The market gyrated around ending the session off the lows, as well as off yesterdays lows, but down significantly
Is there more downside to come tomorrow?
The markets ended the day at session lows. Something we have yet to see in 2016.
What about the options market. What was it saying today?
Today's highly anticipated trading session was able to capture the entire trading year of 2015 in one day. The S&P500 ETF $SPY closed the session at the exact price it started the day at.
The FED moved the needle up a little, but even they were powerless to fight the magnet that is 2015. Prices can never break too high or too low in 2015. The action can never get too hot or too cold. The irony is most thought 2015 would continue the theme of everything going up and/or everything going down. 2015 has brought back the stock picker. There is one way to beat a consolidating market... its to be in the names that move. How about that $AMED! While the market has been gyrating in a narrow contained range, there have been a host of stocks breaking higher/lower.
Let's look at some stocks, ETF's, the VIX, some scans, and what I think is going to happen in the weeks ahead.
The VIX was taken down today, and this is what I see from a chart perspective: