S&P futures are down 0.29 % in morning trading
Crude oil futures are down .43%
Gold futures are down 0.64%
Bond Futures are up 0.27%
Overnight we saw a terrible cowardly act from terrorist bombing multiple spots in Brussels. The markets have taken this act in stride. S&P futures are down 5 points, Crude is down .20 and gold is up 8.
On Monday we noted that Chipolte Mexican Grill entered into our State 8. Today, its Buffalo Wild Wings. We will be looking for a 10% move to the downside over the next 28 days BWLD.
Notable: Amazon entered into State 4. We typically see state 4 as a transition State, meaning it will either go very bullish or very bearish from this State. Amzn has gone from 696 to 474. It rebounded to 554. Typically, we will see at least a test of the bottom before seeing a long term movement to the upside. Amazon is expected to see an 8% drop in the next 14 trading days. Below, we can see the way Amazon dropped before after it reached State 4.
At Key2Options, we are market agnostic, and trade off of mathematics not emotions. We make rational trades not emotional ones.
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