Neutral means “no go”.

The market is still in a neutral state and has yet to breach and oversold or overbought state. I would like to see the market move into an oversold state because I think this could be the signal we have been waiting for over the past several months. Remember, patience pays! Again, I am still working on my book about Iron Condors so stay tuned.

Have a great night!

Andy

Overbought-Oversold levels for September 30, 2009

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 48.9 (neutral)
* Dow Jones (DIA) – 45.9  (neutral)
* Russell 2000 (IWM) – 42.1 (neutral)
* NASDAQ 100 (QQQQ) – 54.8 (neutral)

Other ETFs

* Ultra Long (SSO) – 49.3 (neutral)
* Ultra Short (SDS) – 48.5 (neutral)