8 Minute Read

Market Recap September 11, 2017

September 11, 2017

By | 1 Comment

MR

 

MARKET SNAPSHOT
Dow22058.67+259.58(1.19%)
Nasdaq6432.23+72.07(1.13%)
SP 5002489.56+26.68(1.08%)
10-yr Note-22/322.131
NYSEAdv 2319Dec 627Vol 794.9 mln
NasdaqAdv 1691Dec 885Vol 1.81 bln

 

IN THE NEWS HIGHLIGHTS:

  • Hurricane Irma weakens; investors dial back estimates for economic damage.
  • North Korea decides against weekend missile launch.
  • Financials bounce back from last week’s decline, lead broader market.
  • Crude oil closes slightly higher following brief selloff.
  • US dollar rallies.

 

RECAP– The markets roared back today as the indices put in new highs. Crude oil sold off in the morning, but recovered to close higher. The US dollar bounced back with strength following its multi-year low.

In-depth look of daily news at Briefing.com (CLICK HERE)

In-depth look at after hours movers (CLICK HERE)


Economic Calendar

Today

  • Nothing major today.

 

Upcoming Reports

  • September 12: JOLTS Job Openings
  • September 13: PPI m/m
  • September 13: Crude Oil Inventories
  • September 14: CPI m/m
  • September 14: Core CPI m/m
  • September 14: Unemployment Claims
  • September 15: Core Retail Sales m/m
  • September 15: Retail Sales m/m

 

FedWatch September 20 Rate Hike Probability for September 11: 1.4% (View the probability chart here)


A Look At The S&P 500 Chart – KEY Levels

  • RSI is above 50.
  • On Balance Volume is above its moving average.
  • The market was in consolidation pattern and broke out today. The market has quickly approached 2490 which served as previous resistance.

 


A Look Into the Heat Map

The market was broadly bullish today as it rallied today.

 

(click on symbol for chart)
SPX – Bullish
DOWBullish
NasdaqBullish
Russell Neutral

VIX – 10.73

COMMODITIES

Oil (USO)Bullish – Support of $46 was tested, and crude looks to be resuming another bullish run.
Ag (DBA)Bearish
GLD Bullish 
SLVBearish

THE DOLLAR

UUP USD weighted ETF – Bearish

 


SOLON’S TRADING THOUGHTS

The market broke out to start the week and it has quickly approached its prior level of resistance. As momentum slows down, be prepared to buy protective puts as they are becoming cheap again. There is still plenty of uncertainty in this market as valuations remain high and catalysts such as North Korea, Hurricane Irma, Trump’s White House, and others have been easily able to shock the market in the past month.


You can follow daily updates on Twitter & Facebook, or text “follow @tackletrading” to 40404 to get text alerts!

If you are not a Pro Member and following the Stock & Option Picks, then check it out! There is a Promo code for Free 15 day trial: THETA


Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

 

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

 

 

One Reply to “Market Recap September 11, 2017”

  1. Avatar JINGLI says:

    Thank you!

Comments are closed.

Chart Modal

Tackle Trading