Hedge_Of_The_World

Hedge_Of_The_World Updated 

Hey guys, so it was a fairly quiet night, with the majors all essentially flat into this morning's retail sales numbers, which came in hotter than expected. US stocks caught a bid on the open (usual morning pump), until around 10:30am when momentum briefly shifted to the downside. On the SPY, we just broke back below the 100 period MA on the 15 minute (349.33),...

Hedge_Of_The_World Updated 

With the majors at all-time high's and vol getting cheaper by the day, let's take a look at what the technicals are saying. With the exception of Monday and Tuesday's close this week, we've been trading above the 50 day MA since the end of August, and the fact that the 50 day is now rising, translates into bullish price action. Today we got a solid bounce off the...

Hedge_Of_The_World Updated 

Hey guys, so let's get right into it. Interesting price action this week with the SPY gapping down over night, and bouncing back off the Greenline support this morning (now sitting around 344), after a few days of light selling. Headlines starting to turn negative here, with "stimulus pessimism" being blamed for much of the sell-off. Market up = stimulus...

Hedge_Of_The_World Updated 

So yesterday we closed comfortably above the Green trendline (now acting as support once again), and we're sitting just above the all time weekly closing high of 350. Well done to the bulls! Shorts now appear to be extinct on this one-way MMT highway. But, a potential double top formation on the weekly is emerging, and a move back below the Green trendline could...

Hedge_Of_The_World Updated 

"Pump up the jam, pump it up While your feet are stompin' And the jam is pumpin' Look at here the crowd is jumpin' Pump it up a little more Get the party going on the dance floor Seek us that's where the party's at And you'll find out if you're too bad." Happy Friday guys! Sorry for the late post today. Let's get right into our SPY analysis: It was...

Hedge_Of_The_World Updated 

If you showed this chart to a 1st grader, and said, "What happens next?" I wonder what their response would be... My guess is, they'll say, "It goes down from here, for a long time." In my opinion guys, if you're not bearish right now on risk assets, you may have bought chips at the casino because you saw Trump, the FED, the Treasury, and the Media, sitting at...

Hedge_Of_The_World Updated 

Canopy is on fire today, and is up 20% plus on the week, off the back of optimism over the possible decriminalization of Marijuana in the United States. Last night at the Vice Presidential Debate, Kamala Harris made mention of the dems plan to bring this to fruition, should they win the election in November. This has the entire sector hot today, without exception,...

Hedge_Of_The_World Updated 

There's a fine line between genius and insanity, and it appears that line is gone. Another day, another pump in risk assets based on nothing more than "Trump Tweets", "Vaccine hopes", and "Stimulus Optimism." The US saw another 840k jobs lost since last week, putting the total now at just under 11MM still unemployed. In my opinion ladies and gentlemen, this is not...

Hedge_Of_The_World Updated 

Seemingly fraudulent 45 degree market pump last night on more garbage headlines about Trump and what his latest bowel movement looked like. We're in a recovery not a depression, Trump's fighting for you, Stimulus hopes, Vaccine hopes, FED will do anything, please, trust us!, Nancy Pelosi is tough, but she loves you! Etc. etc. I do my best to tune out this "noise"...

Hedge_Of_The_World

Canopy is in a defined downtrend, and has been trading below it's 21 day EMA since mid August with diminishing volume. Note: earnings release is early November, and the stock has consistently sold off heavily on recent earnings reports off the back of low demand, high supply, and the natural constraints of scaling the edibles/drinks business, among other...

Hedge_Of_The_World Updated 

So yesterday was the best performing day we've seen in almost a month. This move comes after the SPY broke below the green line (support), and subsequently found new support at the 100 day MA/June Peak (around 320). We're at/just below the green line (which is now acting as resistance). Note: According to Spotgamma, there is a gamma "wall" at 341 (exactly at the...

Hedge_Of_The_World Updated 

My name is Michael and I'm a Trader from Canada. Thanks for having me guys. SPY Analysis 10/05/20: Since early April, we've witnessed a bullish trend in the form of a strong ascending channel, and a key support line emerge (in green) which acted as daily support 8 times, until it was broken on September 18th. We've been holding below this support line for 12...