End of Day Post

The Fed announced yesterday that it would keep rates unchanged, sending the markets higher into yesterday's close. Buying continued today as the S&P and INDU are moving back into their upper ranges. The Nasdaq broke above its higher resistance and is now in new territory, closing at its record close of 5,339.

With the rate hike decision being diverted to a later date (yet again), we should expect more of the same. The shorter-term market sentiment should stay slightly bullish and range-bound, as we have seen over the last couple months. We now look to December for the next possible Fed move.

Nothing concrete has changed in the current markets. Continue to stay on track with your current outlook and take opportunities – both bullish and bearish – as they develop.

See you on this Sunday's live Trading Room class!

Have a great night,

Your Maverick Trading Team

End of Day Post

Volatility remained steady, as the VIX hovered around the 15 level, but daily ranges have started to tighten up over the last few sessions. Last week did its best to recover a strong surge lower made on the previous Friday (September 9th). Overall, we are moving away from major support levels, but the markets are not gaining any upward momentum.

It is far too early to make any decisions on the current market action. We are seeing some reluctance from the markets in holding any gains, but it appears that support has held for now.

Not a lot to go on here...we will need to see consecutive days higher or lower until we can get some clarity to market sentiment.

See you on Wednesday's Mid-Week Trading Room Update class!

Have a great night,

Your Maverick Trading Team

End of Day Post

The markets moved higher off of major support levels today, but tomorrow's results could have a strong impact on the overall market's sentiment moving forward. As discussed in Wednesday's Mid-Week Update, the ability to regain the majority of last Friday's losses would be key in keeping a bullish outlook moving forward.

Although we have broken below the upper channel support levels, the overall uptrend is still in play. Focus on September's monthly option expiration tomorrow and any changes needed to your exposure moving into October. We haven't yet seen anything in the technicals to call us to major restructuring actions, so take your time and continue to approach the markets "one day at a time."

See you on this Sunday's live Trading Room class!

Have a great night,

Your Maverick Trading Team

End of Day Post

Another volatile day in the markets yesterday (Tuesday) as they continued to show instability at the current levels. We have broken below the upper channel support levels and the 50-day MA, signaling an end to the current up trend. However, the markets are not down trending here, but still in a corrective action.

Continue to stay patient and follow your trading plan. If a stop is triggered, then close your position. Remember to follow your rules and try not to react to any one day. Anything can happen over the next few days, keep in mind September's expiration is Friday this week. We want to allow for our positions to give us the most they can up until expiration.

See you on today's (Wednesday's) Mid-Week Trading Room Update class!

Have a great day,

Your Maverick Trading Team

End of Day Post

Nothing new in the markets to report, as they continue to churn sideways. Economic reports were light this week, with only the wholesale inventories number left (due out tomorrow morning). Friday should be relatively uneventful – barring an unexpected event – and leave us with more of the same.

The sideways combos continue to be rewarded here. With about a week left to September's options expiration, we are still seeing some good opportunities out there.

Continue to focus on the shorter-term and take advantage of these sideways markets for now.

See you on this Sunday's live Trading Room class!

Have a great night,

Your Maverick Trading Team

End of Day Post

All three majors moved higher coming out of the holiday weekend. The markets put in a decent reversal signal last Thursday, along with some follow through on Friday and today. This moves all three majors back up to resistance levels, with only three full trading days left to go this week.

We shouldn't expect much more than a revisit to resistance levels, unless we can find a strong catalyst to move the markets higher. Continue to lean towards a "cautious" approach, while taking advantage of this ranging movement and continued sideways trading.

See you on Wednesday's Mid-Week Trading Room Update class!

Have a great night,

Your Maverick Trading Team

End of Day Post

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