August 24, 2017

The Week After Turkey and the Iron Condor

According to the Stock Trader’s Almanac, November 26-29 are seasonally bullish with the S&P finishing higher Monday (66.7%), Tuesday (81.0%), Wednesday (61.9%) and Thursday (71.4%).

We shall see soon enough. As you all know, I never base a trade solely on seasonal tendencies. However, I am always aware of the seasonal calendar as an additional tool for potential trade set ups that I am contemplating.

I will add the anticipated SPX Iron Condor position for the December cycle over the weekend. I will try and establish the position early next week. So far our new way of trading Iron Condors has worked wonderfully. Again, we will allow probability to work for us. With the VIX so high we should be able to establish another huge range for the underlying SPX to vacillate in over the next four weeks.

Daily Links of Interest

I hope all of you have a wonderful weekend!

Overbought/Oversold for November 23, 2007

S&P (SPY) – 44.1 (neutral)

Russell 2000 (IWM) – 42.0 (neutral)

Dow (DIA) – 40.1 (neutral)

Nasdaq 100 (QQQQ) – 43.0 (neutral)

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