Home > Lessons from the trading floor > Dull Summer day…

Dull Summer day…

Apart from the short burst of energy on the open this morning, the markets really didn’t have much of any direction or volume. the $SPY traded 204mm slightly higher than yesterday – but as mentioned most of it in the 1st 45min of the day. The 200 day moving average on the S&P has turned out to be the next resistance levels in the markets, we couldn’t stay above it today, despite the nice gap up we had this morning on the back of good earnings.

The VIX once again proved to be useful as it moved higher during the course of the morning session, keeping the longs under tight control, and keeping the shorts, especially in the gold sector, nice and profitable.

As for the rest of the day, Keystone mainly stayed on the sidelines, as the markets lost volume as well as a clear direction. Let’s see what sort of volume we get tomorrow…

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