August 20, 2017

Post-Fed, Where Now?

As expected, Fed day price action kept in line with the recent past. The day started off range-bound, followed by a decent advance, then chopped around until the Fed release. Once 2:15 EST hit(Fed release), the market vacillated widely, but in the end the price action was mute as market closed the day flat. Nothing gained, nothing lost.

Now the market is firmly entrenched in a neutral state. However, our shortest-term indicators are in an overbought state so I would expect to see a decline, or at least an upside struggle, over the next few trading sessions. The S&P’s 50-day moving average is still in play and the bulls and bears are playing a mean game of tug of war. I think this time around the bears are favored.

Thank you Mr. Volatility!

The new website is almost complete and we are very excited about the release! As usual, the process has taken a bit longer than expected, but that always seems to be the case when building a site. Our webmaster has outdone himself this time around. We can’t wait to share it with you! As always, thank you for your support! We appreciate all of the kind words.

Overbought/Oversold levels for June 27, 2007

  • SPY –  47.8 (neutral)
  • DIA – 47.3 (neutral)
  • IWM – 55.3 (neutral)
  • QQQQ – 57.3 (neutral)
  • GLD – 47.4 (neutral)
  • OIH – 43.2 – (neutral)  

We work hard to bring you our latest views, opinions and research on a daily basis. If you are a loyal reader and find our thoughts useful please show us your support by joining our newsletter service.  We currently follow 2 stock option strategies and one stock-based strategy in our investment newsletter. All of our strategies use the major benchmarks as the underlying. Furthermore, you will receive two free months of our investment newsletter when you purchase our White Paper. Check it out!

Watch and learn how we implement our strategies.

Have a great night!