Wednesday, September 10, 2014


It was a tenuous recovery day and the markets were marginally higher.  We're seeing a narrow consolidation band forming, which is actually a bit worrisome for the bulls as momentum has stalled at QQQ/100 and SPY/200.
Puts are cheap in this low volatility environment and buying a litle downside protection is always something to consider if the signals get more ominous.
Tomorrow, of course, is the anniversary of 9/11 and there's a heightened sense of anxiety that surrounds that date so we may see a greater than usual range day Thursday.