Market Review: Stuck at Highs

eOptionDaily Market Report

Published with permission from the options flow and sweep specialists at Sanglucci.com.

Another week of wild headlines and vol spikes was met with little actual movement on the SPY. While earnings season chugs along, investors and traders alike have chosen to largely sit out the day to day, instead waiting for pockets of weakness to open up and present longer term dip buy opportunities.

And that’s kind of the story of the week, and more over the story of trading until Trump’s deep into his first 100 days. It’s hard for any size to come and want to stick around, knowing damn well that in just a few weeks they’re likely going to see a big shake out as Trump dumps regulations.

 

With little changing underneath the surface of this market, this week largely consisted of positioning. Smart money continues to push money towards the Trump Trades we know so well. And with the banks reporting better than expected earnings on Thursday/Friday it’s hard to find a storyline in which the SPY doesn’t continue to float higher through what’s left of earnings season.

 

Day to day, week to week, there’s been little change over the past month as smart money prepares for a new administration and new opportunities. With Trump now just 7 days out from office, headlines and sentiment is starting to really hit a fever pitch.

Seems like the best move is to just sit and wait it out. At some point things are going to take a turn for the worse as regulations and TradeWars come back to the forefront.

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