For two months SPY was sleepy - with VIX at 12, Vol is coming
For two months $SPY has been trading within a 1% range - Once on July and later on August - Total of 36 boring days that made the summer a nightmare for swing traders.
Now, with VIX at 12 and $SPY just below a daily downtrend line, Volatility is expected to rise as the markets prepare for Sep FOMC on the 21st.
Another push towards 220$ (2200 with SPX) is definitely an option but the focus will be on the markets reaction to the ECB meeting on Thursday - A close below the Fast SMA line can send $SPX back to test the previous record levels - near 212$
This analysis is part of this week's newsletters - The Weekly Markets Analysis - Check out more trading ideas for stocks and Forex here - goo.gl/5f5NyX
Tomer J,
The Market Zone
www.themarketzone.net/
marketzone.tumblr.com/ - My blog
www.youtube.com/c/TheMarketZoneNet - Youtube channel
Now, with VIX at 12 and $SPY just below a daily downtrend line, Volatility is expected to rise as the markets prepare for Sep FOMC on the 21st.
Another push towards 220$ (2200 with SPX) is definitely an option but the focus will be on the markets reaction to the ECB meeting on Thursday - A close below the Fast SMA line can send $SPX back to test the previous record levels - near 212$
This analysis is part of this week's newsletters - The Weekly Markets Analysis - Check out more trading ideas for stocks and Forex here - goo.gl/5f5NyX
Tomer J,
The Market Zone
www.themarketzone.net/
marketzone.tumblr.com/ - My blog
www.youtube.com/c/TheMarketZoneNet - Youtube channel
Trade closed: target reached
