July 28, 2017

Thanksgiving seasonality

Well, it looks like the first half of the historically seasonal bullishness that surrounds Thanksgiving held true. Now, with the major market benchmarks nearing a short-term overbought state will we see the second half of the historical tendency live up to its billing? Read my post from yesterday for more info about the seasonal conditions that surround Thanksgiving.

The tech-heavy Nasdaq 100 (QQQQ) moved slightly above a strong area of overhead resistance. The S&P has also moved above the 850 area (currently 882). The 850 area should act as a strong area of support if and when we head back towards that level.

Anyway, I will most likely not have a post on Friday with only a half day left (and basically no volume) for the market this week. Stay tuned for the upcoming Weekly Option Report due out Sunday.

Have a wonderful and safe holiday.


Overbought-Oversold levels for November 26, 2008

ETF Extremes Options Trading Strategy

* S&P 500 (SPY) – 62.6 (neutral)
* Dow Jones (DIA) – 63.5 (neutral)
* Russell 2000 (IWM) – 64.1 (neutral)
* NASDAQ 100 (QQQQ) – 63.4 (neutral)

Sector ETF Extremes Options Strategy

* Biotech (IBB) – 53.2 (neutral)
* Consumer Discretionary (XLY) – 67.5 (neutral)
* Health Care (XLV) – 51.3 (neutral)
* Financial (XLF) – 61.5 (neutral)
* Energy (XLE) – 66.5 (neutral)
* Industrial (XLI) – 63.5 (neutral)
* Materials (XLB) – 64.6 (neutral)
* Real Estate (IYR) – 61.3 (neutral)
* Retail (RTH) – 69.9 (neutral)
* Utilities (XLU) – 33.7 (neutral)

Ultra Extremes (Insiders Page Only)

* Ultra Long (SSO) – 61.6 (neutral)
* Ultra Short (SDS) – 62.4 (neutral)

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