End Of Day Post

The markets closed flat on today's session after putting in a decent move yesterday. With yesterday's move, all three majors are comfortably back into their summer ranges. This last bullish surge was fueled by some good earnings results and from an FOMC announcement, in which no action was taken as the Fed will continue to monitor the economy.

We have experienced a very direct move back above the 200-day moving averages (MA's) in these markets. We should expect this bullish move to slow down over the next week or so, as we enter deeper into our old range. Earnings results should create some directional opportunity moving forward. This could be a nice thing to have if we indeed find ourselves back in a market range, so let's keep an eye out for relative strength and weakness.

Mid-Week Outlook:

• Bull: 53%
• Sideways: 36%
• Bear: 11%

Have a great night,

Maverick Trading