TRADING WEEK AUG 26-30

The market was very choppy last week although the SPY rose 1.4% while the VIX also rose, up 7.4%. The intraday trading ranges were 5.75, 3.51, 7.38, 8.20 and 5.80, with the hi-lo for the week only 9.32. You could make money gamma scalping the old fashioned way with plenty of up and down action intraday. The numbers coming out this week are Consumer Confidence on the 27th at 10:00am ET, followed forty-eight hours later by Pending Home Sales. On the 30th Personal Income, Personal Spending and the PCE Index come out at 8:30am ET. Not exactly earth shaking but the PCE Index is the new favorite of the FED. Jay Powell's speech at Jackson last Friday made way for for imminent rate cuts. The market liked it. I like the SPY 30Aug24 558-563-568 call butterfly at 0.94 since the market id due for a breather. KSS releases earnings before the opening on the 28th, with NVDA releasing after the close.