JoeHentges'  Instablog

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I am an equity option and futures trader. I have been trading the markets since 1979. More about me on my website
My blog:
Beyond the Chart
My book:
7 Keys to Successful Option Trading
  • More Volatility?  0 comments
    Aug 16, 2014 3:45 PM | about stocks: SMH, XLF, XHB

    volatility, September knocking?Friday morning Ukraine said that they hit a Russian military convoy on Ukrainian territory and destroyed part of it. Russia denied that any military vehicles had crossed the border.. The United States said it could not confirm it. Meanwhile stock market volatility was in full force.

    The market whipped back and forth on Friday. It opened up, then collapsed, then came back...all in a day's work. In the end the S&P 500 (SPX) was basically unchanged yet the Nasdaq seemed to say 'what, me worry?...nope'.

    The NASDAQ closed up almost 12 points on the day. It ended the week sitting at the second highest weekly close since 2000. I do think it is in its 5th and final move though. In today's video I give some targets.

    So volatility is back. On August 8 the ATR (I use 10 bars) on the SPX got to the highest level since April 21. And Friday's range was 22.54 points. The market is getting active just a couple of weeks before we head into what is historically one of the worst months. Is that September I hear knocking on the door?

    In Focus

    In today's video I look at the market action of the last two days and on a weekly basis. I review the indices, indicators and ETFs that I typically review. In addition I look at Germany again.

    The German DAX index is well below the 233 moving average. And since Germany is the engine of Europe, it merits attention. If the Dow Jones Industrial Average were at the same level below the 233 moving average as the DAX was on August 8, it would be trading 1300 points lower than where it is today.

    Stocks: SMH, XLF, XHB
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