End Of Day Post

The markets closed in positive territory, but well off the highs of the day. We have seen both bullish and bearish action this week, with very little ground being gained by either side. The markets look to be establishing a range here and are even showing some signs of consolidation.

Tomorrow's move could have an impact on this week’s current consolidation pattern. We will see if one side can gain any ground on the other or if we simply continue sideways into next week.

Volatility is still high and has yet to test its support right around the 20 level. This probably won’t happen without a strong bullish surge in the markets, so we should still stay cautious if the markets continue to consolidate. There is still a lot of speculation to the Fed’s next move, and it should be the market's main focus as we move closer to next week’s meeting.

Mid-Week Outlook:

• Bull: 12%
• Sideways: 44%
• Bear: 44%

Have a great night,

Maverick Trading