End of Day Post

The markets closed flat on today's session, showing some hesitation at the current resistance level. All three majors are positive for the week as we enter into April monthly option expiration. We could see another tight range tomorrow – or even a bearish move back into the range. Either way, we don't expect levels to be broken until sometime next week.

Without a break of support or resistance, we should focus on sideways in the short term. Take full advantage of weekly expiration cycles, but be aware of earnings dates (i.e., make sure to double check earnings dates since we are in earnings season).

Options expiration for April is tomorrow, so make sure to close and/or adjust your positions according to your plan. Not much has changed this week, as the markets are still in a high basing pattern.

Have a great night,

Your Maverick Trading Team

End Of Day Post

The markets continued to consolidate and are starting to form a base at the current levels. We have seen some volatile market action over the last few sessions, but still no ground gained or lost in the overall trend. The longer the markets consolidate, the more significant the support and resistance level. This could lead to a decent move away from their current level once the markets take a direction.

Outlook should still lean to the bullish side, as this looks to be a High Base pattern beginning to form. April monthly expiration is this Friday, and given the current market pattern, we should expect to stay within this current range until next week. That being said, anything can happen, so make sure it does before making any drastic changes.

Have a great night,

Your Maverick Trading Team

End Of Day Post

This current market level proved volatile, as the markets gave back all of yesterday's gains. Over the last three sessions, we have seen some pushing and pulling going on between the bulls and the bears, with neither gaining much ground over the other so far.

This is the first time in a while that we have seen this much selling in one week. We have yet to break support levels, so we should continue to treat this as a correction.

We should expect volatility to continue the longer the markets remain in this area. Stay patient and don't get sucked into making a bad decision.

Have a great night,

Your Maverick Trading Team

End of Day Post

We could be seeing signs of a small market correction this week, as the markets posted their second loss in a row. Seeing the markets put in two consecutive lower days has been a rarity over the last couple months, although they are now approaching some key levels. We haven't seen these market ranges since last October/November, so hesitation by the bulls would make sense.

Regardless of the last two days, the overall bull trends are still holding in all three majors. With a week and a half left in April's expiration and at the current market levels, moving to a more neutral outlook would make sense. Don't be in any hurry to add more directional exposure here; instead, try and focus on shorter-term sideways plays.

Have a great night,

Your Maverick Trading Team

End of Day Post

The markets closed slightly lower today, but still remained above resistance levels. We could see some consolidation, or even a small correction, over the next few sessions since the markets look to be a little over-extended.

Depending on how the next market pattern develops, whether a consolidation or correction, could give us insight into the next bullish move (if indeed the bull trend continues). There is no shortage of setups in these markets, so take your time and choose the trade that best fits your current outlook and portfolio exposure.

Have a great night,

The Maverick Trading Team

End of Day Post

The markets pushed higher today after the Fed announced that it will take a slower approach in its interest rate policy. Fed Chair Janet Yellen made reference to current global developments, which could impact the economic growth of the U.S.

Although we don't know how long this outlook will last, the initial reaction of steady interest rates in the near future caused a decent surge in the markets. We should expect more upside in the near future; however, maybe not as aggressive as today's move.

Technically, we are now testing newer resistance levels that were set last week and we could see a slow bullish climb moving forward. Don't abandon the bear side completely; rather, continue to stay bullishly exposed for now.

Have a great night,

The Maverick Trading Team

End of Day Post

The markets closed positive on the session, as both the S&P and INDU posted hammer candles. The markets look to be pulling back this week, after breaking out of resistance the previous week, but today's action supports the current bull move. This could end up being a short-term correction, but we won't know until next week. Tomorrow is a U.S. stock market holiday and we won't see any market action, so let's make a plan for what could happen next week.

Take the long weekend to break down your account exposure and detail out any possible trades. If you have a plan of attack, then it will take less time to implement trades and adjustments based on market action. We want to follow predetermined rules and not trade based on impulsive reactionary emotions.

This week's Trading Room will be prerecorded due to the market holiday. An email will be sent with the link once the recording is ready.

Have a great night,

The Maverick Trading Team