9 Minute Read

Market Recap September 7, 2017

September 7, 2017

By | 1 Comment



SP 5002466.55-0.44(-0.02%)
10-yr Note+16/322.048
NYSEAdv 1502Dec 1394Vol 786.7 mln
NasdaqAdv 1271Dec 1362Vol 1.99 bln



  • ECB leaves interest rates unchanged; ECB President Draghi says the central bank will make a decision on its QE program later this year.
  • House Speaker Ryan voices support for Wednesday’s extension deal between President Trump and Democratic lawmakers.
  • Financial sector lags while technology and health care groups outperform.
  • Crude oil flat.
  • US dollar continues to drop.


RECAP– The markets closed flat today despite plenty of newsworthy catalysts. Crude oil remained flat on the day despite an increase in supplies. The US dollar continued to sell off, putting a new low with no distinguishable level of support in sight.

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

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

Economic Calendar


  • September 7: Unemployment Claims – Actual: 298K  Forecast: 245K Previous: 236K
    • This is a really negative figure as it is the closest that new unemployment claims nearly topped 300K in over 2 years. The last time unemployment claims topped this number was on March 5, 2015 when it recorded 320K. This is just one week’s worth of data and not a trend, but this was very unexpected.
  • September 7: Crude Oil Inventories – Actual: 4.6M  Forecast: 4.1M Previous: -5.4M


Upcoming Reports

  • Nothing major left this week.


FedWatch September 20 Rate Hike Probability for September 7: 1.4% (View the probability chart here)

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

  • RSI is at 50.
  • On Balance Volume is above its moving average.
  • The market is somewhat neutral with a slight bullish skew. It’s currently trading within a range that was created with a high of around 2480 (2490 was briefly tested) and a low of 2420.
  • Over the past month, there were some significant selloffs which means that volatility has steadily re-entered the market.


A Look Into the Heat Map

The Market was very polarized today with most Financials generally suffering while large-cap Technology, Industrial Goods, Utilities, and Healthcare were up.


(click on symbol for chart)
SPX – Neutral
Russell Neutral

VIX – 11.55


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


UUP USD weighted ETF – Bearish



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

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 7, 2017”

  1. Avatar KENNETHLAWRENCE says:

    Thanks, Solon!

Comments are closed.

Chart Modal

Tackle Trading