Tuesday, May 16, 2017

End of Day Post

The S&P hesitated at resistance today, as the Nasdaq continued to march higher. The INDU continued to consolidate below its all-time highs, forming a decent base. Volatility remained at historical lows. We haven't seen any urgency by the bulls or the bears to move these markets.

Summer is just around the corner. With May expiration later this week, June is already upon us. Usually, it's the summers that are slow, but we really haven't seen much market activity since late-April.

Continue to keep a sideways outlook in the near term...there could still be some decent sideways plays left in May.

See you on Wednesday's Mid-Week Trading Room Update class!

Have a great night,

Your Maverick Trading Team