The markets continued to test their current highs, but couldn't get that final push. With the Fed out of the way for the rest of the year, we are only left with sentiment. The 20,000 level for INDU is a psychological number that will carry weight over these last two weeks in 2016.
Although INDU continued to surge higher, the other two majors appear to be establishing nice high bases here. Volatility continued to move lower, with the VIX looking to roll over and test lows. We just aren't seeing any selling pressure, so the markets could top out here for a little while. Look to some sideways strategies over the next couple of weeks.
See you on Wednesday's Mid-Week Trading Room Update class!
Have a great night,
Your Maverick Trading Team
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