The OpEx brought its brand of volatility today and triggered some good pullbacks. However, between this and Wednesday’s FOMC Meeting Minutes, we want to stay bullish and take advantage of the “blue light specials” as we have all year.
In tonight’s update, let’s look at more of the same… Unbalanced Butterflies around high vol binary events. It’s one of my favorite setups and has really been helpful during this earnings season.
When I look for bearish setups, not only do I look for bear flags, but I also look at the action of the leaders.
In this video, we discuss the big downdraft from Tuesday’s CPI number. We had a quick 130 point drop in the ES and a quick spike in the VIX. I was wondering if this was the start of something bigger, but today we bounce back and regained about half of the move. What does this mean for the health of the overall market and what to expect in the coming weeks and months. Lastly and specifically, what am I watching on the economic calendar for clues.
