Market Internals Chart
The Market opened up on the highs of the day today, looking like the Bulls might of returned from the long weekend with stride. However, today's intra day action told more of the story of the Bears than bulls, with the markets quickly dropping from those highs and retesting the lows of last week. On the ES futures, it was an interesting 24 hours, as the market sold down to the S1 last night around 1am, bouncing up more than 100 pts on the E-mini future around 3am, helping the early morning gap. But with the market filling in these gaps on the exchanges, the ES quickly followed suit and retraced that move quickly even breaking the S1 finding support at S2 (1271.5). The internals were a bit of a mess, starting off positive but moving into the negative after lunch. Oil got taken out to the woodshed today, gaping down nearly 3 pts on OIL, closing down 3.21 for the day. The Vix has continued its climb up from fridays pre-weekend sell off, up 1.34 to 21.99.
ES FUTURES Chart
Internals:
NYSE BREATH: 5.5/5.08 - 1.08:1+
NYSE TRIN: 1
NASDAQ BREATH: 1.3/0.7 -
NASDAQ TRIN: 1.91
With such volatility in the broad exchanges, one could almost say that they indices are almost are volitile as high fliers like Google and Apple. We now patiently wait to see if the market will hold these lows and chop around, bounce off them or simply continue the free fall.
Unusual Options Activity:
Upside:
GTX (Nov 22.5 call)
DRIV (Sept 45 call)
LXK (Sept 45 / Oct 45)
Downside:
DRI
LMT
Stocks in scope:
WYNN (Watching for confirmation of H&S pattern, break of 91) See Chart
ILMN (watching the MA lines to act as resistance for a move down to prior support) See Chart
AMZN (Watching for break of 81 Support)
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Important Disclaimer! This website is for entertainment purposes only. Equities, Futures, Options, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Absolutely do not trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell equities, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Absolutely consult your Registered Financial Adviser and your Risk Trading Plan before ever investing or trading any financial instrument!
The Market opened up on the highs of the day today, looking like the Bulls might of returned from the long weekend with stride. However, today's intra day action told more of the story of the Bears than bulls, with the markets quickly dropping from those highs and retesting the lows of last week. On the ES futures, it was an interesting 24 hours, as the market sold down to the S1 last night around 1am, bouncing up more than 100 pts on the E-mini future around 3am, helping the early morning gap. But with the market filling in these gaps on the exchanges, the ES quickly followed suit and retraced that move quickly even breaking the S1 finding support at S2 (1271.5). The internals were a bit of a mess, starting off positive but moving into the negative after lunch. Oil got taken out to the woodshed today, gaping down nearly 3 pts on OIL, closing down 3.21 for the day. The Vix has continued its climb up from fridays pre-weekend sell off, up 1.34 to 21.99.
ES FUTURES Chart
Internals:
NYSE BREATH: 5.5/5.08 - 1.08:1+
NYSE TRIN: 1
NASDAQ BREATH: 1.3/0.7 -
NASDAQ TRIN: 1.91
With such volatility in the broad exchanges, one could almost say that they indices are almost are volitile as high fliers like Google and Apple. We now patiently wait to see if the market will hold these lows and chop around, bounce off them or simply continue the free fall.
Unusual Options Activity:
Upside:
GTX (Nov 22.5 call)
DRIV (Sept 45 call)
LXK (Sept 45 / Oct 45)
Downside:
DRI
LMT
Stocks in scope:
WYNN (Watching for confirmation of H&S pattern, break of 91) See Chart
ILMN (watching the MA lines to act as resistance for a move down to prior support) See Chart
AMZN (Watching for break of 81 Support)
________________________________________________
Important Disclaimer! This website is for entertainment purposes only. Equities, Futures, Options, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Absolutely do not trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell equities, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this website. The past performance of any trading system or methodology is not necessarily indicative of future results. Absolutely consult your Registered Financial Adviser and your Risk Trading Plan before ever investing or trading any financial instrument!
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