SPY MARKET ANALYSIS
Currently the market is going SIDEWAYS and we are seeing neither buying or selling pressure causing prices to stay the same. Periods where this has been true in the past are indicated by the grey areas in the market analysis chart below. These markets should be pairing off longs with shorts with tighter target points. Aggressive traders could be selling short term straddles to capture quick theta decay. The market in the short term is oversold in here and as such could be a potential dip buy.
|STRENGTHENING||Showing upward momentum right now is BLL which is our strengthening momentum long pick for today. We wouldn’t be surprised to see a +1.7% up move in BLL today. Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries.|
|WEAKENING||Showing downward momentum right now is CTL which is our short pick for today. We wouldn’t be surpised to see a -4.1% down move in CTL today. CenturyLink, Inc. is an integrated communications company.|
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network