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Published on Sep 1, 2016
The
S&P 500 had a very volatile session on Thursday, as we continue to
bounce around in fairly thin markets. On top of that, you have to keep
in mind that the jobs number comes out today so that of course has
liquidity off a bit as most traders will be willing to put on heavy new
positions ahead of that vital announcement. However, I’m the first to
admit that a break above the top of the range for the Thursday session
is very bullish, and could very well set the tone for the entire month
of September as volumes pick back up after the vacation season. A break
down below the bottom of the candle could be fairly negative, but I
believe that there is essentially a “floor” in this market somewhere
near the 2125 handle.
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