Options Supplement: March 9, 2016 The market continued to consolidate today and appears to be digesting the big rally over the last month. Action was choppy for a third straight day with all the major indices closing green but drifting back and forth between flat/green multiple times. The SPY finished up about .5%, bouncing back […]
Options Supplement: March 8, 2016 The 5 day win streak for the S&P 500, Dow, and Russell was snapped today. Markets opened in the red following Europe lower on the heels of some weak Chinese economic data but unlike Monday, could not recover. Winners from Monday were weak today (energy, biotech, materials) and closely watched […]
Options Supplement: March 6, 2016 The jobs report on Friday morning was the highlight of news flow for the week and the icing on the cake of a very strong weekly showing for the bulls. The nonfarm payroll number came in at 242,000, above analyst expectations, and initially sent futures higher as good news appeared […]
Options Supplement: March 3, 2016 If you glanced at markets today and thought you were accidentally looking at yesterday’s charts, you aren’t alone – today was nearly a carbon copy to Wednesday. Averages opened mostly flat, traded sideways for a majority of the day and then ran into the close. The S&P finished up .4% […]
Options Supplement: March 2, 2016 Markets had a mixed day today with choppy trading for most of the session on light volume. Following yesterday’s big rally to start the month, the S&P was able to tack on another .45% but the tech heavy Nasdaq couldn’t get anything going and finished flat. Oil was able to […]
OTC: March 31, 2016 S&P 500/ SPY: The end of the quarter and month saw a quiet day in which the SPY filled its opening gap from yesterday. The up move is still in place and until it violates a level of importance its still pointed to the upside. The unemployment number will come […]
OTC: March 30, 2016 S&P 500/ SPY: A strong Europe playing catch up to yesterday’s fed rally caused a strong gap up today as we saw some nice follow thru but failed to maintain those initial highs as oil came back down.The indexes are overbought here as we have not had any meaningful dips […]
OTC: March 29, 2016 S&P 500/ SPY: The real voice of the fed spoke today and put any of the other members thoughts of raising rates in the coffin.Yellen sounded like the world is about to end which for some reason is very bullish for stocks. This is of course is bullish for commodities […]
OTC: March 28, 2016 S&P 500/ SPY: Spring break hangover for the major indexes as a low volume no movement day did nothing to show the next possible move. The SPY stayed below the 204 and still has the look that a pullback is still on the table. The macro environment had no major […]
OTC: March 23, 2016 S&P 500/ SPY: The reversal day that was long overdue came today but considering where the market has come from it was a relatively subdued drop. The rally based on the Fed’s easier stance was set back by some of the Fed’s members talking back up rate raising. This caused […]