Great recovery after the sell-off Tuesday. It was great to see a little fear in the market for the first few hours of the session on Wednesday.
The fear faded after the first +800 print on the TICK chart and the buying continued the rest of the session with only a few sales programs through the day.
S&P 500 1,959.53 +9.55 +0.49%
DOW 30 16,867.51 +49.38 +0.29%
NASDAQ 4,379.76 +29.40 +0.68%
Russell 2000 1,182.68 +9.44 +0.80%
A key area to watch will be the financial sector (-0.1%). It
underperformed on Tuesday when the market was trading higher and it is
underperforming again today. If the financials don’t get it in gear,
the broader market will find it difficult to move to a higher levels.
Stockshakers are positioned long in CMG Calls, this is a great squeeze setting up and all of the conditions are lined up for a high percentage trade.
Long BWLD calls, SBUX Calls, GILD Calls, GOOGL Calls, Z Calls, NFLX calls, among others.
Looking at QIHU re-entry, BIDU re-entry, LNKD adding to our calls, and to start selling premium on weekly spreads for Friday.