etfmsolutions: Rally....09.02.15

Wednesday, September 2, 2015

Rally....09.02.15

We got a reaction rally at the open. The technicals were so overdone to the down side that it was almost inevitable. Momentum quickly faded done to the pivot and it was only in the late afternoon session...actually the last 30 minutes that the markets picked up steam to close on the highs of the day. In stark contrast to yesterday's action the Ergodics and the ADX were in sync most of the day. Volume was about half of yesterday and the technicals are still precarious. The bottom line is that traders are still worried about what the FED will do on September 17th and you can bet that's going to be a truly memorable...and volatile...day. Until then we may just swing back and forth at this worrisome level in the midst of elevated volatility levels.

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