August 19, 2017

Futures Hold 900

Well, I wanted to see the S&P futures (/ES) hold the 900 level and it did just that today. I was also hoping to see a gap up or at least a flat close, but instead the premarket blues bled into the opening bell and we witnesses a lower open. The major indexes are still hovering around an overbought state so a trade in the ETF Extremes over the next few sessions is not out of the question.

Furthermore, the Sector ETF Extremes still has a few ETFs held in a short-term overbought state today. The Health Care (XLV) and Materials (XLB) sectors currently have my attention and much like the ETF Extremes options strategy we could potentially see a trade over the next few trading sessions.

I really do not have much to say tonight. I have been blogging every day (well almost) for the last three years and I think I have hit one of those walls. It typically occurs around the holidays and often the New Year brings fresh ideas and more interesting content.

Have a great night!

Overbought-Oversold levels for December 17, 2008

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 60.2 (neutral)
* Dow Jones (DIA) – 58.3 (neutral)
* Russell 2000 (IWM) – 63.5 (neutral)
* NASDAQ 100 (QQQQ) – 59.8 (neutral)

Sector ETF Extremes Options Strategy

* Biotech (IBB) – 69.6 (neutral)
* Consumer Discretionary (XLY) – 69.8 (neutral)
* Health Care (XLV) – 70.5 (overbought)
* Financial (XLF) – 57.5 (neutral)
* Energy (XLE) – 62.9 (neutral)
* Industrial (XLI) – 66.2 (neutral)
* Materials (XLB) – 72.2 (overbought)
* Real Estate (IYR) – 66.4 (neutral)
* Retail (RTH) – 64.3 (neutral)
* Utilities (XLU) – 44.5 (neutral)

Ultra Extremes (Insiders Page Only)

* Ultra Long (SSO) – 59.6 (neutral)
* Ultra Short (SDS) – 36.2 (neutral)

If you would like to follow my strategies with real-time alerts or have them auto-traded by a participating broker please click the following link! Try my options trading strategies.