Options Supplement: July 13 2016 After a sharp 3 day run, stocks finally paused today. The S&P 500 ended higher by a fraction (.01%) while the Nasdaq closed off .34%, but both averages had a choppy, light volume session. The fact that the S&P even managed to close flat was pretty impressive however – […]
Options Supplement: July 12 2016 Another day, another rally for stocks. Strong momentum carried averages higher for the third straight day as the S&P continued it’s breakout, finishing up .7%. Similar to yesterday, strength in Asia and Europe gave an early boost to US equities but oil also contributed today, rocketing higher by 4.6% […]
Options Supplement: July 11 2016 Monday picked up right where we left off last week. The S&P 500 followed up Friday’s rally with a .34% gain, while the Nasdaq nearly doubled that up, finishing .64% higher. The momentum from the strong jobs report carried over to the beginning of this week and finally was […]
Options Supplement: July 10 2016 The job report for June smashed expectations Friday morning and stocks went flying. The S&P 500 and the Nasdaq finished up 1.53%, 1.64% respectively after the employment number showed a gain of 287,000 jobs versus the economists estimate of only 170,000. While one number doesn’t make a trend, the June […]
Options Supplement: July 7 2016 Stocks had a choppy day Thursday ahead of the monthly jobs report due out tomorrow morning. The S&P 500 ended down .09% after being up nearly .5% during the morning. The Nasdaq alternated gains and losses as well but managed to finish higher by .36%. Part of the reason […]
Options Supplement: July 5 2016 Traders came back from the July 4th holiday weekend in a selling mood. Stocks were under pressure early and often today, breaking the long 4 day winning streak they had been on. The S&P 500 ended the session down .68% and was weighed down all day by heavy selling in […]
Options Supplement: July 4, 2016 Happy 4th of July to you all! Stocks finished out the week on a strong note, rallying for the fourth consecutive day and further erasing all but a small portion of the Brexit losses. The S&P 500 gained .19% while the Nasdaq doubled that up ending .41% higher for the […]
OTC: July 31, 2016 By Steve Smith SPX/SPU: The tight range of last week after a slew of big earnings movers is ready to break out with the chart showing a bullish flag set up for this week. The dollar breaking down on Friday as Fed fears once again fade into the background has boosted […]
OTC: July 28, 2016 By Steve SmithSPU/SPX: It has come to trader’s attention today the S&P range has been less than 1% the last11 trading days and that has not happened since most of us were born. The breakout to new highs has held but finding follow thru or a decent dip to buy has […]
OTC: July 27, 2016 By Steve Smith SPY/SPX: The fed did what the fed does…nothing which always causes big move in the market. A little bit of confusion at first as the more hawkish tone turned into a feeling that they did not say enough to convince traders that a hike is forthcoming anytime soon. […]