Markets Love the Bulls!!! Close to All-Time Highs
S&P pulled back 78% of the fall
Nasdaq pulled back 61% of the fall
Dow pulled back 78% of the fall
IWM pulled back 50% of the fall
Impressive rips for 2 weeks of trading for the "buy the dip" community. This week's direction was steady in futures, and gaps higher in indexes from opening to closing bell. I'm keeping the charts as clean and simple as possible. September and October are rarely good months for the markets so perhaps all-time highs are a bit of a stretch, but we're much closer now than we were August 5th when everyone was freaking out.
Upcoming news for next week:
FOMC Minutes
US PMI
Jackson Hole (with Powell Speech)
My defensive plays are focused through August and September expirations, but I'll likely continue to add hedges if appropriate.
Have a great weekend and back at it next week!!!
Nasdaq pulled back 61% of the fall
Dow pulled back 78% of the fall
IWM pulled back 50% of the fall
Impressive rips for 2 weeks of trading for the "buy the dip" community. This week's direction was steady in futures, and gaps higher in indexes from opening to closing bell. I'm keeping the charts as clean and simple as possible. September and October are rarely good months for the markets so perhaps all-time highs are a bit of a stretch, but we're much closer now than we were August 5th when everyone was freaking out.
Upcoming news for next week:
FOMC Minutes
US PMI
Jackson Hole (with Powell Speech)
My defensive plays are focused through August and September expirations, but I'll likely continue to add hedges if appropriate.
Have a great weekend and back at it next week!!!
Chris Pulver
Penafian
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