|NYSE||Adv 1822||Dec 1092||Vol 813.0 mln|
|Nasdaq||Adv 1436||Dec 1204||Vol 1.87 bln|
IN THE NEWS HIGHLIGHTS:
- Investors attempt ‘buy-the-dip’ trade following Tuesday’s slide.
- President Trump and House Democrats reach an agreement to extend the debt ceiling and fund the government for another three months.
- Energy sector up along with crude oil prices.
- US dollar closes flat.
RECAP– The markets rebounded today in recovery from yesterday’s selloff. Crude oil resumed a bullish trend as it closed above $49. The US dollar closed flat today halting bearish momentum.
In-depth look of daily news at Briefing.com (CLICK HERE)
In-depth look at after hours movers (CLICK HERE)
- Nothing major today.
- September 6: ISM Non-Manufacturing PMI
- September 7: Unemployment Claims
- September 7: Crude Oil Inventories
FedWatch September 20 Rate Hike Probability for September 6: 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 rallied back up today following its scare from yesterday.
A Look Into the Heat Map
Basic Materials led the market higher.
VIX – 11.66
UUP – USD weighted ETF – Bearish
SOLON’S TRADING THOUGHTS
As anticipated last week, the rally heading into Labor Day Weekend ended with the holiday itself. The market sold off hard today on the many concerns surrounding it, not least which being the nuclear threat of North Korea, Hurricane Irma, among others. Tis the season for volatility, and volatility can spike at a moment’s notice with anything being the catalyst. Make sure to hedge when volatility is low and puts are cheap.
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
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.