End Of Day Post

The markets paused yesterday after the FOMC announcement. Today, it was the bulls who controlled the majority of today’s action. The Fed statement was pretty much more of the same and did not include anything unexpected. The markets finished flat on today's (Thursday’s) session.

Today’s move has pushed both the S&P and INDU above previous swing highs. This doesn’t mean that we are back to bullish trends, but both charts did move higher from a slightly higher low. Currently, these two indexes look like they are making a move back into consolidation for now. The Nasdaq, on the other hand, has just broken out above a high base into new highs.

Tomorrow, traders will need to close out their June options positions since they will expire with Friday’s close. We will also be looking to see – as we have seen so many times before – if the bears have an answer to today’s move.

Mid-Week Outlook

• Bullish: 16%
• Sideways: 42%
• Bearish: 42%

Have a great night,

The Maverick Trading Team