OTC: February 2, 2016 S&P 500/ SPY It was not going to be a surprise to see a pullback from the fast run up to the 195 level. It is a surprise to see how big a drop we had today. I expected it to be two sided within this range of 187-195 but to […]
OTC: February 1, 2016 S&P 500/ SPY A relatively quieter day compared to what we have seen.The follow thru from Friday to test the 195 level came up just short today but close enough to say we hit the high end of this range that we have been looking at now 187-195. A pullback is […]
Options Supplement: March 27, 2016 Thursday capped off a holiday shortened trading week and finished similar to how it began on Monday. Stocks opened down about .5% showing some continuation from Wednesday’s rare weak close but just like we have seen recently, weakness was bought quickly and averages managed to finish mostly unchanged. Europe and oil weighed early but […]
Options Supplement: March 7, 2016 Action was choppy today following last week’s strong close. Our averages started the week in the red following some selling in Europe but another strong day in oil (+5%) helped us bounce back. The S&P finished just about flat but above the 100day sma for a second day. The tech […]
OTC: March 27, 2016 S&P 500/ SPY: The break of SPY 204 saw some follow thru selling on Friday but it was not intense and the indexes climbed back up to close basically unchanged. The Fed is now sending us mixed messages which is causing some confusion about future of interest rates. It isn’t […]
OTC: March 20, 2016 S&P 500/ SPY: A mixed day saw some sectors that have been under pressure bounce especially the Nasdaq Biotechnology ETF IBB and the banks XLF. This gave a boost to the S&P index even as the oil sector finally took a rest and had a downside reversal after oil breached the 40 […]
OTC: March 13, 2016 S&P 500/ SPY: The market decided to do what it probably should have done on Thursday after Draghi cut rates. The selloff on the notion that he will not cut rates anymore was an over reaction to just “talk” as he still will assess the conditions and may still have […]
OTC: March 7, 2016 S&P 500/ SPY: Quiet day today as we tested both sides of the 200 level. There was no real news to pin to the action but there was one interesting pergence that being the oil correlation. Oil up another 5% and making new highs for the move would normally have […]
Options Supplement: March 31, 2016 The final day of a topsy-turvy quarter went out with a whimper as stocks drifted around the unchanged mark for most of the day on very light volume. The S&P 500 finished off .2% for the day but closed out the month of March up over 4.5% and managed to […]
Options Supplement: March 30, 2016 Stocks rallied across the globe Wednesday, buoyed for a second day by the dovish tone of Janet Yellen’s speech. Rallies in China and Europe early this morning set up a continuation gap in US markets from yesterday’s strong close. The S&P 500 and Nasdaq tacked on another .5%, each now […]