All three majors closed lower today, although this time with a catalyst. Reports came in today of a few hedge funds pulling out of Deutsche Bank (DB), creating some concerns of Deutsche Bank's liquidity and capital holdings. Couple this with the current Wells Fargo (WFC) situation and we could start to see some bearish market reaction.
This news could continue to have an impact on the markets over the next few sessions. We could see additional selling tomorrow, but we need to remain focused on overall support levels. Make sure that we are truly breaking down before making any major changes to your portfolio. For tomorrow, enter bearish trades and/or close bullish trades if they are triggered only if the criteria are met in your trading plan.
Once this week is finished, we can then evaluate the markets for any new changes, along with changes to our own sentiment and outlook.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
Over the years, we have spent thousands of hours talking with our traders and answering their emails. We have a huge collection of really great information that only benefited the specific traders who we were interacting with. So, we decided to start sharing all of these gems of knowledge with everyone.
Thursday, September 29, 2016
Tuesday, September 27, 2016
End of Day Post
The markets have been showing some indecision since last week's Fed announcement. Although the Fed agreed that it would not make a change to interest rates, the markets can't seem to agree on a direction. Initially, the markets moved higher on both Wednesday and Thursday after the Fed announcement last week. Then, over the last two trading days (Friday and Monday), the markets gave back all of those gains.
Today's action was bullish, although all three majors seemed to plateau into the close. Since the Fed announcement, no major levels have been broken. It appears that the markets are unclear as to what their next moves will be.
Wait for confirmation before changing your outlook too drastically. Remain cautious, but don't be afraid to take opportunities as they present themselves.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
Today's action was bullish, although all three majors seemed to plateau into the close. Since the Fed announcement, no major levels have been broken. It appears that the markets are unclear as to what their next moves will be.
Wait for confirmation before changing your outlook too drastically. Remain cautious, but don't be afraid to take opportunities as they present themselves.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
Thursday, September 22, 2016
End of Day Post
The Fed announced yesterday that it would keep rates unchanged, sending the markets higher into yesterday's close. Buying continued today as the S&P and INDU are moving back into their upper ranges. The Nasdaq broke above its higher resistance and is now in new territory, closing at its record close of 5,339.
With the rate hike decision being diverted to a later date (yet again), we should expect more of the same. The shorter-term market sentiment should stay slightly bullish and range-bound, as we have seen over the last couple months. We now look to December for the next possible Fed move.
Nothing concrete has changed in the current markets. Continue to stay on track with your current outlook and take opportunities – both bullish and bearish – as they develop.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
With the rate hike decision being diverted to a later date (yet again), we should expect more of the same. The shorter-term market sentiment should stay slightly bullish and range-bound, as we have seen over the last couple months. We now look to December for the next possible Fed move.
Nothing concrete has changed in the current markets. Continue to stay on track with your current outlook and take opportunities – both bullish and bearish – as they develop.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
Tuesday, September 20, 2016
End of Day Post
Volatility remained steady, as the VIX hovered around the 15 level, but daily ranges have started to tighten up over the last few sessions. Last week did its best to recover a strong surge lower made on the previous Friday (September 9th). Overall, we are moving away from major support levels, but the markets are not gaining any upward momentum.
It is far too early to make any decisions on the current market action. We are seeing some reluctance from the markets in holding any gains, but it appears that support has held for now.
Not a lot to go on here...we will need to see consecutive days higher or lower until we can get some clarity to market sentiment.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
It is far too early to make any decisions on the current market action. We are seeing some reluctance from the markets in holding any gains, but it appears that support has held for now.
Not a lot to go on here...we will need to see consecutive days higher or lower until we can get some clarity to market sentiment.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
Thursday, September 15, 2016
End of Day Post
The markets moved higher off of major support levels today, but tomorrow's results could have a strong impact on the overall market's sentiment moving forward. As discussed in Wednesday's Mid-Week Update, the ability to regain the majority of last Friday's losses would be key in keeping a bullish outlook moving forward.
