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