Wednesday Update: The Seesaw Effect


The direction and size of market moves has been for the most part correlated to perceived bullishness or bearishness to each new headline; a seasaw of fickle emotion. Today was a roller coaster ride with the Dow +250 to negative and then back up to positive going into the close. IWM and QQQ were negative most of the session and an hour before the close, SPY remains negative while the Dow is back +100. Takeaway: None. 

There are numerous new trades pending, all on Short side, including BABA, EBAY, DIA, EEM, NFLX, TWTR, FXI and GS. Both VXXB and UVXY are close to issuing Buy Signals and in fact did so early today (near market lows) in the shorter-term Premium Service. Further weakness this week will likely trigger all of the above. 

Next Update: Thursday, and as alway check the subscriber section of the website before the close for earlier postings of these daily updates.