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Federal Reserve Hints that Rate Hikes Might Slow Sends the Dow up over 600 points!

Chairman Powell's statement to the Economic Club of New York threw gasoline on the markets for an incredible gain in a single day of 618 points! The volatility in the markets remains and we have yet to see our technical indicators signal that we are in a positive bias. Our daily and weekly indicators say that we may have bottomed but we are still negatively biased. We continue to look for opportunities to get to a 300% return for the year but of course we can't be assured of any outcome. Thank you.

Volatility Grows and it is here to stay.

The markets volatility is off the charts. One reason we are seeing these big swings –sometimes 500 points in a day on the Dow – is the high level the markets are now at. We saw a spike after the elections but then a pullback. The post-election pop appears to be a head-fake. The VIX has been cycling and did so at the end of this week. Oil is also reacting negatively based upon the inventory builds. Bespoke Investment Group states oil is in a long losing period that is has not seen since 1983. It also noted that “there has never been a streak of more than 9 straight days where crude oil traded down on the day.” As we’ve stated numerous times in the past we’ve entered a whole new market

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