Market Report Mixed Bag of Stuff
By
Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
Lats week was a mixed bag of stuff for markets, the bulls got a little the bears got a little as did the premium sellers. Early in the week it appeared the bulls had full control, but the end showed for the bears leaving the equities relatively flat for the week.
The biggest problem with the recent activity is the lack of volume and overall interest. We can blame the summer for the lack of activity however the slow trade has been around for months.
Based on the news and the economy one would think the markets are ready to go lower but they haven’t. The adage to never sell a dull market is probably in play now. The trend is still up, the economy down. One thing to remember, markets don’t always follow the economy.
Option trading was mixed between the bears, bulls, and premium sellers. The VIX appears to have found some support at 20. The markets will probably remain slow through the Labor Day weekend.
The bulls were back focusing on the ETF’s SPY, QQQ, IWM, AAPL and WEBR. The bears were selling TNA, PACB, DHI, SST, and SAVA. The action here looks a little bearish
Remember, we can’t predict what’s next, but the price action will give indications and guide us in the right direction. All signs are starting to point lower however flexibility is the key to trading successfully.
As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control.
Todd “Bubba” Horwitz
BubbaTrading.com