Outlook
There will be some turbulence after FOMC but we believe dip buyers will show up eventually. Please note this coming Thursday is SPY dividends day. I remember March dividends week is usually bullish.
SPY today
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| SPY 5m |
SPY gapped down a bit, then grinding up with little sell off at close and ended flat. It was sorta boring market so I should have enjoyed National Napping Day :)
CVI/STVO/VTO and trends/overbought/oversold
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
CVI and STVO suggest there will be consolidation for a while. VTO suggests mid-term overbought, but we know market can stay overbought longer than Bernie Sanders' speech. If SPY dips after FOMC, it could be a big opportunity for long entry.
SPY Options OI and Dollar Weighted Volume
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| SPY OI 03/18 |
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| SPY DWV 03/18 |
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| SPY DWV 03/24 |
Meh. No edge on today's DWV.
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