August 25, 2015 Market Wrap Up

The S&P 500 is down nearly 10% over the last few trading sessions. Today’s action was a punch to the gut for all the bulls; nearly an 80 pt swing from high to the low. The market gapped up very strong and stayed there for a good portion of the day. However, it gave it all back by the close.

All eyes will be on China to see how their markets open. They recently decided to cut their key interest rates, which was the catalyst for today’s short-lived rally. Maybe it’s because they’ve cut rates five times since November.

Believe it or not, the VIX dropped, closing at 36.02.

On the options front, we saw bullish call buying in Solar City (SCTY). We also saw bearish option activity in Cheniere Energy (LNG).

Here’s what else is going on:

Key Economic Data:
26 August 2015- Durable Goods 8:30 AM ET
27 August 2015- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
28 August 2015- Personal Income 8:30 AM ET

Key Earnings:
26 August 2015- EXPR, GES, NQ
27 August 2015- ARO, ADSK, BEBE, BURL, DG, GME, SDRL, GAME, SPLK, TIF, ULTA, VEEV, YGE, TD
28 August 2015- BIG