December 29, 2016 Market Wrap Up

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The markets closed relatively flat today on on lower than average trading volume. With that said, only one more trading day left on the year. The only drama remains is if the Dow Jones Industrial Average will hit 20k by the end of the year. With that said, we’ll need a pretty decent rally to get there, the Dow 30 closed at 19,819.78 today.

Even though trading volume was relatively low, we did see a bid in the VIX, as it closed at 13.37, a rise of 3.24%.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.34%, iShares 20+ Year Treasury Bond (TLT) +0.35%, SPDR Gold Shares (GLD) +1.30%.

Stocks in play today included: Nvidia (NVDA) +2.00%, Silver Wheaton Corp (SLW) +9.42%, and Cempra, Inc. (CEMP) -57.38%

On the options front, we saw large call buying activity in American Capital (ACAS), which traded 31.9 times normal option volume. In addition, we saw heavy put buying in Mattersight Corporation (MATR), which saw 137 times normal options volume.

There are no major economic events or earnings tomorrow. However, we do want to wish you a very healthy prosperous and healthy new years! If you’re still looking for ways to improve your trading in 2017, make sure to check out our courses, they were created by experienced and respected industry leaders.

December 28, 2016 Market Wrap Up

The markets sold off today on below average trading volume. With that said, there isn’t much left on the schedule for the final two days of trading. The only drama really left is if the Dow Jones Industrial Average will breaking 20k.

Even though trading volume was relatively low, we did see a bidin the VIX, as it closed at 12.95, a rise of 8%.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.17%, iShares 20+ Year Treasury Bond (TLT) +0.73%, SPDR Gold Shares (GLD) +0.28%.

Stocks in play today included: Nvidia (NVDA) -6.88% and Weis Markets (WMK) +11.67%, Kate Spade & Co. (KATE) +23%

On the options front, we saw large call buying activity in Kate Spade & Co. (KATE), which traded 9.0 times normal option volume. In addition, we saw heavy put buying in PC Tel (PCTI), which saw 38.4 times normal options volume.

Here’s what’s on tap for the rest of the week:

Key Economic Data:
29 Dec 2016- International Trade in Goods 8:30 AM ET, Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET

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