The solid demand for the Portuguese bond offering helped propelled the US market higher on Wednesday. Dan expects short term, a sideways trending market and thin volumes for the rest of the week. The 1100 level in the S&P 500 appears to be a level of value, particularly if you look at the longer term chart pattern. For the sideways market, Dan suggests that an option overlay strategy creates opportunities to take advantage of reduced volatility. Stutland Volatility Group offers different overlay strategies depending on your risk appetite.

Dan on Bloomberg