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Wednesday’s Compendious Chart and Market Recap

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:

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Friday Focus – Earnings Explosion

Amazon capped a record week with an almost 15% on the day.  In Wednesdays Earnings Playbook I highlighted the $415 Calls at $6.00.  Those options traded for over $30 today.

$AMZN WEEKLY CALL CHAIN TODAY

$MSFT pulled off a big earnings move as well soaring over the expected $1.50 move and seeing it another $3.00 for a $4.50 total move.  The $44.50 calls at $.25 I highlighted in the Earnings Playbook proved their worth soaring over 1,000%.

$MSFT  $44.50 Call Chart

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Short and Sweet

Almost a full four months into 2015 and the S&P 500 has yet to make a meaningful move to the upside.  We currently reside at similar levels from the end of 2014.  Imagine that.  Four months of consolidation.

Prices have started to narrow and I think a big break higher is becoming more likely with each passing day.

One thing is for certain... the Dip Buyers remain on the ready to gobble up any dip this market gives.  Today was no different.

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