Debt celing, debt celing, debt ceiling. Doesn't mean anything for a pickup in volatility (yet). Two quiet days for the most part with pockets of excitment.
To define "quiet", I mean, the market gaps up or down (down in this weeks case) and then trades primarily counter-open and sideways.
There was a tight squeeze for a DOUBLE FALL LINE TRADE in the GBP/USD today:
Past performance is not indicative of future results
Moving into equties, we still have "resistance" in play in SPY:
Past performance is not indicative of future results
If you are defensive, did you have the chance to collar/buy protection for yourself before MMM had earnings? You know how much the markets love the 61.8 area!
Past performance is not indicative of future results
More importantly, check out the long term chart on MMM (4 years):
Past performance is not indicative of future results
And finally, NFLX. Is it attractive in the low to mid 200's? You can get 2.55 (about 1%) for the August 230's.
Past performance is not indicative of future results
I wonder what is more environmentally friendly, NFLX or driving to Blockbuster. Well, I guess the latter isn't a choice anyway.
Look for an increase (hopefully) in trading ranges with the onset of durable goods, claims, GDP and CHPM (check the employment component of CHPM for an inkling of the jobs report, but seasonalities exist with auto workers).
Happy Trading and Be Environmentally Cool
Coach Brian
Currency trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
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