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The SPY and the QQQ both made new all-time highs on Tuesday with their lowest volume (full) day in the last two months. The VIX seemed to confirm the move, at it drifted down toward its four month lows. If there’s a move down in the rest of 2020, it appears we’ll need some volume selling to get there. Traders might do well to find some recent laggard names rather than chasing new all-time highs in individual names.
Pushing toward the end of the year, it’s a good time for reflection. How much did you grow as a trader this year? What did you learn? What did you struggle with? In addition, what goals are you setting for 2021? With three weeks left to go this year, start reflecting on these questions and forming your game plan for the next 12 months.