I wrote a blog post Friday about the CCI data release trade potential on SPY today.
May, June & July were all negative CCI prints which saw the market move lower, with August being a slight lift but still saw a negative move as the market was expecting higher.
Todays results is slated as being another small lift to 104 but I don't think this will be enough to cause a large amount of selling.
I'm also slightly anticipating the result to be worse than 104 given recent developments fundamentally.
May, June & July were all negative CCI prints which saw the market move lower, with August being a slight lift but still saw a negative move as the market was expecting higher.
Todays results is slated as being another small lift to 104 but I don't think this will be enough to cause a large amount of selling.
I'm also slightly anticipating the result to be worse than 104 given recent developments fundamentally.
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Positive beat on the CCI number invalidates the trade idea. Interesting to see the initial bearish movement as if a few traders had market sells set at 3pm regardless.
Trading cancelled here today given this, better luck next time.
Trading cancelled here today given this, better luck next time.