Although we have broken below the upper channel support levels, the overall uptrend is still in play. Focus on September's monthly option expiration tomorrow and any changes needed to your exposure moving into October. We haven't yet seen anything in the technicals to call us to major restructuring actions, so take your time and continue to approach the markets "one day at a time."
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
Although we have broken below the upper channel support levels, the overall uptrend is still in play. Focus on September's monthly option expiration tomorrow and any changes needed to your exposure moving into October. We haven't yet seen anything in the technicals to call us to major restructuring actions, so take your time and continue to approach the markets "one day at a time."
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
Wednesday, September 14, 2016
End of Day Post
Another volatile day in the markets yesterday (Tuesday) as they continued to show instability at the current levels. We have broken below the upper channel support levels and the 50-day MA, signaling an end to the current up trend. However, the markets are not down trending here, but still in a corrective action.
Continue to stay patient and follow your trading plan. If a stop is triggered, then close your position. Remember to follow your rules and try not to react to any one day. Anything can happen over the next few days, keep in mind September's expiration is Friday this week. We want to allow for our positions to give us the most they can up until expiration.
See you on today's (Wednesday's) Mid-Week Trading Room Update class!
Have a great day,
Your Maverick Trading Team
Continue to stay patient and follow your trading plan. If a stop is triggered, then close your position. Remember to follow your rules and try not to react to any one day. Anything can happen over the next few days, keep in mind September's expiration is Friday this week. We want to allow for our positions to give us the most they can up until expiration.
See you on today's (Wednesday's) Mid-Week Trading Room Update class!
Have a great day,
Your Maverick Trading Team
Thursday, September 8, 2016
End of Day Post
Nothing new in the markets to report, as they continue to churn sideways. Economic reports were light this week, with only the wholesale inventories number left (due out tomorrow morning). Friday should be relatively uneventful – barring an unexpected event – and leave us with more of the same.
The sideways combos continue to be rewarded here. With about a week left to September's options expiration, we are still seeing some good opportunities out there.
Continue to focus on the shorter-term and take advantage of these sideways markets for now.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
The sideways combos continue to be rewarded here. With about a week left to September's options expiration, we are still seeing some good opportunities out there.
Continue to focus on the shorter-term and take advantage of these sideways markets for now.
See you on this Sunday's live Trading Room class!
Have a great night,
Your Maverick Trading Team
Tuesday, September 6, 2016
End of Day Post
All three majors moved higher coming out of the holiday weekend. The markets put in a decent reversal signal last Thursday, along with some follow through on Friday and today. This moves all three majors back up to resistance levels, with only three full trading days left to go this week.
We shouldn't expect much more than a revisit to resistance levels, unless we can find a strong catalyst to move the markets higher. Continue to lean towards a "cautious" approach, while taking advantage of this ranging movement and continued sideways trading.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
We shouldn't expect much more than a revisit to resistance levels, unless we can find a strong catalyst to move the markets higher. Continue to lean towards a "cautious" approach, while taking advantage of this ranging movement and continued sideways trading.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
Friday, September 2, 2016
End of Day Post
The markets made another strong recovery into the close. Support levels are still holding this week, even after the bears made a few strong attempts to break them. We still have one more day before entering into the long U.S. holiday weekend, so the markets are not quite in the clear just yet.
We still aren’t seeing any major news events or changes to the economy, which should keep us moving sideways. Keep your sideways outlook intact for now and don’t add any unnecessary directional exposure going into the holiday weekend. With this type of market, the reward to risk just isn’t there.
Reminder: This weekend’s Trading Room will be on Monday, September 5th @ 9pm EST (we are moving back to our regular hours, so make note).
Have a great night,
Your Maverick Trading Team
We still aren’t seeing any major news events or changes to the economy, which should keep us moving sideways. Keep your sideways outlook intact for now and don’t add any unnecessary directional exposure going into the holiday weekend. With this type of market, the reward to risk just isn’t there.
Reminder: This weekend’s Trading Room will be on Monday, September 5th @ 9pm EST (we are moving back to our regular hours, so make note).
Have a great night,
Your Maverick Trading Team
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