August 19, 2017

Major Market Benchmarks Hit Short-term Oversold Extremes – Options Strategy Looks to Pounce

The market moved lower again today and is two trading days away  from racking up its sixth straight weekly loss. If the bulls are not able to turn it around quickly it would be the first time in nine years that the market has lost ground six straight weeks in a row.

The Dow ETF (NYSE: DIA) and S&P 500 ETF (NYSE: SPY) have both pushed into a short-term oversold extreme and the RSI (2) reading has confirmed. So, subscribers stay tuned tomorrow. A trade alert could be coming your way.

You can see all of the performance results for the High-Probability, Mean-Reversion strategy here.

Daily Options Links of Interest

Summary

Not much has changed over the past few weeks – range-bound trading persists. I appears we could see the markets move sideways for a few more months. Are the summer doldrums already upon us? How long can SPY stay in this range of roughly $126 to $137? The question is, while I continue trading extremes in the HPMR strategy , how can I take advantage of the range bound movement at the same time. You guessed it – a credit spread! I will discuss this further in Weekly Options Report

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