Markets are a bit all over the place today. The SPY is up almost 0.4%, while the IWM is down 0.66%, the QQQ up nearly 1%, the DIA up 0.75%, financials (XLF) up 0.62%, transports up 0.23%, TLT up almost 1%, GLD up almost 0.5%, and the dollar up 0.40%
In a nutshell, nothing really makes much sense. However, that’s sort of expected coming off the holiday. The one real clue here is the VIX and VVIX. The VIX is down 6.6%, and the VVIX is down 3.34%. That’s signaling a rally in stocks could be around the corner.
Right now I plan to keep riding the trend until it tells me otherwise. I’m trying to work orders in AMGN to lower my average cost, AMZN call spread at $1900/$1910 to create my iron condor, TWLO call spread, and a UVXY put spread.
Earnings start up soon, so keep an eye for movers. We get annual reports that provide much more detail than the quarterly filings. They’ll be parsed and prodded by analysts for weeks to come.
