September 9, 2015 Market Wrap Up

The S&P 500 was not able to follow through after yesterday’s move higher. Now, for a large part of the day it looked like it was going to be smooth sailing; however, when it was all said and done we witnessed a 40 point swing with the market closing nearly 1.5% lower.

For some time, our focus has been on the Asian markets. They’ve had a huge influence on how we’ve traded here. In addition, the FED meeting is coming up in about a week or two. With that said, that’s what traders are waiting and watching.

The VIX closed at 26.23, up nearly five points from the day low.

The energy sector saw some heavy selling pressure, as the United States Oil Fund (USO) closed 3.4% higher.

On the options front, we saw bullish call buying in Autodesk Inc. (ADSK). Options that saw bearish put buying were in Tenet Healthcare (THC).

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

Key Economic Data:
10 September 2015- Jobless Claims 8:30 AM ET
11 September 2015- PPI 8:30 AM ET

Key Earnings:
10 September 2015- LULU, FNSR, RH, ZMZ
11 September 2015- KR, MFRM

Key Events:
8 September 2015 (runs til 9/10)- Barclay’s CEO Energy Power Conference
8 September 2015 (runs til 9/10)- Barclay’s Global Consumer Staples Conference
8 September 2015 (runs til 9/10)- Citigroup Global Tech Conference
8 September 2015 (runs til 9/10)- JPMorgan Small/Mid Cap Conference
8 September 2015 (runs til 9/10)- Morgan Stanley Healthcare Conference
9 September 2015 (runs til 9/10)- Bank of America 2015 Gaming and Lodging Conference
9 September 2015 (runs til 9/10)- Bank of America 2015 Media Communications & Equipment Conference
9 September 2015 (runs til 9/10)- Cowen Global Transport Conference
9 September 2015 (runs til 9/10)- Goldman Sachs Global Retail Conference
9 September 2015 (runs til 9/10)- Wells Fargo Healthcare Conference
9 September 2015 (runs til 9/11)- Morgan Stanley Industrial CEO Unplugged Conference
10 September 2015 (runs til 9/11)- Bank of America Annual Canada Mining Conference