Market Update August 21st

Good Morning,

Yesterday we saw a gap down that was bought up nicely and we slowly pushed higher all day long. This morning we are looking at a moderate gap down, and it will be interesting to see if that also gets bought up. I will also be keeping a close eye on the VIX today which is still showing some signs that we may see a spike in volatility. Today we have options expiration and with a number of nice swing trades under our belt and a few positions we are still holding, I am not looking to take any new trades with the volatility that opex brings. My focus today will be on day trades and starting to scan for setups into next week.

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