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BZB Trader

Another narrow range day with low volume.  Although it was a red day the losses were modest.
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Quantifiable Edges

One interesting aspect of Tuesday’s action is the SPY gapped up above Monday’s close, and never filled that gap. This made the 2nd day in a row with an unfilled up gap. The study below is one I’ve shown before in the subscriber letter. It examined other times SPY left 2 unfilled up gaps and closed at a 50-day high. All stats are updated. Read the rest of this entry »

Mrkt_Rwnd

Week 34 14
Source: Mrkt_Commentary** subscription service; prior posts.
Click Twice to Enlarge – NEVER INVESTMENT ADVICE

Mr. Ice

Fed Chief’s Janet Yellen’s speech at Jackson Hole was well anticipated and the indices barely moved on the news of how the labor market is influencing potential interest rate hikes.  The market had a minor “sell the news” reaction to the speech as it was technically ripe for some profit-taking. Further weakness next week to continue to cool off the overbought technical indicators are expected.  SPX 2000 round number continues to provide resistance, but for how long?

BZB Trader

UPRO is the 3X SPY ultra bull ETF and many traders believe there is a simple leveraged advantage in trading UPRO in lieu of SPY….(assuming the direction of the markets is forecast correctly). Read the rest of this entry »

Mr. Ice

After a furious bounce last week, the market may stall and pull-back next week.  It will be important for it to hold the 1930 level. A breach of 1930 would then increase the chance that the market bottom was not made on August 2nd and the odds of a visit to the 200-day moving average increase dramatically. If on the other hand the market convincingly takes out 1965 than 2000 will likely be seen in short order.