Market Commentary: SPX Today
Summary
- SPX Narrow Band Closing Range: 3881-3938.
- SPX Broad Band Closing Range: 3840-3965.
- Trading Strategy: Momentum.
Well, I hope you enjoyed your trading yesterday. I know I mostly sat on my hands. I closed my SPX right after posting yesterday and got long /VX and then took profits on that on the way up. So, pretty unexciting on my end despite the wild moves. But, I digress...
"Well, it's Groundhog Day, again..."
All of that wild trading brings us right back to...Wednesday? Yes, we're pretty much back exactly where we sat on Wednesday and I could probably just copy-paste that setup because we're right there. What's today looking like? Two-days ago. Continued choppiness with no headway higher or lower.
Happy Trading!
Analyst's Disclosure: I/we have no positions in any stocks mentioned, but may initiate a short position in SPX over the next 72 hours.
I am an active trader and may take a long or short position in any securities mentioned at any time.
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