Market Outlook – 03/20/18 – Brandon Van Zee
The S&P 500® found a little bit of stability today after selling off for most of the previous week. It closed higher by four points. Importantly, it found stability right at its 30-day simple moving average. Stocks remain in a sideways trading range after topping out in late January. Crude oil took an unexpected jump higher despite a firming U.S. Dollar. The NASDAQ® now has a bearish intermediate term posture, largely due to the pressure caused by Facebook(FB) in recent days. Today’s trade idea focuses on taking advantage of time decay by selling an iron condor on SPY, which is considered one of the most liquid securities in the United States, which is an important consideration for trades involving four strikes.
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below: