SPY and CCI Data Release
Updated
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.
Order cancelled
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.
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