The markets made another strong recovery into the close. Support levels are still holding this week, even after the bears made a few strong attempts to break them. We still have one more day before entering into the long U.S. holiday weekend, so the markets are not quite in the clear just yet.
We still aren’t seeing any major news events or changes to the economy, which should keep us moving sideways. Keep your sideways outlook intact for now and don’t add any unnecessary directional exposure going into the holiday weekend. With this type of market, the reward to risk just isn’t there.
Reminder: This weekend’s Trading Room will be on Monday, September 5th @ 9pm EST (we are moving back to our regular hours, so make note).
Have a great night,
Your Maverick Trading Team
Over the years, we have spent thousands of hours talking with our traders and answering their emails. We have a huge collection of really great information that only benefited the specific traders who we were interacting with. So, we decided to start sharing all of these gems of knowledge with everyone.
