Wednesday, August 17, 2016

Bollinger Bands Move Center....08.17.16

A quick look at the 130 minute Bollinger Band bar charts show out basket of SPY, VIX and TLT on a run back to the center line.  Tuesday's minor swoon was largely erased by today's dovish FED comments...a surprise to more than a few traders as the talking heads had been yakking up the increased odds for a rate hike sooner than later....but not according to the FED who still see weak economic factors to support holding off.  Volume remains about 50% normal and today's NYAD low of .42 should have been a signal that selling was muted and likely to reverse.

 130 minute bar charts courtesy of Schwab SS Edge.