The markets posted another flat close as all three majors appear more than comfortable at these levels. Staying patient and taking advantage of sideways strategies (e.g., butterflies, etc.) has really paid off in the latter part of the summer. We shouldn't expect much more than the same until after the next FOMC announcement.
Earnings season should be winding down over the next week or so, but make sure that you double check with any new opportunities just in case. Making new trades based on earnings results (and any continuation in bias) can be advantageous over the next couple of weeks. Make note of the sectors and stocks that are either outperforming or underperforming – and look to take advantage, if possible.
Continue to use the power of sideways strategies and make sure to incorporate it into any directional trades as well.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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