aggressive way than it has been recently.
My current position
Canadian imperial bank of commerce on the TSX at 120.14
I held through the day and will start looking for an exit strategy from now to the end of the week.
It closed at 120.41 hitting resistance established back in march but it has already breached it once recently and retraced since but I expect it to pass it and possibly use it as a new support.
Dow Jones looks set to reach 25k by the end of the week and I expect this week to be more of a euphoria based trade than a technical one
Thank you for your time, I hope to catch you guys again tomorrow!