TRADING WEEK SEP18-22

There was a reasonable degree of movement in the market last week. The movement was detectable but not earth shaking. The intraday trading ranges for SPY were 2.30, 3.14, 2.63, 3.37 and 4.56. The hi-lo for the week was 8.16. The long straddle was once again a wash. The SPY 22Sep23 444 straddle could be picked up for 5.37. Housing Starts comes out at 8:30am ET on the 19th. The big deal of the week is on the 20th when the FED makes its decision on interest rates at 2:00pm ET. That is followed by Jay Powell's press conference. Right now it looks like there will be no increase this month with futures hikes not taken off the table. If that changes then there could be some volatility. U.S. Leading Economic Indicators along with Housing Starts come out at 10:00am ET on the 21st. FDX releases earnings on the 20th after the close.